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In case of incidents like fire, theft, robbery, building collapse, or fraudulent activity by bank employees, the bank’s liability will be only 100 times the prevailing annual rent of the safe deposit locker
Bank Locker Rules Latest Update: The RBI said the banks have been advised to make necessary arrangements to facilitate the execution of the revised agreements by ensuring the availability of stamp papers. -- aaa
Banks, on the other hand, are not allowed to ask current locker holders or people with active accounts for term deposits.