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Supreme Court tells RBI to frame new rules of bank locker management

Supreme Court (SC) directed the Reserve Bank of India (RBI) to set new regulations within six months on locker facility management, which will be followed by banks across the country.

The apex court observed that banks cannot leave their customers in the lurch by claiming ignorance about the contents of their lockers.

The SC added that present regulations on locker management were inadequate and muddled.

 

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