News & Media 3rd Jan 2023

Banks are not adding this clause to the new locker agreement: How does this impact you?


Shailesh Poria Partner | Mumbai

Latest Thought Leadership

Podcasts 24th Jun 2024

ELP Podcast Series: Ghar Wapsi: Toiling the way to Reverse Flip the Externalised Structures

Read More
Alerts & Updates 24th Jun 2024

Trade Update – June 24, 2024

Read More
Alerts & Updates 24th Jun 2024

Key proposals by the 53rd GST Council

Read More
News & Media 21st Jun 2024

With Legacy Issues Unlikely To Be Resolved, GST Council Expected to Focus on Industry Concerns

Read More

As per the latest mandate by the Reserve Bank of India (RBI), the banks must sign a new bank locker agreement with their customers on or before December 31, 2022. The agreement should not contain any clauses that are unfair to the customers and must be based on the model locker agreement.

It should also mention the rights and responsibilities of the bank and its customers, the liability of the bank, and rent, among other things.

Shailesh Poria, Partner, Economic Laws Practice (ELP) has been quoted in an article published in The Economic Times on the obligations of the banks and how the clause will impact the customers.

Read the article here to know more: Click Here