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ā¢ The Reserve Bank of India released revised instructions for bank safe deposit lockers, requiring banks to sign revised agreements with current locker holders by December 31, 2023.
ā¢ Banks are responsible for facilitating the execution of the revised agreements and notifying customers of the new regulations.
ā¢ The new regulations prohibit the use of lockers for illegal or hazardous materials and give banks the right to take appropriate action if such materials are found.