The Reserve Bank of India has introduced revised safe deposit locker rules for 2025. These guidelines took effect on November 1 and build upon reforms first introduced in 2023. The updates shift greater responsibility to banks and aim to improve safety and transparency for more than ten million locker users across the country.
The changes were driven by growing complaints linked to theft and disputes under the earlier customer at own risk clauses. The new rules place accountability on banks for ensuring locker security. They also regulate rent increases and streamline nominee access, which is expected to benefit families in major cities where lockers remain a trusted option for valuables such as jewelry and important documents.
Banks must now strengthen security systems in locker areas. The revised standards require CCTV cameras with footage storage for one hundred eighty days and biometric or OTP based access to avoid unauthorized entry. Branches must maintain a proper inventory during allocation and surrender of lockers, supported by photographs to help settle any disputes. All banks are expected to fully comply with these technology driven upgrades by mid 2025.
The rules also clarify the nomination process. Nomination is optional but must be clearly offered by banks. Customers who choose not to nominate anyone must give a written declaration. Up to four successive nominees can be added. Access for nominees must be provided within fifteen days after valid proof of death is submitted. All locker holders must sign revised agreements by December 31, 2025. These agreements define liabilities, insurance details and the updated terms. Customers who fail to comply risk losing their locker allocation and are advised to complete the process through bank apps or by visiting their branches.
Compensation norms have been strengthened. If a loss occurs due to the bank’s fault, compensation will equal one hundred times the annual rent. The guidelines also list prohibited items such as cash exceeding five thousand rupees, weapons, drugs and hazardous materials. Permitted items include jewelry, bonds and passports.
The new framework marks a significant shift toward customer friendly rules with a strong focus on security and clarity. As the year end deadline approaches, locker holders are encouraged to update their agreements and follow the new requirements to ensure uninterrupted access and enhanced protection.
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