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SBI New Locker Agreement 2023: Revised Charges in Details Small Lockers in Urban or Metro Cities: Rs 2000 plus applicable GST. Small Lockers in Rural Areas and Small Cities: Rs 1500 plus GST. Medium Lockers in Urban or Metro Cities: Rs 4000 plus GST. Medium Lockers in Rural Areas and Small Cities: Rs 3000 plus GST.

The Reserve Bank of India (RBI) has requested changes to the current bank locker agreement, so users of lockers will need to sign a new contract with their individual banks. The RBI has set December 31, 2023 deadline to execute revised locker agreements, in a staggered manner.

The size of the small locker is around 4.5 x 5.875 x 20.75 ( in inches ), and the large one is 15.5 x 19.9375 x 20.875 ( in inches ). In Indian Bank, the rate of the small locker is Rs. 500 P.A, the medium one is Rs. 500 P.A.

The revised agreement mandated that banks prevent fire, theft, and building collapse while limiting their liability to 100 times the annual locker rent, The new directive further stipulated that 50 per cent of locker renters should sign the updated agreement by the end of June 2023.

Allocation Agreement means an executed agreement among all Participants of a Pass-Through Entity, or among all Owners of a building having multiple owners, setting forth the method for allocation of the Historic Preservation Investment Tax Credit agreed upon among the Participants or Co-owners.

If someone has not renewed his/her agreement, it's better to reach out to the bank and update the locker agreement if required, said Adhil Shetty, CEO at BankBazaar.com while talking to CNBC-TV18.com. "It is also advisable that they access their lockers at least once a year.

The revised agreement mandated that banks prevent fire, theft, and building collapse while limiting their liability to 100 times the annual locker rent, The new directive further stipulated that 50 per cent of locker renters should sign the updated agreement by the end of June 2023.