Bank Locker New Rules: Finance Ministry changes rules regarding bank lockers, now priority list will have to be given

Starting November 1st, major changes are underway in banking regulations. So, let’s explore the new rules regarding bank lockers. Let’s explore them…

Bank Locker New Rules: Banks are about to undergo a major overhaul regarding the bank locker that holds your valuables. India’s Finance Ministry has announced several major changes to the banking system effective November 1, 2025. This includes changes to the rules for everything from bank accounts to locker storage, along with new regulations.

In fact, a total of five laws have been amended during this period. These include changes to the rules for everything from bank accounts to your locker. Let’s explore the new bank rules and the changes to the bank locker rules.

Locker Rules

It is believed that the changes made in the banking system will prove to be very helpful for people. Meanwhile, the rules related to bank lockers have also been changed. Under the new rules, the locker owner will now be required to provide a priority list, which will indicate who can open the locker after their death. Nominations for bank lockers can only be made one by one, meaning only four names can be registered for valuables such as jewelry and documents. However, it is important to note that these four names will appear one after the other, meaning only if one of the nominees is present will the next person be able to open the locker. This is to resolve disputes and simplify the process. Now, only one person can open the locker at a time, eliminating any confusion or delays.

Why the Changes?

There are several key reasons behind the changes in bank rules. In fact, customers can now easily assign a fixed percentage of their savings to each nominee, bringing the total to 100 percent. This will make the entire process transparent and easy. Furthermore, the Banking Company Rules 2025 will be issued soon. Under these rules, all banks will specify the process for making a nomination, rejecting it, and other forms, and the process will be the same across all banks. Its primary objective is to strengthen banking, increase security, and provide quality banking services.

Read More: Weather Update: Cyclone Montha becomes active, heavy rain alert in these states

The post Bank Locker New Rules: Finance Ministry changes rules regarding bank lockers, now priority list will have to be given first appeared on informalnewz.

News