Banking · Locker Regulations
Read the given statements carefully: Statement 1: When a safe deposit locker is surrendered, the bank is required to refund the proportionate amount of the rent paid in advance based on the remaining rental period. Statement 2: If the locker rent is not paid despite repeated notices, the bank is allowed to break open the locker and recover its charges from the contents. Which of the following options is correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Both Statement 1 and Statement 2 are correct.✓
- 2Only Statement 1 is correct.
- 3Only Statement 2 is correct.
- 4Both Statement 1 and Statement 2 are incorrect.
Correct answer
Both Statement 1 and Statement 2 are correct.
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