Read the statements carefully regarding RBI locker guidelines: Statement 1: When a 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 following the prescribed legal procedure and recover its charges. Which of the following is correct?

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Banking · Safe Deposit Lockers

Verified Solution4 OptionsUpdated: October 2026👁️1 View

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Correct answer

Both Statement 1 and Statement 2 are correct.

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Answer 1

Both Statement 1 and Statement 2 are correct.

Answer 2

Only Statement 1 is correct.

Answer 3

Only Statement 2 is correct.

Answer 4

Both Statement 1 and Statement 2 are incorrect.

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