...........According to RBI guidelines, demanding a deposit or levying insurance charges to rent out a locker is a restrictive trade practice. And new customers (only new ones) can complain to the apex bank and the head office of the bank where one applied for a locker. The regulator also says banks should maintain a wait list of applicants for lockers, give them a number and ensure complete transparency in the allotment of lockers. However, experts say while banks will try and squash the charges, RBI’s redressal system can be frustratingly slow.
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