Rules regarding bank lockers have also changed, requiring a priority list to be established.

A major change in banking regulations is scheduled to take effect on November 1st. Let's explore the new rules regarding bank lockers. Let's explore them...

Bank Locker New Rules: Banks are now undergoing a major overhaul regarding bank lockers, which are safekeeping of your valuables. India's Finance Ministry has announced several major changes to the banking system effective November 1st, 2025. These include 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. So, let's explore the new bank rules and the changes to bank locker regulations.

Locker Rules

It is believed that these changes to the banking system will prove to be very helpful for people. Meanwhile, bank locker rules have also been changed. Under the new rules, the locker owner will now be required to provide a priority list, which will determine 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's important to note that these four names will appear one after the other, meaning only if one person is absent will the other person's name appear on the list and be able to open the locker. This is to resolve disputes and simplify the process. 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 to bank rules. Customers can now easily assign a fixed percentage of their savings to each nominee, making the total 100 percent. This will make the entire process transparent and easy. Additionally, the Banking Company Rules 2025 will be issued soon. These rules will specify the process for nominations, rejections, and other forms for nominations in all banks, and the process will be the same across all banks. Its primary objective is to strengthen banking, enhance security, and provide quality banking services.