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Questions asked by panel members

Here is the list of questions asked by panel members in Mock interview. This is provided by candidates who attended mock interview in Trichy. What are the questions asked by panel members? Self intro, mechanical questions, why arrears, fiscal policy, rbi related questions, payments Bank, private banks, pm awas Yojana What is the difference between nationalized banks and public sector banks? What is hypothecation, pledge and mortgage? What are the types of ways we can return the money to someone? What is banking regulation act? Self intro What is bank About my education Why banking after your degree How ur degree is useful in banking Neft and rtgs diffrence Crr amd slr rate What is budget Demand and term deposit Deficit What's rbi function What's clean note policy And banking terms explanation And asked about career cap and why I didn't pursue higher education Details about mudra loan You have a long gap after the degree so panel members won't select you. There is only 3...
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RBI’s Revised Bank Locker Rules

RBI’s Revised Bank Locker Rules



The Reserve Bank of India’s revised bank locker rules will come to effect from January 1, 2023.

What are the revised bank locker rules?

The revised bank locker rules were released by the RBI on August 2021. All the existing locker depositors are required to provide proof of eligibility to access renewed locker arrangements.

Some of the key features of the new rules are:

Model Locker Agreement

Lenders are directed to use the Indian Banks’ Association (IBA)-drafted model locker agreement, which was created as per the Supreme Court orders and guidelines. The banks are required to ensure that there is no “unfair terms and conditions” in their locker agreements. The terms of the agreement must not be more “onerous than required in ordinary course of business” to safeguard the bank’s interests.

CCTV Cameras in Safe Deposit Areas

The banks are required to install CCTV camera at entry and exit points of the strong room and the common areas of operation. The guidelines mandates preserving CCTV camera recording for a minimum of 180 days.

If any customer has complained to the bank about theft or security breach of his or her locker, the bank must preserve the CCTV recordings until the police investigation is completed and the dispute is settled.

Depositors can get up to 100 times the bank charges if the valuables stored in the vaults are ransacked or lost due to fire or building collapse. However, banks are not liable for damages or loss caused by natural calamities or “Acts of Gods”.

Government Raids

The banks are required to give prior information to the customer via letter and email/SMS about the government raids of the locker or articles deposited for safe custody.

Term Deposits as Rent

The new guidelines allow banks to demand term deposits during the allocation of a locker that can be collected as a rent for 3 years. This rule is not applicable for existing locker holders and those with satisfactory operative accounts.

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Questions asked by panel members

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