Locker.pptx

…भरोसे का प्रतीक
…the name you can BANK upon!
punjab national bank
Learning & Knowledge Management Centre
CONTENT PARTNER: name of Training Centre
SAFE DEPOSIT VAULTS(LOCKERS)
What is Locker?
For the safety of customer valuables, locker also known
as Bank's Safe Deposit Vaults/facility offers a safe,
trustworthy space to store them, with a nominal annual
rent (payable in advance),depending upon the size of the
locker and the centre at which the branch is located.

Who Can Avail Locker Facility ?
Customers who maintain a Saving/Current Account;
Lockers can be leased out to illiterate and blind persons.
however lockers cannot be leased out to minors

LOCKER RENT &TYPES
 One time Registration charges at the time of leasing out of
locker
At rural/ semi urban area: Rs.200/-
At urban/ metro area: Rs.500/-
 Annual Locker Rent as applicable

Security deposit required for lockers: a Security deposit by way
of Term Deposits (for the lease period of locker) required for
lockers w.e.f. 01.10.2018 , RBD(R) 32/2018

Locker Types:In our bank, we have 13 different sizes of lockers. However, all
these lockers are being broadly categorized in five categories as per
different sizes, as under:

Availability of Rent Concession
• One time Registration charge is waived in case of staff
members/ Ex-staff members.
• Circle Head can waive one time registration charges for
branches in Rural & Semi- Urban areas in full, but no
discretion for waiver of one time Registration charges for
branches in Metro & Urban areas.

FORMALITIES REQUIRED FOR CUSTOMER:
At the time of letting out a locker, signatures on the following forms must be obtained
from the lessee(s):-
• Rent Deed Memorandum (PNB-80):
• All the pages of Form No. PNB-80 is to be signed by the lessee(s) and his/her/their
proper introduction should be obtained.
• "Password" on Specimen Signature Card (PNB-95) must invariably be obtained at
the specified place.
• Specimen signatures on PNB-80 and PNB-95 will be attested by the Incumbent In-
charge/Custodian.
• On letting out new locker, letter as per format will be sent to the locker
hirer through Regd. AD.

LOCKER OPERATION:
• Proper verification and satisfaction by the attendant
official about lessee or his/her 'Authorized Person'
visiting for operating his/her locker should be done.
• In case the visitor is unable to give the locker
number, the attendant will obtain the key number
from him and find out the locker number in the
system.
• Thereafter, the signatures of the visiting
Lessee/Authorized Person will be obtained in the
Kacha Visit Register (PNB-82).

SECURITY ASPECTS RELATING TO SAFE DEPOSIT LOCKERS:
• 1. Branches located in isolated areas or situated in/adjacent
to vacant buildings may be shifted to safer locations after
approval of Zonal Manager.
• 2. Branches which cannot be shifted should take extra
security measures such as
a) E-surveillance for these branches on priority.
b) Hiring of night chowkidar/care taker
c) Strengthening of strong room and
cash safe, if it is not as per the RBI/bank guidelines.
d) Go in for safe cum locker cabinets.
• 3. The responsibility for checking the functioning of security
equipment on daily basis be fixed in branches, through
Office Order.

SECURITY ASPECTS RELATING TO SAFE DEPOSIT
LOCKERS(Contd):
• 4. Security clearance should be ensured in the branch.
• 5. Inside the strong room/Safe Deposit Vault (Lockers) at
least one camera and PIR sensor facing the entry/exit
and covering any other opening in the strong room like
ventilator/exhaust fan etc. be installed..
• 6. Customers be advised to use their own padlocks also
for additional safety of the locker.
• (Reference RBD (RESOURCES) CIRCULAR NO.44/2019)

Rent Recovery & Break Open
• Under the scheme Sugam Fixed Deposit/Multi Benefit Fixed
Deposit/Varshik Aay Yojna,3 years rent and charges for braek open
be taken at the tome of locker rent out and be kept under Bank’s
lien. An undertaking must be obtained from lessee for recovering
locker rent from the balance in saving/ current A/c.
• In the absence of standing instructions for recovery of rent, the
lessee may be reminded for payment of rent, at least a fortnight
before the due date of the payment. In case rent is not paid on due
date, a reminder should be issued. The operation on the locker
should not be permitted, till the time arrears of rent are paid by the
lessee.

Rent Recovery & Break Open(contd.)
• The lessee, who fails to pay the rent even on issuance
of the second reminder, should be contacted personally,
if available locally.
• If all the above efforts fail, a final notice must be issued to
the lessee under registered AD cover, on the last known
address on record.
• In case rent is still not paid by the lessee nor any
communication is received by him, the matter will be
referred to the Circle Head for necessary Break Open.

Break open of Lockers
• For large branches, the power to break open the lockers shall be
exercised by a committee of Senior Manager and Second Man & for
small and medium branches permission to be obtained from the Circle
Head.
• Locker must be broken open in the presence of the Incumbent In-charge
and two independent witnesses.
• In case of ELB/ VLB branches, Incumbent In-charge may through an office
order designate an officer in Scale III (GBPA Holder) to form part of the
team as per above.

Break open of Lockers(contd.)
• It is further advised that witness of only those persons be taken who can
be produced as a witness in case there is any dispute.
• CM/ AGM of very large branches / exceptionally large branches may also
exercise such powers of breaking open the lockers in respect of their
branches in case of default accounts for realization of arrears of locker
rent.
• Large branches shall send a quarterly statement to their controlling offices
in respect of the lockers broken open and recovery of rent effected there
from during the quarter.

• In case of loss of key of the lockers, a service charge of Rs 1000/-+ ST has
to be recovered from hirer in addition to the actual expenditure incurred
in breaking open the locker and changing of key by manufacturer of
lockers
• An inventory of all the contents of the locker will be prepared in the
presence of witnesses and the weight of each article will be recorded in
the inventory under the signatures of the Incumbent Incharge and the
witnesses as well the shroff by indicating their full particulars.
• In the event of finding cash and FDRs / RDs (if in the same right and
capacity) pertaining to our Bank, the Incumbent In-charge of the
branches shall take a decision to appropriate amount / proceeds
thereof, if permitted by law, to the extent necessary for realization of
the Bank’ s dues and the remaining cash, if, any and other certificates
or receipts shall be sealed properly and kept in the safe custody, as
per bank guidelines.

• In the event of finding articles of bullion, sovereign, ornaments or
jewellery etc, from the locker after its breaking open, the Incumbent
In charge of the branches shall get the same valued from the
shroff, who weighed them, and the steps to sell the same by public
or private sale to the extent necessary for realization of the bank’s
dues (including breaking open charges) and the remaining articles
, if any , shall be sealed properly and kept in the safe custody.
• In case of any deficit on sale / appropriation of the contents found
from the locker upon breaking open, the Bank is entitled to recover
arrears of locker rent and all other charges incurred in this process
from the lessee personally or from all or any of the lessees in case
the locker was leased in the joint name.

Break open of Lockers(Contd.)
• In case there is nothing found in the locker and the rent is to
be waived the powers for the same lies as per SPBPR
Circular No 5/ 2014 according to which SMG-IV and above
have full powers regarding this.
• In case the amount realized from the disposal of a single
article is more than the arrears of rent, balance amount
thereof be kept in the sundry account and a reference be
made in the inventory also.

Break open of Lockers(Contd)
• On loss of the lessee's key, a suitable note will be given in the Rent Deed
Memorandum, under authentication of the custodian. Before making
arrangements to break open the locker and to replace it with a new one, an
appropriate amount will be recovered, in advance, from the lessee and kept
in sundries account.
• In the event of the locker being broken open after expiry of the term, the
arrears of rent due, will be recovered, before it is allowed to be broken open
but in case it is broken open before the expiry of the term and also if the
lessee wants to vacate the broken locker, no refund of rent, for the unexpired
period, will be allowed.
• However, if the lessee chooses to shift his valuables to a new locker, before
expiry of the term, the rent of the broken locker for the expired period will
be charged, on quarterly basis, and fresh locker allotted on usual terms.

Surrender of The Locker
• On surrender of a locker, the surrender certificate provided in the
Rent Deed Memorandum (PNB-80) must be obtained from the
lessee(s). Necessary cancellation should also be made under
authentication of the custodian
• In case, the lessee has already vacated his locker and sends the
key by mail at a later date, the Surrender Form in duplicate, should
be sent to the lessee, preferably with a self-addressed cover, and
obtained back, duly signed by him, on both the copies.
• Surrender forms, when received back from the lessee, should be pasted
with PNB-80 in the relative accounts.

Surrender of The Locker(contd.)
• After a locker has been surrendered, relative forms will be filed
locker- wise in a separate binder for closed accounts.
Correspondence and other papers pertaining to surrendered
lockers will be filed, in an alphabetical order, in an era file.
• Proper inventory of the contents inside the locker be taken in the
presence of two independent witnesses, all the claimants,
Incumbent in charge and custodian and these provisions apply
mutatis-mutandis to claim relating to articles in safe custody held in
the name of a deceased customer.
• Immediately after surrender/last operation, locker must be carefully
examined by the custodian to ensure that the lessee leaves behind
no articles in or outside the locker.

Death of Lessee:
• Death report of a lessee will be noted boldly in red ink in Rent Deed
Memorandum. Such noting will be authenticated by the custodian. In case
death report is received by means of a letter, the date of death and the
date of letter will also be noted in the relative Rent Deed Agreement and
system.
• Where a locker is rented out to more than one lessee jointly, with specific
provision, in Rent Deed Memorandum, that the operation will be allowed to
the surviving lessee(s) and in case of death of any one of the joint lessees,
the operation by the surviving lessee(s) will be allowed accordingly,
without treating it as a claim case.
• Where the legal representatives of a deceased lessee, have obtained authority
for the operation and possession of the contents of his/her locker, the seal on
the locker will be removed by the Incumbent In charge and on completion of all
the required formalities, operations will be allowed to them, against their
signatures on the Surrender Certificate, in the Rent Deed Memorandum and
the Specimen Signatures Card.

Death of Lessee(contd.)
• In case of an application made by relative(s) of a deceased lessee,
to search the latter's locker(s) for some testamentary writing, the
bank may, on proper proof and satisfaction, as to their relationship,
permit inspection of the contents of the locker to such relative(s)
without an order, from a competent court of law.
• In respect of claim to a locker, succession certificate should not be
asked for as it is not a debt. If claim is to be settled on the title
being legally established, the claimant be advised to bring “letter of
administration” from the competent court.
• Proper inventory of the contents inside the locker be taken in the
presence of two independent witnesses, all the claimants, Incumbent in
charge and custodian and these provisions apply mutatis-mutandis to
claim relating to articles in safe custody held in the name of a deceased
customer.

Death of Lessee(contd.)
• Under sub-section (3) of Section 45 ZC and sub-section (4) of the
section 45ZE of the Banking Regulation Act, 1949 , RBI has
directed that the inventory to be prepared before returning articles
left in the safe custody and inventory to be prepared before
permitting removal of the contents of a safety locker shall
respectively as per Bank’s prescribed formats.
• Claim case in respect of the contents of lockers may be disposed
off against execution of indemnity/indemnity bond on format
circulated by Law Division, based on the value of the contents of
locker and after completion of other formalities like submission of
declaration on PNB- 46 - 47, death certificate etc

SAFE CUSTODY OF ARTICLES
DEFINITION:
Safe custody of articles is a service provided by the bank to
desiring customers and it is a source of non-interest income to
the bank. Application for deposit of articles in safe custody, will
be received, on form no. PNB-156 duly filled and signed by the
customer(s), in the presence of an authorized official.

Eligibility
• Individuals
• For Joint Customers with instructions to deliver them to either or
survivor of them, should not, ordinarily be accepted. In exceptional case
the Incumbent in charge has the discretion as per bank guidelines.
• In case of deposit of an article on behalf of a minor, the application
must be signed by his/her guardian, who must also state the date of
birth of the minor, under his/her signature.
• Instructions from depositors to the effect that their articles in safe
custody may be delivered to their nominees, in case of their demise,
should be accepted on the prescribed format SC-1 (PNB-820A) and
such nominations may be cancelled/varied subsequently on receipt of
declaration, on the prescribed format, i.e., SC-2 or SC-3 (PNB-820B or
PNB-820C) from the depositor(s). Record of
suchnomination/cancellation/variation must be kept in the prescribed
register (PNB-826).

Eligibility
• All articles accepted in safe custody should be in the nature of
sealed packets, stout cloth envelopes and boxes.
• Particulars of articles taken into safe custody must be recorded in
the safe custody register, (form No. PNB-158)
• Articles in safe custody will be kept in the strong room in the joint
custody of the Incumbent In-charge / Manager / Deputy Manager
and the Head Cashier
• The bank must not admit any cognizance of the contents of sealed
packets or locked boxes left with it for safe custody and on no
account may the articles be sealed with the bank's seal or locked
with a bank padlock

SAFE CUSTODY CHARGES
• The charges for the safe custody of articles are circularized by
Head Office from time to time. Charges for the first year should be
realised in advance and efforts being made to realize the charges
in subsequent years likewise, a suitable note being made in the
safe custody register. The arrears, if any, should be recovered
before the articles are finally delivered

Locker.pptx

Recommended

Recommended

More Related Content

Similar to Locker.pptx

Similar to Locker.pptx (20)

Recently uploaded

Recently uploaded (20)

Locker.pptx