Mumbai, 24th January 2023: On Monday (January 23), the deadline for renewing locker agreements between consumers and banks was extended by the Reserve Bank of India (RBI) till December 31, 2023.

The extension was granted by the central bank after it was found that many consumers failed to sign the updated agreement by the original deadline of January 1, 2023.

The RBI has instructed the banks to complete the process by December 31, 2023.

According to a statement from the RBI, banks have been urged to make the required preparations to make it easier for the updated agreements to be executed by assuring the availability of stamp papers, among other things,