Provision of Safe Deposit Locker facility by NBFCs

Reserve Bank of India

RBI/2015-16/302
DNBR(PD).CC.No. 072/03.10.001/2015-16

January 28, 2016

All Non-Banking Financial Companies (NBFCs)

Dear Sirs,

Provision of Safe Deposit Locker facility by NBFCs

The Bank has received proposals from NBFCs seeking approval for offering safe deposit locker facilities.

In this regard it may be noted that providing safe deposit locker facility is a fee based service and shall not be reckoned as part of the financial business carried out by NBFCs.

NBFCs offering safe deposit locker facility or intending to offer it, shall disclose to their customers that the activity is not regulated by the Bank.

(C. D. Srinivasan)
Chief General Manager