Mumbai, April 17: The Reserve Bank of India (RBI) has allowed banks to break open a locker, if it is not used for more than a year.

“In case the locker remains unoperated for more than a year, the bank would have the right to cancel the allotment of the locker and open it, even if the rent is paid regularly,” the RBI guidelines, issued in the wake of a recent incident where explosives and weapons were found in a locker, said.

The banks, however, will have to give notice to the customer asking the reason for not operating the locker before opening it. If the customer is an NRI or is out of town because of a transferable job, banks may allow the person to continue with the locker.

The RBI has also asked banks to follow the know your customer (KYC) guidelines strictly before allotting lockers.

It has asked banks to contact the locker hirers, who have not operated the lockers for one year (in case of higher risk customers) or three years (in case of medium risk customers), to either operate the locker or surrender it.

The RBI has asked banks to adhere to the KYC norms in respect of the nominees also.

The central bank has also advised banks not to ask for any type of succession certificate or indemnity bond from the survivor or the nominees in case of the death of a locker-hirer for giving them access to the lockers.

In cases where the deceased locker hirer had not made any nomination, banks should adopt a customer-friendly approach and give the access of the deceased’s locker to legal heirs. Similar procedure should be adopted for the articles under safe custody of the bank, the guideline said.