No, you cannot place money, specifically cash, in a bank locker. The Reserve Bank of India (RBI) prohibits storing cash in bank lockers.
Here's a breakdown:
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RBI Regulations: The Reserve Bank of India doesn't allow cash to be stored in bank lockers. This is because bank lockers are meant for storing valuables like jewelry, important documents, and other assets that are not illegal or dangerous.
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Intended Use of Lockers: Bank lockers are intended for the safekeeping of valuables, documents, and other assets.
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What You Can Store: While cash is prohibited, you can store items like:
- Gold and jewelry
- Important documents (deeds, wills, etc.)
- Other valuables
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Amount of Gold: Interestingly, the RBI does not regulate the amount of gold you can keep in a bank locker.
In summary, while bank lockers offer a secure storage solution, they are not designed or permitted for storing cash. They are best utilized for keeping valuables and documents safe.
