<span style="color: #222222;">The Reserve Bank of India has extended the deadline for renewal of agreements for the existing safe deposit lockers in a phased manner by the 31st of December 2023. <br />''<br />''In a press release, RBI said that the deadline has been extended as it has been noticed that a large number of customers are yet to sign the revised agreement, adding that in many cases, the banks are yet to inform the customers about the need to revise the agreement.<br />''<br />''Accordingly, RBI has banks to notify all their customers of the revised requirements by 30th April 2023 Setting up intermediate milestones, RBI has said the banks need to complete at least 50 percent of registrations by the 30th of June and 75 percent by end of September. <br />''<br />''Banks have been further advised to facilitate execution of the fresh/supplementary stamped agreements with their customers by taking measures such as arranging stamp papers, franking, electronic execution of the agreement, e-stamping, etc. and providing a copy of the executed agreement to the customer.<br />''<br />''The apex bank has said that lockers, frozen due to the non-execution of the agreement as per the earlier deadline of the 1st of January 2023, must be unfrozen with immediate effect. RBI has asked all banks to report the status of compliance with these instructions on the DAKSH supervisory portal on a monthly basis. </span><br />