Q.1003 Lost SBI bank locker key

what is the penalty - I am NRI in

Dubai

Question: I am a NRI in Dubai and have lost my state bank locker key. My bank is in Kochi. What money will I have to pay to the bank for lost key and get new key made. please help Srinivasan Answer: If an account holder loses his/her bank locker key, the banks will generally charge: 1. A service charge. In 2014 the fee by State Bank of India [SBI] I believe was Rupees 843 [including the service tax] It may be slightly higher now. 2. In addition to the service charge, your bank will also charge for the entire cost of breaking open the lock and getting the lock replaced by the manufacturer of the lockers. If you have not already done so, notify your bank in writing about the loss of your bank locker key. There are not enough safeguards to protect a bank locker holder from someone else who shows up with the locker key. I don’t have a locker at SBI so I can’t say what their procedure is to allow access to lockers, but I do have a locker at another bank and their locker access procedure is unbelievable. I have written about my own experience a few years ago, I went to my bank, did not remember locker number, was asked for key number [which is actually stamped on the key] and by the key number bank clerk found my locker number, gave me a register to sign myself in and allowed access. No verification of signature! They did not even bother to ask for my identity or any document to prove who I was. I mentioned this to the bank manager on my way out. Sadly this has not changed as I have gone through the same procedure again. Update: As of April 1, 2017 The State Bank of India service charge in case a bank locker key is lost by a customer is Rupees 1000 plus applicable service tax. Customer to be also charged the actual cost of breaking open the locker and replacing the lock by the locker manufacturer.