RBI has issued new directions for Locker Facilities
Comply digitally with Leegality

VNS GraphicsVNS Graphics

Banks need to comply with RBI's new paperwork requirements for locker facilities - by January 1, 2023

  • Banks must enter into signed and stamped locker agreements - signed by both customers and the Bank.
  • Banks must sign locker agreements with customers who have EXISTING lockers as well
  • Nomination facility forms for lockers must be signed by customers and acknowledged by the Bank
  • Banks must conduct an ID verification of customers before letting them operate the locker
  • Written undertaking and acknowledgement for breaking open the locker

We'll help you go live with a digital flow for your locker agreements/paperwork in less than 28 days

Compliance
15 different eSign options
Get India’s most comprehensive eSign stack for your locker agreements
Compliant
Compliant Digital Stamping
Stamp your agreements digitally in 28+ states in a compliant way
Enforcibility
Easy RBI auditability
With Signer Verification, Instant Storage and Evidence Act compliant Audit Trail - ensure easy enforcement and happy RBI audits
API
Clear backlog without API integration
Renew and store locker agreements for existing customers in 4 days without an API integration
Support
Integrate with minimal IT support
Our Smart API can be integrated into your CBS with minimal IT/tech bandwidth
Timeline
Our expert team will help you meet your timelines
Get a dedicated document expert and round-the-clock support to help you meet internal timelines
Dhairya Shah
VNS Graphics

“The customer signing process is so simple now. There is no DSA calling them, no sales manager calling them - they don’t need to plan and coordinate a physical visit anymore. They can sign in comfort from their sofa using their mobile or computer. It’s so seamless and simple - they view the document, enter their Aadhaar number, get OTP, enter OTP - and done!”

Dhairya Shah
Head - Projects

Do you want to comply with paper or with Leegality?

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Painful “bank paperwork” process for your customers - old and new

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Bank officers will need to spend hours daily to process and execute locker agreements

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Locker agreements will take days to execute

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Locker agreement execution will add to your direct costs

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Physical agreements are prone to errors and can get lost/damaged - leading to compliance risk

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Delightful paperwork process - customers can sign from home

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Automate execution of locker agreements - so that Bank Officers can focus on their core work

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Execute locker agreements in minutes

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Slash direct costs of paperwork

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Leegality agreements are stored instantly in your core banking system - easy to retrieve in RBI audits

Complying via paper agreements

Con icon

Painful “bank paperwork” process for your customers - old and new

Con icon

Bank officers will need to spend hours daily to process and execute locker agreements

Con icon

Locker agreements will take days to execute

Con icon

Locker agreement execution will add to your direct costs

Con icon

Physical agreements are prone to errors and can get lost/damaged - leading to compliance risk

Complying with Leegality

Pro icon

Delightful paperwork process - customers can sign from home

Pro icon

Automate execution of locker agreements - so that Bank Officers can focus on their core work

Pro icon

Execute locker agreements in minutes

Pro icon

Slash direct costs of paperwork

Pro icon

Leegality agreements are stored instantly in your core banking system - easy to retrieve in RBI audits

Book a free demo

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In our FREE demo we’ll:

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We’ll sit with you and map out your workflow in detail

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We’ll show you a live demo tailor-made for your locker agreement use case

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We’ll give you an actionable way to go-live in less than 30 days

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