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RTI Response Reveals Banks not Liable for Loss of Items in Lockers
June 28, 2017
If you think your valuables stored in a bank’s locker are safe, think again. It has been found that as per the locking hiring agreement public sector banks are not liable for providing any compensation in an event of theft in the safe deposit boxes. This revelation was made as an advocate filed for an RTI response from 19 public sector banks and the Reserve Bank of India itself.
According to 19 banks viz. Oriental Bank of Commerce, Canara, UCO, etc. that were sought for a response, the reason behind their non-responsibility towards robberies or thefts of the lockers is because the relationship they have with their customers is akin to that of a landlord and tenant. Thus, according to them, the locker users are themselves responsible for their valuables.
