New Delhi. Banks provide locker facilities to their customers. You can keep your valuables and documents in the locker. Recently, after 145 grams of gold and diamond jewellery kept by a woman in a State Bank of India (SBI) locker in Bengaluru went missing, the security of bank lockers and the rules related to it are in discussion. Many people have this question in their mind that if any valuable thing kept in the bank locker is lost or stolen, will the bank compensate the customer for the loss?
According to the rules of the Reserve Bank of India, if the items kept in the locker are damaged due to the negligence or lapse in security of the bank, then the bank will have to compensate for the loss. Banks are responsible for incidents like fire, theft, robbery or building collapse. Yes, if the items kept in the locker are destroyed due to natural disasters like flood or earthquake, then the bank will not be responsible and will not compensate the customer for the loss. But, if the bank has not made the prescribed arrangements to protect against natural disasters, then it may have to compensate the customer.
How much compensation will be received?
It is also important to know here that if the item kept in the locker is lost or destroyed, the bank does not pay the full value of that item to the customer. The compensation is only up to 100 times the annual rent. For example, if the annual rent of the locker is ₹ 1000, then the maximum compensation can be up to ₹ 1 lakh only.
What to do if items are stolen or tampered with in the locker?
- First of all, file an FIR in the nearest police station.
- Immediately submit a written complaint to the bank and take its receipt.
- Ask the bank for CCTV footage of the locker room.
- If the bank’s response is not satisfactory, a complaint can be made to the Banking Ombudsman of RBI.
Are the things kept in the locker insured?
No, the items kept in a bank locker are not insured by the bank. If the customer wants, he can get the jewellery or valuables insured from insurance companies. Such insurance also has the facility that if the insured item is kept in the locker and is stolen or damaged, the insurance company gives compensation.
Agreement is made on stop paper
RBI had issued revised rules for Safe Deposit Locker in August 2022, which have come into effect on old locker holders from January 2023 and on new customers from January 2022. Under these rules, it is now mandatory for banks to enter into a locker agreement with customers on a new stamp paper. Banks can charge rent for a maximum of three years at a time. The bank has to make public the information about vacant lockers and waiting lists.
Two people can take a joint locker together
If the customer wants, he can also take a joint locker. For this, both the customers have to come to the bank and sign a joint memorandum. A nominee can also be made for the locker. If the locker holder dies and he has made someone a nominee, then after complete verification, the bank allows that person to open the locker and take out the items. You cannot keep whatever you want in the locker. RBI has also made a list of what can be kept in the locker and what cannot.
