Top News

Bank Locker: Many banks across the country provide bank locker facilities to their customers to keep valuables. However, these banks charge the lockers for the locker. Every bank has different charges for lockers (bank locker charge), in such a situation, the question often comes to the minds of people if the goods kept in the locker are stolen, then how will the bank pay for it? Let us know about the rules related to bank lockers in the news.

How much payment is received in case of theft-

Experts say that RBI (Reserve Bank of India) implemented an act on 18 August 2019, under this act, the amount of rent you are paying for lockers in your bank. If your goods are stolen, then in such a situation the bank will pay you only a hundred times the rent. If you have kept more than that in your bank locker, then according to the rules (safe deposit lockers), the bank will not be responsible for it. The bank will pay only a hundred times the amount.

What things are needed when the goods are recovered-

The expert also said that if there is a theft during that time the goods in the lockers (safe deposit lockers) are also stolen. Then the police recover the goods. In such a situation, it is not so easy for the consumers to get their goods.

According to the rules, if the stolen goods are recovered from the lockers, then proof of the goods is asked from the bank, because the goods kept in the locker belong to the public, how many valuable goods are kept in the locker (locker rules updates), only the consumer knows. Therefore, when the goods are recovered, you will have to present the purchase receipt or other proof of the goods kept in the locker to the bank. Only after which the consumer will be able to get the goods.

Other facts related to bank lockers-

The expert says that if the key of your locker is lost, you should immediately inform the bank about it. Along with this, if in any condition the bank locker is broken for the need of the consumer, then the consumer will have to bear the cost of it. After breaking the locker, it is mandatory for the locker holder (locker holder rules) and the bank officer to remain present in the locker room till the entire process is completed.

Under what circumstances can the locker lock be broken-

Consumers have to pay charges for the bank locker. If the consumer does not pay the locker rent for three years due to any reason, then in such a case the bank has the right to break the locker and the bank can recover the rent by breaking the locker, but in this case, the rules change that if you do not visit the locker for seven years, then the bank can break the locker even in this situation.

Along with this, if a criminal case is registered against the locker user and the agency suspects the presence of suspicious items in the locker (rules for breaking locker), then the locker can be broken by the banks even in the absence of the user, but for this the presence of police officers is mandatory.

How much do banks have to compensate for the locker?

If there is a theft in the bank and the lockers are broken, then the bank first contacts the locker holder. Following the rules (locker rules), after the theft, the holder is asked to fill in the details of the items kept in the locker in a form.

After this, the bank investigates, and then as per the RBI guidelines (RBI Guidelines for bank locker), the bank compensates the locker holder 100 times the rent of the locker. Understand it with an example, if someone has paid five thousand rupees rent, then that locker holder will get compensation of up to five lakhs.

How to claim stolen goods -

Even after the stolen goods are recovered, the locker holder does not get the goods just like that. Consumers have to present proof to the bank when the stolen goods are recovered from the bank locker. For example, if the jewellery is yours, then you have to provide the receipt of the jewellery or a picture of it. Only after this, the goods are returned to you.

Compensation in case of natural disaster -

The bank will be responsible in other circumstances as well. If there is a fire in your bank and the goods kept in the locker burn in the fire, then also the bank will be responsible, in such a situation also the consumer will have to pay 100 times the rent (Compensation to the locker holder), although this rule is not applicable for a natural disaster. The bank will pay compensation only in certain special circumstances.

Disclaimer: This content has been sourced and edited from Hr Breaking. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.