these last few days The termites ate Rs 5 lakh kept in the locker of Citizen Cooperative Bank located in Sector 51, Noida, Uttar Pradesh. This turned out when the customer opened the locker after about 3 months. He immediately complained to the bank manager and demanded his money back. However, the bank manager categorically refused to give the money, citing the rules.
In such a situation, the question arises: when a customer pays rent to keep the goods safe in a bank locker, why does the bank not consider it its fault if the goods are damaged?
So today in important news we will talk about what are the guidelines of RBI regarding bank locker? You will also learn that-
What items can be kept in a bank locker? When can a bank refuse compensation? When can a bank break a customer’s locker?
Expert: Raj Shekhar, Director, Bank of Maharashtra, Dehradun
Question: What is the bank’s responsibility regarding the bank locker? Answer – The Reserve Bank of India (RBI) has implemented new rules regarding the liability of banks regarding bank lockers from January 1, 2022. According to these rules, the bank will pay compensation in case of fire, theft , collapse of a building or fraud committed by bank employees. For this, the banks’ liability will be 100 times higher than the annual rent of the locker. This means that if a customer pays Rs 2,000 as rent for keeping his belongings in a bank locker, the bank will pay him Rs 2 lakh as compensation.
Question – Why is the bank not obliged to return the notes eaten by termites in the bank locker? Answer – Rajshekhar, director of the Bank of Maharashtra in Dehradun, says RBI has clear guidelines regarding the items that should be kept in the bank locker. According to this, cash or foreign exchange cannot be kept in bank lockers.
Therefore, if the notes in the locker are eaten by termites or are spoiled for any other reason, the bank bears no responsibility in such a situation. For this, the bank will not compensate the customer because he has violated the bank’s rules.
Question: What can you keep in a bank locker? Answer- As per the new RBI guidelines, a contract is signed between the bank and the customer. The customer thus receives detailed information on the objects he can keep in the locker. Often people keep such items in bank lockers, which is not legally valid.
Understand from the chart below what kind of things can be kept in a bank locker.
Question: What is the rule in the event of theft of property or fire? Answer – If the goods are stolen from the locker of the bank, if there is a fire in the bank building or if the building collapses, due to which the goods kept in the locker are damaged, the bank is then fully responsible. This is considered negligence on the part of the bank. For this, the bank will compensate the customer.
However, the Bank is not responsible if the bank locker is damaged due to natural disasters such as flood, earthquake or lightning. No compensation is granted in such a case.
Understand this from the graph below.
Question: Why is it not allowed to keep notes or currency in a bank locker? Answer: Keeping notes or currency in a bank locker increases the risks of tax evasion and money laundering. Therefore, RBI does not allow keeping notes or currencies in bank lockers.
Question: If termites eat documents stored in a bank locker, who is responsible? Answer: If termites eat the documents kept in the bank locker, the responsibility will lie with the bank. RBI says the customer pays the rent for keeping the safe in the locker. The termite infestation in the documents is negligence on the part of the bank. The customer can therefore claim compensation.
Question: What will happen if a customer loses the locker key? Answer – If the locker key is stolen or lost, the customer must immediately inform the bank. For this, a written request letter must be given to the bank. Apart from this, a report of loss of locker key must be filed at the nearest police station.
After verifying the police FIR and all documents, the bank will deposit the fee for the new key. After a while, the bank will give information about issuing a new key. If the lost key is found, it must be returned to the bank.
Question: What will happen if the person in whose name the bank locker is named dies? Answer: People use a bank locker to keep valuable jewelry, property, or important documents related to the will safe.
According to RBI rules, after the death of the owner of the locker, his agent has the right to access the locker and delete its contents.
However, the candidate will have to submit an application along with the required documents to the bank to use the locker. The agent bank can maintain the locker or close it.
Question: Is it necessary to have a bank account to get a locker? Answer- No, it is not at all necessary to have a savings account or a current account in the same bank to have a bank locker. You can take a locker in any bank by following the rules.
Question – How much does the rent for a bank locker cost? Answer- Renting a bank locker is decided based on its size and city. This rate varies according to metropolitan, urban, urban and rural areas. Generally, this fee starts between Rs 500 to Rs 20,000. Apart from rent, the bank may charge additional fees in the name of registration fee, visiting fee, excess rent. The locker rent of government banks is lower than that of private banks.
Question: When can the bank break the locker itself? Answer- According to RBI, if an account holder fails to pay his locker rent for 3 years or if the locker remains inactive for 7 years, then in such a situation the bank first informs the customer through mail. Apart from this, the bank also contacts on the registered email id and mobile number.
If the customer cannot be contacted by any means, the bank will resort to public information. To do this, the bank will publish information in a local newspaper and an English newspaper.
Even after that, if no response is received, steps will be taken to break the locker in the presence of a bank official and two witnesses. A video of this entire process will also be made. If an agent or legal heir of the client contacts the bank, the items recovered from the locker will be returned to him after completing all the documents.
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