Do not expect any compensation for theft or burglary of valuables in safe deposit boxes of public sector banks as the locker hiring agreement absolves them of all liability. rnThis bitter truth was disclosed in an RTI response by the Reserve Bank of India (RBI) and 19 PSU banks.
PTI
NEW DELHI
Stung by the revelation, the lawyer who had sought information under the transparency law has now moved the
RTI response reveals all public sectors banks have washed their hands of any responsibility of their customers’ safe deposit lockers
The RTI applicant, lawyer Kush Kalra, who had sought information under the transparency law, has now moved the Competition Commission of India (CCI) alleging “cartelisation” and “anti-competitive practices” by the banks in respect of the locker service
According to the information availed by the lawyer, the unanimous reason given by the 19 banks, including Bank of India, Oriental Bank of Commerce, Punjab National Bank, UCO and Canara, among others, is that “the relationship they have with customers with regard to lockers is that of lessee (landlord) and lessor (tenant)”
