Bundles of notes kept in bank lockers were eaten by termites: Should banks pay compensation if goods kept in lockers are damaged? What can be put in it and what not, know what RBI rules say?

Recently, 5 lakh rupees kept in the locker of Citizen Cooperative Bank in Sector 51 of Noida, Uttar Pradesh was eaten by termites. This came to light when the customer opened the locker after about 3 months. He immediately complained about the matter 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 that when the customer pays rent to keep the goods safe in the bank locker, then why the bank does not consider it their fault if the goods get damaged.

So today In work news We will talk about what are the guidelines of RBI regarding bank lockers? You will also know that-

Expert: Raj Shekhar, Manager, Bank of Maharashtra, Dehradun

Question- What is the responsibility of the bank regarding the bank locker? Answer- The Reserve Bank of India (RBI) has implemented new rules on 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 bank building or fraud by bank employees. For this, banks will have to pay 100 times more than the annual rent of the locker. That is, if a customer pays a rent of Rs 2000 to keep his belongings in a bank locker, the bank will give 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: RBI has clear guidelines on what items should be kept in bank lockers, says Rajashekhar, manager of Bank of Maharashtra in Dehradun. According to this, no person can keep cash or currency in a bank locker.

Therefore, if the notes in the locker get eaten by termites or get spoiled due to any other reason, the bank does not take any responsibility in such a situation. Bank is not obliged to compensate the customer for this. Because the customer has violated the bank's rules.

Question- What can be kept in a bank locker? Answer- According to new RBI guidelines, an agreement is signed between the bank and the customer. This gives detailed information to the customer about what items he can keep in the locker. Often people keep things in bank lockers, which are not legally allowed.

From the graphic below, understand the types of items that can be kept in a bank locker.

Question: What is the rule if the goods are stolen or caught fire? Answer- If the goods are stolen from the locker of the bank, there is a fire in the bank building or the building collapses, due to which the goods kept in the locker are damaged, then the bank is fully responsible. This is considered negligence 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 calamities like flood, earthquake or lightning. No compensation is given in such case.

Understand this from the graphic below-

Question- Why is it not allowed to keep notes or currency in bank lockers? Answer- Keeping notes or currency in bank lockers increases the chances of tax evasion and money laundering. So RBI does not allow keeping notes or currency in bank lockers.

Question- If the documents kept in the bank locker are destroyed by termites, who is responsible for it? Answer- If the documents kept in the bank locker are destroyed by termites, then the responsibility will be with the bank. RBI says that the customer pays rent to keep the safe in the locker. Termite infestation in documents is negligence on the part of the bank. So customer can claim compensation.

Question- What happens if the customer loses the key to the locker? Answer- If the locker key is lost or stolen, the customer should inform the bank immediately. For this a written request letter has to be given to the bank. Apart from this, a report of missing locker key has to be filed at the nearest police station.

After verifying the police FIR and all the documents, the bank will ask to deposit the fee for the new key. After some time 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 happens if the person in whose name the bank locker dies? Answer- People use bank lockers to keep valuable jewelry, property or very important documents related to will safe.

According to RBI rules, after the death of the owner of the locker, his nominee has the right to access the locker and take its belongings.

However, the nominee has to submit an application along with the required documents to the bank to use the locker. Nominee can keep the bank locker open or closed.

Question- Is it necessary to have a bank account to get a locker? Answer- No, it is not necessary to have a savings or current account with the same bank for a bank locker. You can get a locker in any bank by following the rules.

Question- How much is the rent of a bank locker? Answer- The rent of a bank locker is determined according to its size and city. This fare varies across metro, city, town and rural areas. Generally this fare ranges from 500 rupees to 20,000 rupees. Apart from the rent, the bank may levy some additional charges in the name of registration fee, visiting charge, rent in excess of dues. Rent of government bank lockers is less as compared to private banks.

Question- When can the bank break the locker itself? Answer- According to RBI, if an account holder does not pay his locker rent for 3 years or the locker remains inactive for 7 years, the bank first informs the customer through a letter. Apart from this, the bank also contacts the registered email id and mobile number.

If the customer cannot be contacted by any means, the bank will resort to public information. For this the Bank will publish the information in local newspaper and English newspaper.

Even after this, if no response is received, action will be taken to break the locker in the presence of the bank official and two witnesses. A video of this entire process will also be made. If a nominee or legal heir of the customer approaches the bank, the items recovered from the locker will be returned to him after completing all the paperwork.