Termites stole Rs 5 lakh from bank locker, who is responsible for this loss… will the bank give the money?

Termites gnawed away Rs 5 lakh and boxes of jewelery in the locker of Citizen Cooperative Bank located in Noida Sector-51. When the locker holder complained about this, the branch manager assured to take action in the matter as per RBI guidelines. After this, the branch manager asked all the locker holders of the bank to check their respective lockers to ensure that other lockers too were not infested with termites.

The money kept in the locker went missing

There is a huge crowd in the bank branch to check the lockers because the news has shaken the bank. Termites have completely destroyed Rs 2 lakh, while Rs 3 lakh are unmarketable. A locker holder, on the condition of anonymity, said that the bank told him on phone to come and check his locker.

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On reaching the branch, we found out that in one of the lockers, notes worth Rs 5 lakh had been eaten away by termites and boxes of expensive jewelery had also been eaten away by termites.

However, the branch manager admitted that there was dampness in the wall of the bank, which might have led to the spread of termites, but no other locker was affected.

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What are the guidelines of RBI?

The branch manager of the bank said that action is being taken as per the guidelines of RBI. The bank gives the locker to the holder along with a contract, which charges Rs 2 to 12 thousand depending on the size of the locker.

In such a situation, the responsibility of security of the goods kept in the locker lies with the bank management. Important documents, property papers, precious jewelery and other items can be kept in it, but as per RBI guidelines, notes cannot be kept. If a person keeps cash in a bank locker and there is any loss, the bank will not compensate for it. Overall, this money will no longer be available to the person concerned.

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