Ditch that bank locker, it is unsafe; go for home safes, insurance instead
7 years, 9 months ago

Ditch that bank locker, it is unsafe; go for home safes, insurance instead

Firstpost  

The Britishers, from whom we inherited these, have almost done away from such safe deposit lockers from their banks; it’s time for Indians to ditch them too An RTI query by a lawyer has revealed something really shocking for many Indians: Banks will not compensate for loss of your valuables kept in their lockers. It’s a well-known fact that most banks insist customers to open a fixed deposit with them to rent a safe deposit locker. One upon a time, getting safe deposit lockers was a valid choice as banks were more guarded than homes. With banks not willing to take the responsibility for theft of the content of your bank lockers, maybe it’s time to ditch them and find a safer place – your home.

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History of this topic

Security breach at Lko’s Bank: “If bank lockers aren’t safe, where can we go,” locker holders
3 months, 1 week ago

Security breach at Lko’s Bank: “If bank lockers aren’t safe, where can we go,” locker holders

Hindustan Times  

“If even bank lockers aren’t safe, where can we go?” questioned Ankit Asthana, a victim of the shocking heist at the Chinhat branch of Indian Overseas Bank. The incident has not only stripped locker holders of their precious belongings but also eroded trust in the bank’s ability to provide security. Despite paying ₹2,400 annually for the locker, the bank’s security …

What can be kept in bank locker and what can't? All you need to know
4 months, 1 week ago

What can be kept in bank locker and what can't? All you need to know

India TV News  

Banks are always regarded as the safest place for financial transactions - be it fixed deposits, financial transactions or bank lockers. The bank provides a locker agreement, usually refundable, that both parties must sign. However, there are a few rules of what can be kept and what not in the locker What can be stored in bank lockers? For protection, …

Bank locker rules 2024: What you can and cannot store in SBI, HDFC, Bank of Baroda, and ICICI Bank lockers
4 months, 1 week ago

Bank locker rules 2024: What you can and cannot store in SBI, HDFC, Bank of Baroda, and ICICI Bank lockers

Live Mint  

Bank lockers provide a safe and secure way to store valuable items. Items that cannot be stored in bank locker: Common restrictions across all banks Possessing weapons, explosives, drugs, or any other type of contraband is strictly forbidden. Here's a breakdown of what can and cannot be stored in a bank locker SBI locker agreement Only for legitimate purposes such …

Should you get a bank locker as RBI standardises bank locker rules?
3 years, 6 months ago

Should you get a bank locker as RBI standardises bank locker rules?

Live Mint  

The Reserve Bank of India on August 18 issued revised instructions on safe deposit locker and safe custody article facility provided by banks. Now, let's take a look at RBI's new guidelines for bank lockers Locker Rent Banks may face potential situations where the locker-hirer neither operates the locker nor pays the rent. Compensation Policy / Liability for Banks The …

Banks need safer locker systems
17 years, 1 month ago

Banks need safer locker systems

Hindustan Times  

Given the apathy shown by most Indian banks towards safety and security, bank robberies are not very rare these days. HT Image Similarly, in Ludhiana, following a robbery at a branch of Oriental Bank in September last year, the police had undertaken a survey on bank security and found that most banks there did not have functional alarms, CCTVs or …

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