RBI :Banks not responsible for lockers

New Delhi, June 26: A shocking news has been revealed recently.
The Reserve Bank of India has said that banks are not liable to pay any compensation when the valuables kept in lockers are lost.The Central Bank clearly said that the regional and national banks make an agreement with customers who deposit items.



The agreement clearly indicates that "we are not responsible for your belongings".The above news was revealed in a response to an RTI filed.After the response, the person who has sought information has approached the Competition Commission of India (CCI). He alleged that banks are following "cartelization" and "anti—competitive practices" in respect of the locker service.

The banks have also shed off their responsibility by saying that the customers will hire our lockers as per terms and conditions and they would sign the agreement so its the customer's responsibility for the safeguard of his belongings. Finally, the lawyer hopes that he will win the case against banks in CCI.