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. This bitter truth was disclosed in an RTI response by the Reserve Bank of India (RBI) and 19 PSU banks. Stung by the revelation, the lawyer who had sought information under the transparency law has now moved the Competition Commission of India (CCI) alleging “cartelisation“ and “anticompetitive practices“ by the banks in respect of the locker service.
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. This bitter truth was disclosed in an RTI response by the Reserve Bank of India (RBI) and 19 PSU banks. Stung by the revelation, the lawyer who had sought information under the transparency law has now moved the Competition Commission of India (CCI) alleging “cartelisation“ and “anticompetitive practices“ by the banks in respect of the locker service.
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