Bank Locker – Theft – Liability of the Bank
The Complainant had Locker with the Bank. The rent of the said locker was paid regularly by the respondent.
On 28.9.2015, there was theft of ornaments of the complainant from the said locker. The complainant filed the complaint for loss of ornaments.
The Bank denied the claim on the ground of “no negligence” on its part.
The District Forum allowed the complaint ex parte. The appeal of the Bank was dismissed by the State Commission.
HELD that the customer is completely at the mercy of the Bank which is the more resourceful party for the protection of their assets. In such a situation the banks cannot wash off their hands and claim that they bear no liability towards their customers for the operation of the locker.
The very purpose for which the customer avails of the locker hiring facility is so that they may rest assured that their assets are being properly taken care of. Such actions of the banks would not only violate the relevant provisions of the Consumer Protection Act but also damage 40 investor confidence and harm our reputation as an emerging economy.
RBI in its Circular dated 18.4.2021 laid down guidelines and clause 7.2 provided for liability of banks arising from events like fire, theft, burglary, robbery, building collapse or in case of fraud committed by the employees of the Bank. It is provided that the liability of the Bank shall be for an amount equivalent to one hundred times the prevailing annual rent of the safe deposit locker.
Order dated 20.5.2024 of the National Consumer Disputes Redressal Commission in Revision Petition No.1865 of 2022 of the Central Bank of India Vs. Abhay Kumar Jain
