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Include bank locker in home insurance

Since banks won't compensate customers for loss of goods in locker, onus is on you to safeguard them

Tinesh Bhasin  |  Mumbai 

Finance Minister Arun Jaitley recently informed the Rajya Sabha that banks are not liable to compensate customers, in case goods in the lockers are lost due to theft burglary or a natural calamity. At the same time, Minister of State for Finance Santosh Kumar Gangwar said that nearly Rs 180 crore was lost in 2,632 cases of robbery, theft, dacoity and burglaries at 51 banks in the past three years (2014-15 to 2016-17). “As banks don’t ask you for contents of the locker, they are not responsible for its loss. The relationship between the two is like landlord and tenant. ...

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First Published: Thu, August 17 2017. 00:21 IST
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