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Securing valuables in your bank locker is not an easy task

While banks have security and safety systems in place, you need to insure the valuables to be on the safe side

Topics
Banks  |  Banking  |  Cctv

Tinesh Bhasin  |  Mumbai 

It’s well-known that banks don’t take responsibility if there is a burglary and robbers loot the lockers belonging to customers. In their defence, banks say they don’t know the contents of the locker and are, therefore, not liable.

When an individual takes a locker facility, he is made to sign an agreement that states that the bank will not be responsible for any loss or damage to the contents of the locker, thereby absolving the bank of all liabilities. "The relationship between the two is like landlord and tenant. The landlord is not responsible for theft ...

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First Published: Sun, July 15 2018. 18:23 IST
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