Reportedly, the banks are being probed by the Competition Commission of India for alleged profit making in the locker services.
“There were no specific circular asking banks to compensate customers for theft of articles from bank lockers,” said Union Finance Minister Arun Jaitley, in a written reply to Rajya Sabha.
“Banks have been advised by the RBI that it would be their responsibility to ensure the lockers remain safe and there is no negligence that could render them liable to claims by locker-holders,” Jaitley said.
An RTI reply filled in June quoted that the RBI and 19 PSU banks had replied that they were not liable for any damage to the lockers’ contents, including those caused by fire or natural calamities.
“The case has been registered… arraigning 20 banks, including RBI, as opposite parties,” Jaitley said