The RBI and 19 banks, in an RTI reply in June, mentioned that they were not liable for any damage to the lockers’ contents, including those caused by fire or natural calamities. The CCI received the complaint in May alleging cartelisation in locker services. “The case has been registered arraigning 20 banks, including RBI, as opposite parties,” Jaitley said.
“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,” he added.
Besides, banks are being probed by the Competition Commission of India for alleged cartelisation in locker services. In a written reply to the Rajya Sabha, finance minister Arun Jaitley said there is not any specific circular asking bank to compensate customers for theft of articles from bank lockers.