Bank locker theft news: 40 cases reported in PSBs in 5 years – check state-wise, bank-wise data

Bank locker theft who is liable

The finance minister further said that as per the extant guidelines, banks are liable for loss of locker contents arising from incidents such as fire, theft, burglary, dacoity, robbery, building collapse or employee fraud, where such loss is attributable to the bank’s negligence or deficiency.

“In such cases, the liability of banks is capped at an amount equivalent to one hundred times the prevailing annual locker rent,” she said.

Bank locker theft insurance

Sitharaman added that banks have been advised to put in place Board-approved insurance policies to mitigate losses arising from contingencies affecting locker contents. “Banks are required to ensure that locker premises are adequately secured against criminal break-ins as well as natural and man-made hazards, in accordance with prescribed standards.

As informed by PSBs, locker units are housed in strong rooms or safes conforming to Bureau of Indian Standards specifications. Branches are equipped with CCTV surveillance, burglar alarm systems, fire alarm systems and appropriate physical security arrangements, which are subject to periodic audit,” the Union Minister said.

Public Sector Bank locker theft cases in India: Check bank-wise data

Public Sector Bank locker theft cases in India: Check year-wise data