PSU banks not liable in case of loss of valuables in lockers.

As per RTI, RBI has responded that PSU banks are not liable in case of loss of valuables in locker. Some banks, in their locker hiring agreement mention that any item stored in the locker is at customer’s own risk & they may in their interest insure their valuables. Some lawyers say that it is better to keep valuables at home & take home insurance.

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