- Supreme Court directs to make special provisions for locker operation
- The instruction has been given to the RBI
- Standards in this regard should be prepared within six months
It should be formed within six months as the locker usage is becoming more widespread. If any items kept inside the locker are lost, the bank will be trapped. The court observed that the bank could not absolve itself of this responsibility. The order was passed by a bench comprising Justice Shantana Gounder.
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The court also noted that banks should not impose unjustified conditions on users in connection with locker use. People are unaware of the use of digital lockers and are encouraged to keep valuables in bank lockers.
Ensuring locker security is the sole responsibility of the bank. Under the Consumer Protection Act, banks as service providers are required to ensure the security of deposits. Banks that provide locker facilities should also provide facilities such as ensuring the proper functioning of the locker, preventing unauthorized access to the lockers and providing security against theft and robbery.