How safe is your cash in banks? Termites eat Rs 18 lakh cash in bank locker
First Published: 28th September, 2023 21:59 IST
As per the latest rules of the Reserve Bank of India, it prohibits the storage of any cash in bank lockers
We all think our cash is safe in banks and bank lockers. We just hope and pray that our banks don’t get robbed. But have you ever thought about termites. Beware of termites as they may cost you lakhs.
In a bizarre incident, a woman from Uttar Pradesh lost cash worth Rs 18 lakh after termites ate all her savings, which she had deposited in a bank locker.
Alka Pathak, a resident of Moradabad, had deposited cash worth Rs 18 lakhs in her locker at the Bank of Baroda’s Ashiana branch, which she had saved for her daughter’s wedding.
Recently, bank employees contacted her to visit the bank to renew the locker agreement and update her ‘Know You Customer’ details.
However, when she opened her locker, much to her surprise, all the money that she had saved for her daughter was turned to dust in a termite attack.
This incident also shocked the bank officials.
According to bank staff, they had sent a report to the Bank of Baroda headquarters.
But Ms. Pathak, devastated by the hefty loss, has now accused the bank officials of not sharing any information with her.
As per the latest rules of the Reserve Bank of India, it prohibits the storage of any cash in bank lockers.
The Bank of Baroda locker agreement states, “The license to use the Locker hereby granted is only for legitimate purposes such as storing of valuables like jewellery and documents but not for storing any cash or currency”.
The bank’s website states that it will be responsible for any loss of locker contents “caused by theft, burglary, or robbery”. “The bank shall be liable to pay you 100 times the prevailing safe deposit locker annual rent. This compensation also applies in case of fire, building collapse, or fraud,” it states.
Also Read: Woman from NE assaulted in Gujarat, video goes viral
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