To,
Hon. Shri . Urjit Patel
RBI Governor of
India
SUB: URGENT NEED OF HOUR TO REFORM BANK LOCKER
POLICY.
R/Sir,
The burglary of Bank Locker at Bank of
Baroda branch Navi Mumbai unearths the loopholes in the bank locker policy. As per Government policy any citizen can avail bank locker
facility anywhere in India. It’s meant for safety of people’s
valuables items from theft or any hazardous incident like fire or natural
calamities. But the incident of BOB put a big question mark over the safety as
the Bank straightway denied the compensation or liability for theft of
valuables from locker. Bank justified that, no record of items are recorded so
on which basis we can be hold liable. Though the banks justification is right,
its need of hour to change the bank locker policy which stands against the
consumer right.
Unfortunately, due to Non-transparent way of
function of locker system it is turning as unfavorable to honest citizens and
favorable to Black money holders. Whenever any politician, employee or person indulge in illegal
activities are raided, it is found that the concern have many numbers of
lockers in different banks flooding with cash, gold and such valuables items.
Such act is easily possible for them due to Non-transparency way i.e. no data
of items which are kept in lockers are recorded. Rather, by virtue of this
current bank lockers are turned as a government protected shelters for black
assets.
Some representative examples for statement
that “bank lockers are turning as Government protecting shelters for black
assets” are of Karnataka
Reddy brothers or suspended Engineer Satish Chikhalikar of PWD Maharashtra
underlines the misuse of Bank Locker Policy . Reddy Brothers had around 200
Lockers and that of Chikhalikar had around 20 to 22 Lockers in different banks
of different cities. Crore’s of Rupees in Cash and valuables in kilo’s found in
their name or relatives lockers. This is none other than one type of Government
protection to illegal-black income.
IMP NOTE : In this regard PETITION On change.org is registered :
you may support this cause by
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The question always remains unanswered
that whether as per RBI rules and regulation to use lockers for Rupees is legal
activity? If not so how
crore’s of Rupees are kept in such lockers. What about black money that is
lying in lockers of those who are using the lockers but till not exposed. One
thing is very much clear that no person will kept the money in lockers if that
is ‘white income’.
Logic behind such act is very
simple and can be understood by a school going students as if same is deposited
in account the concern will earn the interest . On contrary to that, if instead
of interest earning if some one is locking it in lockers, it’s rightly
understood that it’s a Black money. Unfortunately the Government knowingly or
unknowingly providing the protection. By taking into account the mentality of
taking the undue advantage of “current NONTRANSPARENT bank lockers policy” the
concern authority must thought seriously to make it leak proof by reviewing it
deeply.
In current scenario most of the
Nationalized and private banks are providing lockers. The lockers are operated
with two keys one with customer and another with bank official. Both the keys
are useful while opening the locker but it can be locked with customer key
only. By virtue of this operating process, Bank is totally unaware of material
kept in lockers. By virtue of this banks are unable, to decide what
to do, when any thing got wrong with the lockers system. Since bank is not
aware of quantity of valuables what process to follow if any theft, misuse by
bank official or any natural calamities if strong room is damaged is purely
undefined. Such “park at your own risk” like policy is totally
Possible steps for
Remedies :
This is era of transparency,
so RBI should think hardly to bring transparency in bank lockers policy.
1) One
locker policy: By bringing all bank lockers record under one umbrella, “one
customer –one locker policy”need to implement.
2) Need to
make mandatory to furnish all details to bank about valuables kept in lockers.
Some may point out the issue of privacy with such policy. But RBI should remind
them that as the as data recorded will going to remain between locker holder
and Bank, the object of PRIVACY doesn’t get overruled.
3) With
implementation of record of items, RBI can make provision of INSURANCE of ITEMS
kept in locker.
4) Use of
lockers for cash must be treated as an offense. Cash found in raids must
directly treat as national property.
5) RBI must
bring some system that has authority of random check of any locker in India.
Thanking
you.
With
high Regards:
SUDHIR
L. DANI,
9869226272 / danisudhir@gmail.com
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