Gold Missing from Bank Locker? Know RBI Rules on Compensation & Bank Liability

• Panic at PNB Kirti Nagar after a woman reported gold missing from her locker, but police found no forced entry.
• Investigation revealed the theft claim was a rumor; the joint locker was recently operated.
• RBI rules state banks are not liable for ordinary theft; liability only for proven negligence (e.g., security flaws, employee fraud).
• Compensation for bank negligence is limited to 100 times the annual locker rent, not the item's value.
• Banks are not liable for losses due to natural disasters; personal insurance is recommended for high-value items.