Bank Locker Gold Missing? Know Your Rights & RBI Rules on Compensation

• A recent incident at PNB Kirti Nagar, Delhi, where a woman claimed gold missing from her locker, sparked concerns about bank locker safety.
• Banks technically only rent safe space; they don't know locker contents and are not 100% responsible for items inside.
• RBI's new rules (2022, 2025-26) state banks are liable for compensation only if their negligence (employee fraud, security flaws, fire, robbery) is proven.
• Compensation is limited to 100 times the annual locker rent; for example, Rs 4 lakh for a Rs 4,000 annual rent, regardless of item value.
• Banks are not liable for losses due to natural disasters like earthquakes or floods; customers bear the full loss in such cases. Insure valuables, keep records, and read agreements carefully.