SC asks RBI to enact a rule for ‘Locker Facility Management’ of banks within 6 months

New Delhi : The Supreme Court on Friday asked the Reserve Bank of India (RBI) to enact a regulation regarding the locker facility management of banks in six months. The apex court said, in case of locker operations, banks cannot run away their responsibility towards customers.

A bench of Justices MM Shantanagoudar and Justice Vineet Saran said, “The role of banking institutions has become very important in the era of globalisation. Banking institutions are now an important part of the lives of ordinary people. There has been a huge increase in domestic or international transactions taking place in the country.”

The bench said, people hesitate to keep their movable properties in their homes. We are moving towards a cashless economy. In such a situation, it is seen that the service of lockers etc. has become mandatory for banking institutions. This service is also used by Indians and foreigners.

“Due to technological development, we are now moving from a two-key locker to an electronic locker,” the bench said. The new type of locker has partial access to customers through passwords or ATM PINs, they have little knowledge about the technology. There is also the possibility that the crook will reach the locker through technical manipulation and the customers do not even get a clue of it.

The bench said, customers are completely dependent on the bank. Banks have more and better resources for securing assets. In such a situation, banks cannot run away from their responsibility and say that they do not have responsibility in operating the bank locker.

The apex court said, the motive of the customers behind taking the locker facility is that they should be relaxed about their capital. In such a situation, it is necessary that the RBI should issue overall instructions that the bank should take steps for locker facility and safe deposit facility management. The bank should not have the freedom to impose unilateral conditions and impose unfair conditions on customers.

Hence, the apex court has directed the RBI to fix appropriate regulation and rules regarding the locker facility within six months.

The court was hearing a petition by Kolkata resident Amitabh Dasgupta challenging the order of the National Consumer Commission. Dasgupta had asked for seven jewellery kept in a government bank locker or demanded a payment of three lakh rupees instead. But after not getting relief from the Consumer Forum, he moved the Supreme Court.