In Uttar Pradesh's Moradabad, a woman's hard-earned savings of Rs 18 lakh, reserved for her daughter's wedding, were devoured by termites while stored in a bank locker. Alka Pathak, a resident of Moradabad, had entrusted the Bank of Baroda's Ashiana branch with her savings in October of the previous year. The cash, intended to fund her daughter's wedding, was stored alongside some jewellery.
Pathak received a request from bank employees, who asked her to visit the branch to update her 'Know Your Customer' details and renew the locker agreement. Complying with the request, she ventured to the bank. Upon opening her locker, Alka Pathak found that the notes she had tenaciously saved for her daughter's wedding had been reduced to dust due to a termite infestation. The incident equally shocked bank officials.
(Image Source: X & NDTV)
According to the reports, bank staff mentioned that they had submitted a report to the Bank of Baroda headquarters regarding the incident. However, Pathak alleges that the bank officials are not providing her with any information regarding the incident.
This incident also raises questions about the Reserve Bank of India's guidelines on locker agreements. Recent regulations introduced by the RBI restrict the storage of cash in bank lockers, emphasising legitimate uses like jewellery and document storage. However, the agreement lacks clear guidance on cases where damage or loss occurs due to unexpected events like termite infestations.
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