New Delhi: Finance Minister Nirmala Sitharaman said that banks in India cannot see or keep a record of what customers store in their lockers.
She gave this reply in Parliament after a question by MP Namdev Kirsan. She clearly said that checking locker items is against customer privacy and rules.
What she said
Banks cannot ask what is inside your locker
Banks cannot open or check lockers without legal permission
Keeping a list of items is not allowed
Important point
Bank lockers are only for safe storage. The bank gives security like locks and safety systems, but does not know what is inside.
About insurance
The minister also said that banks cannot give insurance based on locker items, because they do not know what customers keep inside.
What customers should do
Keep proof (bills or photos) of valuable items
Add a nominee for safety
Take separate insurance for costly jewellery or items
Simple conclusion
Your bank locker is private. The bank can protect it, but cannot check or track your valuables.
