UP Woman Loses Rs 18 Lakh Cash Saved In Bank Locker To Termites

In a tragic incident in Uttar Pradesh, a woman lost cash worth Rs. 18 lakhs, which she had saved for her daughter’s wedding, due to termites in a bank locker.

The woman, identified as Alka Pathak, a resident of Moradabad, had kept Rs. 18 lakh of cash in her locker in October 2022 at the Bank of Baroda, Ashiana branch.

Woman Loses Cash To Termites In Bank Locker

Bank employees recently contacted her and asked her to visit the branch to renew the locker agreement and to update her “Know Your Customer” details.

When the woman opened her locker to check if her money and belongings were safe, she was devastated to see the money she had saved for her daughter’s wedding turned into dust after a termite attack at the bank.

The bank employees were also shocked to see the currency notes turn into dust. The matter was immediately reported, and the media pressed the bank officials for an explanation. In response, the bank employees claimed that they had sent a report to the Bank of Baroda headquarters.

The woman, however, alleged that the bank officials didn’t share any information with her. She has stated that she will escalate the issue with the help of the media if she doesn’t receive any support from the bank.

According to the latest rules enforced by the Reserve Bank of India, the storage of cash in bank lockers is prohibited.

The Bank of Baroda locker agreement reads, "The licence to use the locker hereby granted is only for legitimate purposes, such as storing valuables like jewellery and documents, but not for storing any cash or currency".

Further, the bank’s website stated that it would be responsible for any loss of the contents of the locker only in the case of theft, robbery, or burglary. "The bank shall be liable to pay you 100 times the prevailing safe deposit locker annual rent. This compensation also applies in cases of fire, building collapse, or fraud, reads the statement on the bank's website.

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