You are wrong and the bank is right. When you keep your items in the bank lockers, the bank is not aware of the things you kept. The locker key(only one key ) is available with the bank and another key with the owner of the locker. There is no duplicate key available with the bank. The locker cannot be opened singly by the bank or the owner. It has to be opened in the presence of the bank official and the owner. So, there is no question of foul play and there is no chance for loss . All will be well. In the event of any bank robbery by breaking the lockers or of any damage to the bank due to natural calamity, the bank is not responsible. Someone would claim for more compensation. The bank instructions are very clear in this aspect.
The gold ornaments accepted by the bank to provide loan would have the value recorded, and the bank will provide the compensation in the event of loss or theft
The bank is right and you are wrong Mr. Mohan. I suggest the public to buy an extra strong unbreakable/unmovable/steel locker and store their jewels and cash in it to ensure safe custody. Else they should construct a secret place to store their costly/valuable items.
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Even this challenging situation would ease
Bank lockers provide more security to your undisclosed items. They provide safety and security to the items you stored in the lockers. They charge you only for guarding the lockers. Bank lockers are not easily accessible. Items cannot be stolen easily. Even the lockers are fire proof. We not only keep jewels, but also valid documents in the locker. We use bank lockers by paying very little rent.
It is upto the individual whether to use a bank locker or not. The bank will never compel us to use their bank lockers assuring safety and security in the event of theft or damage to the locker.
The bank is right, and Mohan is wrong. Please don't compare bank account with bank lockers.
No life without Sun
When bank gives a locker on hire to an account holder, it is just like giving a house on rent. The hirer uses the space for his purpose. The owner does not know what is kept inside and is not responsible for that. The hirer has t give back the locker in the same way after terminating the hire. The hirer should not keep anything inside that will damage the lockers or disrupt use of other lockers.
Generally a locker can be opened only with simultaneous operation by the hirer and bank. That is one safety apart from the strong room. But the locker can be locked by the hirer's key alone. Lockers also have facility to add a padlock by the hirer for additional safety.
Till now thousands of hirers have use bank lockers. The incidents of locker theft is just a few. Those things happened beyond the control of banks also. One reported case was of an uncommon loot by entering the strong room drilling the ceiling from ground floor to the first floor bank. Gas cutters and such things were used in that. No one could doubt anything as the ground floor was a hotel closed for renovation activities. Not just the lockers but the bank's cash vault also were looted in that.
But such cases are rare or rarest. That was probabaly the first such incident.