What would happen in case of the theft from your bank locker?
Nowadays there is a huge waitlist to get a bank locker and by any chance if you get a locker and if theft happens then banks do not take any responsibilities.
But not any more as RBI has introduced new rule for bank lockers.
Banks would have to keep recording CCTV for the last 180 days and in case of theft would have to provide it to police for investigation.
Also you would get an insurance claim of up to 100 times of the yearly locker fees. so in case your locker yearly charge is 2000 INR then you would be eligible for claim up to 2 lakh rupees.
Also now banks can not collect advance locker fees for more than 3 years.
But according to me the best way to protect and invest in gold is via sovereign gold bond (SGB).
Do you have an SGB or Bank Locker?
#banklocker #shorts #bank #rbi #insurance #theft #protection
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About Channel –
“Finanster” is a channel where you can get finance and investment related knowledge with ease.
In our country where financial awareness and financial literacy is very low, with this channel it would be my way to shout out loud the concept of the finance world to make everyone aware of the need for financial literacy.
“Finanster” aims to make all the viewers understand the value of investing, rational thinking process and behavioural finance.
Let’s begin to be better rational investors.
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