https://www.taxtmi.com/caselaws?id=306109 The Supreme Court concluded that disputes regarding locker contents should be adjudicated by civil courts, not consumer fora, due to the need for detailed evidence. Banks have a separate duty of care in managing lockers, including maintaining security and following proper procedures. In a specific case, the bank's negligence in breaking open a locker without notice led to compensation of Rs. 5,00,000 to be paid by the bank, with additional litigation expenses of Rs. 1,00,000. The Court emphasized the importance of uniform regulations for locker management and directed the RBI to issue appropriate rules within six months. en-us Fri, 19 Feb 2021 00:00:00 +0530 Tue, 10 Jan 2023 21:17:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306109 The Supreme Court concluded that disputes regarding locker contents should be adjudicated by civil courts, not consumer fora, due to the need for detailed evidence. Banks have a separate duty of care in managing lockers, including maintaining security and following proper procedures. In a specific case, the bank's negligence in breaking open a locker without notice led to compensation of Rs. 5,00,000 to be paid by the bank, with additional litigation expenses of Rs. 1,00,000. The Court emphasized the importance of uniform regulations for locker management and directed the RBI to issue appropriate rules within six months. Case-Laws Indian Laws Fri, 19 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306109