Going by past decided cases before the National Consumer Commission and High Courts, the Top Court Noticed that the Banks often took the line of defence that they were not liable as they were not aware of the contents of Lockers.
Banks offering locker and safe deposit facilities owe a Duty of care to customers operating the Lockers and are liable for its safety, the Supreme Court held in a significant decision passed on Friday. “The Banks cannot wash off their hands and claim that they bear no Liability towards their Customers for the operation of the Locker….this will lead to a State of anarchy wherein the Banks will routinely commit lapses in proper management of the Lockers, leaving it to the hapless customers to bear the costs,” the Bench observed. Such actions of the Banks would not only be violation of the Consumer Protection Act but also damage investor confidence and harm reputation of our emerging Economy, the judges added.