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New Delhi: Banks in India cannot see, record or inspect the valuables customers store in bank lockers, Union Finance Minister Nirmala Sitharaman told the Lok Sabha during Question Hour on 30 March 2026. She said this would violate banking regulations and customer privacy, and ruled out the possibility of differential insurance coverage based on the contents of lockers. Under the current framework, standard insurance compensation for locker loss is capped at 100 times the annual locker rent, and ...Read More >
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