Lost your bank safety deposit key? Your locker contents may not be secure . . .

No ID checks to access bank safety locker a Axis Bank in Pune!

Lost your Indian bank locker key? Chances are that the person who finds your locker key may be able to access your locker, surprised! I was, read on . . . After reading of some bank locker theft articles appearing in the Indian news media, I had decided to make it a point to checkout my bank locker at Axis bank Kondwa branch in Pune during my next visit to India. So when I landed in India on September 13, 2012, I made it a point to visit my bank the next day to check my safety deposit box and found a few surprises! The contents were all safe! However the ease of getting access to my locker surprised me.  Here's how it went: I approached the appropriate desk clerk that handles entry to safety deposit boxes by customers and told her that I wanted to go to my locker. She pushed a book with an entry form page open, in front of me and told me to fill in my locker number, name and signature I told her I did not remember my locker number She asked me for locker key number I took the key out and read out the three digit number that was stamped on the key She cross checked the key number on her computer and read out the name shown on the computer screen and asked me if this was my name. I answered in the affirmative She told me that my locker number was *** and asked me to fill in the locker number, name and sign in the entry book page. I filled in the locker number the bank clerk told me, the name she told me was associated with the locker (which was indeed mine) and signed the entry page. She accompanied me and with her keys and allowed me access to the locker. What surprised me was that she did not bother to seek any sort of identification, check my passport or any other document to confirm whether I was indeed the person who I claimed to be.  Since I had the key! She assumed everything was legit. When leaving the bank I spoke the branch bank manager and pointed out the laxity in allowing access to safety deposit lockers when so many thefts from bank lockers are reported in the Indian news media periodically. He said he was surprised! Imagine my surprise when I visited the locker six weeks later, a day before my flight to Seattle. This time my wife accompanied me, I stayed in the back and she also was able to get the locker number by giving the key number, no ID was asked for. If you have a bank locker at the Axis Bank in Pune in their Kondwa branch, then make sure you don't lose your locker key! A large number of NRIs have accounts at this Axis bank branch as many foreigners live in and around the area. Nri's normally are away for extended amounts of time and don't visit their Indian bank branches quite often for extended periods of time. One would think that the banks would at least exercise some sort of caution to protect their NRI customers. While I have banked at this Axis bank branch for quite some time and their customer service was quite good a few years back, sadly their customer service seems to be deteriorating, maybe as employees move or due to lack of sufficient staff to handle the large volume of customers that this branch may have. Perhaps on my next trip, it may be time to move to a different bank. The Reserve Bank of India guidelines when it comes to safety deposit lockers clearly states that Banks should exercise due care and necessary precaution for the protection of the lockers provided to the customer. Hopefully some banks do try and follow the RBI guidelines.

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Do banks in India insure safety deposit boxes?

40 Punjab & Sind Bank lockers in

Jalandhar robbed!

According to news reports* forty bank lockers of the Punjab & Sind bank in Jalandhar were broken into and their contents emptied.  Robbers apparently used gas cutters to break the banks main gate and the door to the locker area. Apparently the bank had no alarm or camera system installed. 
(*Source: Hindustan Times dated January 19, 2013)
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Disclaimer: Information provided is for general knowledge only and should not be deemed to be professional advice. For professional advice kindly consult a professional accountant, immigration advisor or the Indian consulate. Rules and regulations do change from time to time. Please note that in case of any variation between what has been stated on this website and the relevant Act, Rules, Regulations, Policy Statements etc. the latter shall prevail. © Copyright 2006 Nriinformation.com Sv248
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Lost your bank safety deposit key?

Your locker contents may not be

secure . . .

No ID checks to access bank safety locker a

Axis Bank in Pune!

Lost your Indian bank locker key? Chances are that the person who finds your locker key may be able to access your locker, surprised! I was, read on. After reading of some bank locker theft articles appearing in the Indian news media, I had decided to make it a point to checkout my bank locker at Axis bank Kondwa branch in Pune during my next visit to India. So when I landed in India on September 13, 2012, I made it a point to visit my bank the next day to check my safety deposit box and found a few surprises! The contents were all safe! However the ease of getting access to my locker surprised me.  Here's how it went: I approached the appropriate desk clerk that handles entry to safety deposit boxes by customers and told her that I wanted to go to my locker. She pushed a book with an entry form page open, in front of me and told me to fill in my locker number, name and signature I told her I did not remember my locker number She asked me for locker key number I took the key out and read out the three digit number that was stamped on the key She cross checked the key number on her computer and read out the name shown on the computer screen and asked me if this was my name. I answered in the affirmative She told me that my locker number was *** and asked me to fill in the locker number, name and sign in the entry book page. I filled in the locker number the bank clerk told me, the name she told me was associated with the locker (which was indeed mine) and signed the entry page. She accompanied me and with her keys and allowed me access to the locker. What surprised me was that she did not bother to seek any sort of identification, check my passport or any other document to confirm whether I was indeed the person who I claimed to be.  Since I had the key! She assumed everything was legit. When leaving the bank I spoke the branch bank manager and pointed out the laxity in allowing access to safety deposit lockers when so many thefts from bank lockers are reported in the Indian news media periodically. He said he was surprised! Imagine my surprise when I visited the locker six weeks later, a day before my flight to Seattle. This time my wife accompanied me, I stayed in the back and she also was able to get the locker number by giving the key number, no ID was asked for. If you have a bank locker at the Axis Bank in Pune in their Khondwa branch, then make sure you don't lose your locker key! A large number of NRIs have accounts at this Axis bank branch as many foreigners live in and around the area. Nri's normally are away for extended amounts of time and don't visit their Indian bank branches quite often for extended periods of time. One would think that the banks would at least exercise some sort of caution to protect their NRI customers. While I have banked at this Axis bank branch for quite some time and their customer service was quite good a few years back, sadly their customer service seems to be deteriorating, maybe as employees move or due to lack of sufficient staff to handle the large volume of customers that this branch may have. Perhaps on my next trip, it may be time to move to a different bank. The Reserve Bank of India guidelines when it comes to safety deposit lockers clearly states that Banks should exercise due care and necessary precaution for the protection of the lockers provided to the customer. Hopefully some banks do try and follow the RBI guidelines.

Respond to this article

Anyone who wishes to respond to this article is welcome to do so. Their response will be published on this page. If responding kindly include your contact name and telephone number. Anonymous responses will not be published.

40 Punjab & Sind Bank lockers in

Jalandhar robbed!

According to news reports* forty bank lockers of the Punjab & Sind bank in Jalandhar were broken into and their contents emptied.  Robbers apparently used gas cutters to break the banks main gate and the door to the locker area. Apparently the bank had no alarm or camera system installed. 
(*Source: Hindustan Times dated January 19, 2013)
Disclaimer: Information provided is for general knowledge only and should not be deemed to be professional advice. For professional advice kindly consult a professional accountant, immigration advisor or the Indian consulate. Rules and regulations do change from time to time. Please note that in case of any variation between what has been stated on this website and the relevant Act, Rules, Regulations, Policy Statements etc. the latter shall prevail. © Copyright 2006 Nriinformation.com
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