New Delhi, Jan. 23 -- Have you kept your gold jewellery in bank safety lockers? If yes, then you should make a fresh assessment about whether the rent you pay for it alone is adequate to secure your valuables. With gold prices on the rise, the rent that you pay for bank safety lockers will not be sufficient in case of unforeseen losses, as the bank is liable only for up to 100 times the annual rent. Here is a guide on bank safety lockers, the rules governing them, the need for taking a separate insurance for expensive items such as gold and alternative options to secure the yellow metal.

The Reserve Bank of India (RBI) has clearly specified the liability of banks for valuables stored in lockers arising out of unforeseen events such as fi...