Mumbai, November 2025:
In a shocking incident that raises serious questions about banking accountability, a Mumbai resident has accused the Punjab & Sind Bank, Bhandup branch, of illegally deducting locker charges from an unrelated joint account—an action that directly violates the Reserve Bank of India (RBI)’s Master Direction on Safe Deposit Lockers.
The customer, Arvinder Kaur Gujral, alleges that the bank debited locker rent dues belonging to a locker held solely by her father-in-law and mother-in-law, while the deduction was made from a joint account held by her and her mother-in-law, a completely separate contract with no legal or financial linkage to the locker.
What makes the case even more alarming is the bank manager’s alleged statement during a meeting with the customer.
“We do not follow RBI rules. We work with our own norms.”
— Bank Manager, Punjab & Sind Bank, Bhandup Branch (as claimed by the customer)
Such a statement, if true, raises concerns of wilful non-compliance, disregard for regulatory frameworks, and institutional negligence.
8–9 Years of No Communication, No Notices, No Compliance
According to the customer, the bank:
- Failed to issue any notice for nearly nine years
- Did not follow RBI’s mandatory three-year rule for locker rent recovery
- Did not seal the locker despite long-term dues
- Provided no agreement copy, no rent statement, and no record of communication
- Deducted money from a joint account not party to the locker agreement
RBI guidelines clearly state that locker rent defaults must be followed by:
- Written notices
- Mandatory communication
- Sealing after 3 years of default
- Due process before recovery
None of these procedures were followed, the customer claims.
Customer’s Written Complaint Ignored for a Week
Despite submitting a formal written complaint last Saturday, the customer says the Punjab & Sind Bank Bhandup branch has not issued a single response, neither verbal nor written.
The customer states:
“I made a humble appeal to the bank to return the money and resolve the matter amicably. It has been a week now, and the bank has not even acknowledged my complaint.”
This lack of response further strengthens allegations of negligence, misconduct, and procedural violation. Under RBI’s Integrated Ombudsman Scheme, banks are mandated to:
- Acknowledge complaints promptly
- Provide a resolution or written reply
- Maintain a functioning grievance redressal system
The branch’s failure to respond for seven days, despite the seriousness of the allegation, raises concerns of deliberate delay, poor governance, and possible attempts to suppress accountability.
Complaint System Not Working — Customer Left With No Bank-Level Redressal
Punjab & Sind Bank’s grievance portal was reportedly non-functional, blocking escalation to higher authorities.
The customer filed a physical complaint, but no response came from the branch.
Left without options, the customer has escalated the case to:
- Reserve Bank of India (CRPC)
- Mumbai Police – Economic Offences Wing
- Enforcement Directorate (ED) for financial irregularity examination
Screenshots of the letter have been shared with the media.
Possible Legal Violations
Legal experts say the bank’s actions may fall under:
- Section 403 IPC – Dishonest Misappropriation of Property
- Sections 405 & 406 IPC – Criminal Breach of Trust
- Section 420 IPC – Cheating
- IT Act Section 66C/66D – Unauthorized Electronic Debit
- RBI Master Direction on Safe Deposit Lockers – Violations
If proven, the case could set a precedent for unilateral debits and arbitrary locker recovery practices by banks.
RBI’s Role Under the Scanner
This incident raises a bigger question:
How many branches continue to operate ignoring RBI rules?
Customers expect regulatory oversight, but when a bank manager allegedly says:
“We don’t follow RBI rules,”
it becomes a matter of national concern.
RBI is expected to take strict suo-motu cognizance of the issue.
Public Trust at Stake
Banks operate on trust, and any violation—especially one involving procedural lapses, decade-long negligence, and unauthorized debits—shakes that foundation.
If such incidents go unchecked, they open the door to widespread misuse of customer accounts.
The Customer’s Appeal to RBI
“I am requesting RBI to intervene immediately. This is not just my fight; it is about protecting every common citizen from arbitrary bank actions,” said Arvinder Kaur.
The customer has also requested that the RBI examine the branch’s overall compliance, including records of locker operations, staff responsibilities, and procedural lapses.
What Happens Next?
With the matter now escalated to:
- RBI CRPC,
- Mumbai Police,
- Enforcement Directorate,
the bank may soon face enquiries from multiple authorities.
As of publication, Punjab & Sind Bank has not issued an official statement.