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PUNAM   30 March 2023

Missing gold ornaments in gold loan by nationalized bank

My gold ornament was missed by one of the nationalized bank worth of rupees 3 lac. Two years back I was submitted the gold in bank for gold loan. I was paid all the EMI on regular basis and now after 2 years they told me that it was missing.  Now bank told me that your gold was theft by one of the contract staff. 
please give me solution.


 7 Replies

T. Kalaiselvan, Advocate (Advocate)     31 March 2023

Note the RBI guidelines in the year 2017 on how safe the gold yo placed in the locker is. According to which, "In case of no accident, the banks should compensate the customers for the valuables in the locker."

Siddhi   31 March 2023

You had pledged the ornaments for loan and will have all documents in possesion.

Bank can't wash of hands saying it's stolen. It's banks job to secure all gold with them.

Do you have all communication in writing. If so lodge police complaint and also make complaint to Banking Ombudsman. Act fast.

Advocate Bhartesh goyal (advocate)     31 March 2023

File complaint before District Consumer Commission for deficiency in services against bank anf claim price of pledged gold alongwith compensation towards mental anf physical agony.

1 Like

Dr J C Vashista (Advocate)     31 March 2023

It is the responsibility / liability of the Bank to return / compensate the pledged goods (gold in this case).

However, prima facie it is an unbelievable story where the gold is stated to have been stolen from safe of Bank.

1 Like

PUNAM   31 March 2023

Yes  is impossible  but it actually  happened   in my case and my gold ornaments is not only  gold it's mangalsutra of my marriage. I am so emotionally  attached with that.

T. Kalaiselvan, Advocate (Advocate)     31 March 2023

Law will be concerned only with your relief as per the provisions of law and it will not go behind your issues of sentimental attachment to the lost property.

If you consider that the mangalsutra as sentimental, then you should have actually worn on your neck and not keeping it elsewhere.

The importance of mangalsutra is to identify the woman in the society as a  married woman, hence if you had kept it in the locker there is neither a question of sentimental  importance attached to it nor the purpose of wearing the manglasutra at the time of marriage has not been solved. 

So you may decide whether to pursue the matter legally, if yes, you may follow the suggestions rendrered here or can consult a local lawyer and proceed as suggested.

Sudhir Kumar, Advocate (Advocate)     02 April 2023

 you can jointly sue th bank and the official who stole the gold.

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