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So How Safe Are Bank Lockers?


wealthymatters

According to RBI guidelines, banks are not responsible for the contents of the lockers. A bank only needs to provide for protection of the lockers.The relationship between the bank and the locker customer is that of a lessor and a lessee.Since the contents of the locker are never shared with the bank, it is not responsible for the contents.

According to Section 152 of the Indian Contract Act, a bank is not responsible for any loss or damage to the contents of a locker. Even the valuables deposited in lockers are not insured. A bank does not have the ownership or knowledge of the contents of the locker and hence does not have any insurable interest in the matter.

The situation is clearly loaded against the customer . For example, in case of robbery,the customer is not only required to prove that the locker was robbed but also submit evidence of the extent of the loss. Read more of this post

Making A Million Dollars The Easy Way


wealthymatters

Making a million dollars is not as complex as many people believe. Play with the numbers.

Earning $1,000,000 can be:

250,000 people spending $4
100,000 spending $10
50,000 people spending $20
10,000 people spending $100
1,000 people spending $1,000

OR

What if you had a product or service that you charged $83 per month for?  You would only need 1,000 customers to earn $1,000,000 per YEAR. Read more of this post

India Wealth Stats


If you have ever wondered exactly where in the wealth pyramid you are in India and in the world,here are some stats to help you gauge your situation:wealthymatters

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