New Delhi, March 30 -- Union Finance Minister Nirmala Sitharaman on Monday explained why the Reserve Bank of India (RBI) has capped the compensation limit of bank lockers to 100 times the annual locker rent in case of a loss or theft, saying that banking rules do not permit banks to see or record what customers store.

Sitharaman was replying to a supplementary question raised by Congress leader and MP from Gadchiroli-Chimur constituency, Namdeo Dasaram Kirsan, in the Lok Sabha during the Question Hour.

"Sitting and watching the disclosure of a client of what valuables he is going to keep in the locker is a breach of banking rules, and banks wouldn't do that, so that cannot be a measure for me to decide whether there should be differenti...