Centralization of Safe Deposit Lockers (Time and Motion Study & Cost-Benefit of Locker House)

Abstract

The drain on the Revenues of Commercial Banks resulting from the present below-Cost Pricing of Safe Deposit Locker Service is enormous. The Banks are losing around %10 lakhs per year for every 500 Cabinets in Metros, Cities and Urban Areas. The Consequences of the Faulty Pricing of Lockers seem more alarming when it is realised that the benefit goes to the Section of the Society which, being relatively more affluent, does not deserve it. The way to overcome this problem is Centralization of Safe Deposit Lockers by the Commercial Banks instead of Safe Deposits Lockers provided at each and every Branch of the Commercial Banks.

This ‘Research Article’ is based on ‘Time and Motion Study’ of Safe Deposit Lockers of Banks and also Cost-Benefit-Analysis of Safe Deposit Lockers of Banks. Centralization of Safe Deposit Lockers is a Good Strategy to the Commercial Banks to increase revenue on Locker Product instead of the present system of providing Lockers at each and every Branch.