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K P BRl
July 20, 2012
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would you mind to expalin about Bankers Blanket Policy please.

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MIC Staff

July 20, 2012 : Answered in 1 Hour

Bankers Blanket indemnity policy is meant to protect bankers against loss:

  • Of money or securities belonging or held in the bank premises by fire, riot and strike, burglary and housebreaking, theft robbery or hold up
  • In transit (financial Instruments and money being misappropriated by negligence or fraud of employees)
  • By forging or alteration (by way of bogus financial instruments being used for collecting payments)
  • By dishonesty (of employees resulting in pecuniary loss)
  • Of hypothecated goods under the bank’s control as a result of fraud and dishonesty of your employees
  • By robbery theft while in direct transit

 

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