May

Termites, FTW

Rai

central bank of india, india, prasad, termites

This is an interesting story that I got from news.bbc.co.uk about a man from India who hid his money and some important investment papers in a safe in India’s government-owned bank thinking that his retirement money is safe. Safe from robbers, yes, but not from wood-eating termites.

What used to be moneyDwarika Prasad trusted his money worth 450,000 rupees ($11,000) in cold cash and some investment papers and jewelries in a safe box in Central Bank of India. When he opened the box last January, he found what used to be valuable money, now only perforated papers and termite dust. The valuable items were first deposited last September 2005.

The bad news is yet to come. Central Bank of India claims they are not liable for any loss because of the termites. They said they put up a notice to warn customers about the termite problem and the valuable items stored should be removed. Prasad was not able to receive the notice and was a little too late to get his items from the box.

The bank further claims that since the box has not been broken, Prasad is not entitled to any compensation from the bank.