A bank in India has been found guilty of laxity after Termites were found to have munched their way through thousands of pounds worth of cash in one of the bank's vaults. The branch of the State Bank of India is in Uttar Pradesh in the north of the sub-continent, and is said to be an old building known to be a haven for Termites.
According to a BBC report, it had already been brought to the attention of the management that Termites were making their way through furniture and paperwork. Consequently, the Termites are thought to have eaten through around 10 million rupees in cash, which is the equivalent of about £137,000.
A similar scenario occurred in 2008, when trader Dwarika Prasad lost his life savings from a Termite infestation in his bank. However, unlike the recent case in Utter Pradesh where the bank will have to cover the loses, Dwarika Prasad lost everything as it was his own money and his own fault for allowing it to happen.
Termites are one of the world's most feared insects, not because they bite or sting, but because they are known to cause nearly a million dollars in damage every year. Most commonly found in tropical and savanna regions, and in the southern USA, Termites use chewed wood along with soil and mud in order to build the mounds that they live in.
These mounds can grow up to nine meters tall in some areas, but are usually around a third of the size measuring a few meters in height. However, their need to build their homes has posed a major problem to wooden houses in particular, as structural damage can quickly occur from a Termite infestation. Out of the estimated 4,000 Termite species found around the world, roughly 10% are thought of as pests.