Rs1.8 million worth cash 'eaten by termites' in India bank locker

The woman had also reportedly stored some jewellery along with the cash


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Published: Fri 29 Sep 2023, 5:56 PM

A woman from the north Indian state of Uttar Pradesh incurred a loss of around Rs1.8 million (Dh79,616) after the cash she kept in a bank locker was “eaten by termites”.

She had saved the money for her daughter’s wedding and is now seeking compensation from the bank, according to media reports.

Alka Pathak, who resides in Moradabad, Uttar Pradesh, had stored the Rs1.8 million in cash in a locker at the Ashiana branch of Bank of Baroda in October 2022. Pathak had planned to use the savings for her daughter’s marriage but was shocked when she opened the locker a year later, reported a local news outlet.

She was called to the bank for the renewal of the locker agreement and for Know Your Customer (KYC) verification. When Pathak opened her locker to check the cash, she found that the notes had been completely damaged by termites, the report said.

According to another media report, the woman had also stored some jewellery with the cash. After learning about her loss, she reported the matter to the branch manager of the bank and an investigation was launched into the incident.

Pathak said she had no idea that she could suffer such loss despite keeping the money in the bank locker.

Vishal Dixit, Lead District Manager of Bank of Baroda, confirmed that termites had eaten cash kept in the bank locker. “I got information that cash kept in the bank locker was eaten away by termites. The bank is carrying out an investigation into the reason behind the incident,” he told news agency ANI.

According to rules stated by the Bank of Baroda, “Bank lockers are only meant to be used for legal reasons, such as keeping valuables like jewellery and important papers safe. They are not meant to be used to keep money or cash."


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