This Indian Farmer Lost His Life Savings To A Termite Infestation

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This Indian Farmer Lost His Life Savings To A Termite Infestation

It has been reported by an Indian news network that a pig farmer has lost his life savings after a termite infestation ate through it. The news agency reported that 37-year-old Bijili Jamalayya, from the Indian town of Mylavaram in Krishna district of the Indian state of Andhra Pradesh, lost as much as 5 lakh or $309,000 US.

1 lakh is an Indian unit of currency worth around 100,000 rupees, or $61,000 US.

Jamalayya had kept the cash in a metal box for years with the long-term goal of building a new home on his own land. It was when he opened the box in order to take out 1 lakh ($61, 800) for a new business venture that he realised the catastrophe that had befallen him.

The story came to public attention after police were called to his residence when bystanders saw his children playing with the destroyed bank-notes in the street. It is unclear as of yet quite how much of the cash could be saved, but from the images released, it does not appear to be a significant amount.

A majority of Indian citizens, like most people in developing countries, do not have access to bank-accounts. This is often due to the costs involved and due to the fact that these economies run largely on cash payments as oppose to debit payments. Savings accounts are also fairly rare as most people spend their entire weekly or monthly incomes on necessities and have anything left over to save. While Jamalayya certainly seemed wealthy enough to have a savings account, many people in India also do not trust financial institutions and fear that they may lose their savings if they are stored in banks.

220 species of termites live in India and are a major problem that costs individuals and the government billions of dollars in damage each and every year. Termites eat through wooden structures and even the wood used for flooring in more modern buildings. This is extremely dangerous as it undermines the strength of the structure and, in the long-run, can even result in buildings collapsing and harm to those inside. For this very reason, people and organisations are continually warned to keep an eye out for the little creatures.

[I heart Intelligence]

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Thinking Humanity: This Indian Farmer Lost His Life Savings To A Termite Infestation
This Indian Farmer Lost His Life Savings To A Termite Infestation
It has been reported by an Indian news network that a pig farmer has lost his life savings after a termite infestation ate through it. The news agency
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Thinking Humanity
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