Anger over termites' penchant for cash

Termites at an Indian bank are a lot fuller and richer after eating their way through banknotes worth millions of rupees.

Bank staff have been blamed for allowing the insects to chew through an estimated 10 million rupees ($208,000) stored in a strongroom.

The State Bank of India said an inquiry into the incident found that staff had been lax.

"The branch management has been found guilty of laxity due to which the notes were damaged by termites," State Bank of India chief general manager Abhay Singh told the Press Trust of India.

"Action will be taken against those responsible in the matter.

"As it was the bank's fault, it will bear the loss caused due to termites.

"There will be no loss to the public."

Ms Singh said identity numbers on many of the banknotes were still intact and could be replaced.

It is not the first time that termites have shown a destructive penchant for rupees.

In 2008, trader Dwarika Prasad lost his life savings after the insects infested his bank's safe deposit boxes, according to BBC News.

"Mr Prasad deposited currency notes and investment papers worth hundreds of thousands of rupees in a bank safe in the state capital Patna," the BBC said.

"The bank said at the time that it had put up a notice warning customers of the termites."

Following the latest incident, staff had been ordered to check the condition of banknotes stored in strongrooms every two months.

According to reports, the branch at fault was old and rarely cleaned properly. It was known to be a haven for termites.

"It was earlier brought to the notice of the management that termites were damaging files and furniture. Efforts are on to relocate the bank at some other place," Ms Singh said. 

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