Business Today
Loading...

Andhra trader saves life savings in trunk; termites devour Rs 5 lakh

Jamalayya, a pig rearer, used cash for his transactions in the business. He saved up his hard-earned money and locked it in a trunk instead of putting in a bank

twitter-logoBusinessToday.In | February 17, 2021 | Updated 15:18 IST
Andhra trader saves life savings in trunk; termites devour Rs 5 lakh

The dream of saving up for his dream home has turned into a nightmare for an Andhra Pradesh trader. Bijli Jamalayya, a resident of Mylavaram saw his dreams shattering when he realised his life savings had turned worthless as termites fed into the notes.

Jamalayya, a pig rearer, used cash for his transactions in the business. He saved up his hard-earned money and locked it in a trunk instead of putting in a bank. The trader wanted to accumulate enough money to build a house and saved up about Rs 5 lakh in the trunk.

However, as it turns out the trunk was not very secure. When Jamalayya fell short of Rs 1 lakh to invest in his business, he opened the trunk to discover the termite infestation. Termites bore into the notes and fed on them turning the notes into pieces of scrap. Bundles of Rs 500 and Rs 200 currency notes were destroyed by the termites.

The trader had reportedly kept his family members and himself away from luxuries to save up for his house. Upon the discovery, Jamalayya collapsed and broke down.

Seeing his children with pieces of notes piqued the interest of the locals who informed the police in Mylavaram. Police later investigated to discover Jamalayya's story.

The resident of Krishna district told the police that the amount was his lifetime savings. He added that neither he nor his family members had any bank account and that they saved up the money in an old trunk box.

Also read: Income tax pampers senior citizens with extra benefits; here's the list

Also read: NPS schemes delivered 23% returns in last year; what to expect in future?

  • Print
  • COMMENT
BT-Story-Page-B.gif
A    A   A
close