Armed men loot SBI Branch in Chadchan, Karnataka, flee with gold, cash

Three masked men armed with country-made firearms executed a daring robbery at an SBI branch in Chadchan town of Vijayapura district and fled with cash and gold ornaments worth over Rs 20 crore. Elaborating further, police said on Wednesday (September 16) that during the robbery on Tuesday (September 17), the robbers overpowered the branch staff and tied them up.

Police said the incident took place at around 6.30 pm on Tuesday. According to a PTI report, the bank authorities estimated that the robbers have taken away cash and gold ornaments worth over Rs 21 crore.

Robbers posed as customers

Investigators said that the three accused entered the branch on the pretext of opening a current account and then threatened the manager, cashier and other employees with pistols and knives. The gang tied up the hands and feet of the staff.

The robbers then asked the branch manager to open the cash vault and forced the staff to open the gold locker and threatened to kill them if they refused to comply, reported NDTV.

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Used fake number plate

Vijaypura Superintendent of Police Laxman Nimbargi told PTI that the three accused used a Suzuki EVA vehicle with a fake number plate to avoid detection. After committing the offence, they moved towards Pandharpur in Maharashtra.

"Further investigation is underway and all efforts are being taken to nab the suspects," he added.

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Another robbery at Canara Bank

Earlier, a robbery on May 25 at Canara Bank’s Managuli branch in Vijayapura district resulted in the theft of gold and cash valued at over Rs 53.26 crore. A total of 15 accused individuals were arrested in the case, with the latest three arrests occurring in July. The arrests followed police interrogations of three suspects, one of whom is Vijayakumar Miriyala, the former branch manager.

SP Nimbargi had said that police have so far recovered assets worth over Rs 39.26 crore, including 39 kg of melted gold, Rs 1.16 crore in cash, and five vehicles. The stolen valuables included gold ornaments and a cash reserve of Rs 5.2 lakh, with significant efforts made to conceal the crime, including the theft of the bank’s Network Video Recorder (NVR) to evade identification.

"Fifteen accused have been arrested, and assets worth over Rs 39.26 crore recovered," Nimbargi stated during a press conference. "Initial reports from Canara Bank indicated that 58.97 kg of gold jewellery was stolen. However, after verification by bank authorities, the confirmed net weight was 40.7 kg."

(With agency inputs)