Bengaluru — In one of Karnataka’s most audacious bank robberies in recent years, a gang of armed men dressed in military-style uniforms looted gold ornaments worth ₹20 crore and ₹1 crore in cash from a State Bank of India (SBI) branch in Chadachan town on Tuesday evening.
The Heist: Guns, Masks, and Fear
According to police, three masked men stormed into the branch armed with firearms. In a swift and violent operation, they overpowered the staff, tied the manager and employees with plastic ropes, and locked them in the toilet to prevent resistance. Customers present in the branch were also restrained.
The gang allegedly threatened the branch manager at gunpoint and forced him to open the vault. “Take out the cash, otherwise I will kill you,” one of the robbers reportedly warned before compelling staff to open the gold locker.
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Within minutes, bags filled with gold ornaments and cash were loaded into their getaway vehicle.
The Getaway and a Twist
Investigators revealed that the robbers used an Ecco van with a fake number plate to carry out the crime. After the heist, the gang fled towards Pandharpur in neighbouring Maharashtra’s Solapur district.
However, their escape took an unexpected turn when the van collided with a two-wheeler. An argument broke out with locals, drawing unwanted attention. The robbers abandoned the vehicle but managed to escape with the looted gold and cash before police could intercept them.
Police Response and Investigation
Superintendent of Police Lakshman Nimbargi and senior officers immediately rushed to the crime scene. A case has been registered, and a joint search operation has been launched by Karnataka and Maharashtra police forces to track the culprits.
“The accused used an Ecco vehicle with a fake number plate to commit the offence. After the accident involving a two-wheeler, they absconded with the loot,” SP Nimbargi said.
Police are now reviewing CCTV footage from the branch and nearby areas, and checkpoints have been set up across district borders.
A High-Stakes Hunt
Officials believe the robbery was carefully planned, with the gang possibly conducting reconnaissance of the bank beforehand. Investigators are probing whether the robbers had local assistance or insider information.
Security experts say the incident underscores vulnerabilities in small-town banks, where armed robberies—though rare—can still occur when physical security is weak.
Meanwhile, anxious customers have demanded assurance about the safety of their deposits and valuables. SBI officials have confirmed that all customer assets are insured, and efforts are underway to reassure the public.