Canara Bank’s Managuli Branch Targeted in Overnight Robbery
In a major security breach, Karnataka’s Vijayapura district witnessed what is being called the biggest gold heist in the country. Gold ornaments and valuables worth ₹52 crore were stolen from the Managuli branch of Canara Bank, with the theft reportedly occurring on May 23, 2025.
The crime came to light only days later, as the branch remained closed for a period, giving the perpetrators ample time to execute the meticulously planned robbery. The thieves reportedly gained access to the bank’s strongroom and took away gold pledged by customers against loans. Preliminary investigations suggest that the criminals used advanced tools to break into the vault without triggering the alarm systems.
Robbery Remained Undetected for Days; Investigation Underway
Sources from the Karnataka Police and bank officials confirmed that the theft was not discovered until the bank reopened after a weekend, and staff found the strongroom compromised. The bank has since filed a formal complaint, and local police, along with the forensic team, have begun collecting evidence from the site.
Authorities suspect the involvement of an insider, given the precise knowledge of the bank’s layout and security mechanisms. CCTV footage is being scrutinized and teams have been dispatched to trace the movement of suspects in and around the area during the relevant period.
The incident has raised serious concerns over security protocols in financial institutions, especially in semi-urban branches. Canara Bank is conducting an internal review of its safety systems, while law enforcement agencies have launched a state-wide manhunt.
The Reserve Bank of India (RBI) has also taken note of the incident, and further updates are awaited as the investigation progresses.
About the Author – Anirudh Mittal is a B.Sc. LL.B. (Hons.) student at National Forensic Sciences University, Gandhinagar, with a keen interest in corporate law and tech-driven legal change.