Masked men loot SBI branch in Karnataka, escape with 58 kg gold and Rs 8 crore cash

In a brazen robbery, masked men have looted a State Bank of India (SBI) branch in Karnataka’s Vijayapura district. The assailants made off with a staggering 58 kg of gold and approximately Rs 8 crore in cash.

The heist, which took place on Tuesday evening, has sent shockwaves through the region. According to a report by News18, the armed robbers stormed the bank, threatening staff and preventing them from raising the alarm.

Preliminary information indicated that the perpetrators were armed with country-made pistols and other weapons. Local reports suggest they were also disguised in military uniforms.

The gang barged into the bank and immediately overpowered the employees. They tied up the staff, including the manager and cashier, securing the premises to execute the theft unchallenged.

After seizing the valuables, the robbers fled the scene. The vehicle used in the getaway was later discovered abandoned in Pandharpur, Maharashtra. This has prompted a large-scale joint search operation between the police forces of Karnataka and Maharashtra.

Officials are at the crime scene and investigation is underway. A crowd has gathered outside the besieged bank branch as the scale of the theft becomes clear.

This incident chillingly echoes a previous robbery in the same city. Just months earlier, in June 2025, another major bank heist occurred at a Canara Bank branch in Vijayapura.

In that case, robbers stole 59 kg of pledged gold and Rs 5.2 lakh. The investigation into that robbery led to the arrest of three key suspects, as reported by News18.

Among those arrested were the bank's former manager, Vijaykumar Miriyal, who was alleged to be the mastermind. Also detained were a former bank employee turned contractor, Chandrashekhar Nerella and the manager’s assistant, Sunil Moka.

The arrest of bank staff in the prior incident raises serious questions about security protocols and insider threats within financial institutions in the area. The police have reportedly launched a manhunt to apprehend the suspects responsible for this latest theft. The investigation remains ongoing.