India News : A major bank heist shocked Karnataka’s Vijayapura district on Tuesday evening, as five armed robbers, dressed in military-style uniforms, stormed into the State Bank of India (SBI) branch in Chadchan town, tied up the staff, and looted 58 kg of gold and approximately ₹8 crore in cash.
The incident, which took place around 5 PM, has triggered a high-alert response in both Karnataka and neighbouring Maharashtra, where the getaway vehicle was later found abandoned in Pandharpur (Solapur district).
According to preliminary reports, the robbers were armed with country-made pistols and other weapons. Upon entering the bank, they threatened the manager, cashier, and other employees, restrained them with ropes, and disabled the alarm system before breaking into the bank’s vault.
Robbers Fled in White Car, Traced to Maharashtra
After the robbery, the gang fled in a white car, which was found abandoned the next morning in a deserted area near Pandharpur. Inside the car, police recovered key evidence including ropes and face masks. The vehicle’s registration has been traced, confirming it was used in the heist.
Joint teams of Karnataka and Maharashtra police, including dog squads and forensic experts, have launched a massive manhunt across Pandharpur, Solapur, and border areas. Security has been tightened, and raids are ongoing.
Links to Organized Gang Suspected
Authorities suspect the involvement of an organized crime gang exploiting security lapses in bank branches. A senior Karnataka police officer noted that the modus operandi resembles a previous robbery at an SBI branch in Davanagere, where 17 kg of gold was looted, allegedly inspired by the Netflix series Money Heist.
A police spokesperson from Maharashtra said:
“We are keeping strict vigil along the borders. The operation appears to be a part of a chain of well-planned bank heists.”
Estimated Loss Over ₹60 Crore
Bank officials have confirmed that the looted gold belonged to customers who had pledged jewellery for loans, while the cash was part of daily transactions. The total estimated loss is reportedly over ₹60 crore.
CCTV footage is being analyzed, and alerts have been issued to banks and police units in surrounding districts. Citizens and security experts are questioning the adequacy of bank security protocols, especially in semi-urban and rural branches.
