SBI Bank Robbery in Karnataka: 59 Kg Gold and 8 Crore Cash Looted

SBI Bank Robbery in Karnataka: Masked Men Loot 59 Kg Gold and 8 Crore Cash, Massive Police Search Underway

In a shocking incident that has left Karnataka on high alert, a daring SBI Bank Robbery took place in Vijayapura district, where armed masked men made away with 59 Kg Gold and 8 Crore Cash. The robbery occurred on Tuesday evening when the culprits stormed into the State Bank of India branch, brandishing country-made pistols and other weapons to intimidate the staff. Employees were reportedly tied up at gunpoint, and the robbers swiftly looted the valuables before fleeing the spot.

According to initial reports, the robbers arrived at the bank in a car, which was later found abandoned in Pandharpur, Maharashtra, indicating their escape route across the state border. A joint operation between Karnataka and Maharashtra police has been launched to track down the culprits. Security personnel and investigative teams reached the branch shortly after the incident, while a large crowd gathered outside the bank to witness the aftermath of one of the biggest robberies in recent history.

The sheer scale of the SBI Bank Robbery has stunned locals, given that both cash and pledged gold were targeted in such a coordinated manner. Eyewitnesses and local media outlets revealed that the assailants wore military-style uniforms to conceal their identity and create confusion. They threatened the branch manager, cashier, and other staff members, warning them not to press the alarm button. By cutting off all means of communication, the robbers ensured their swift exit before police could respond.

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This is not the first time Vijayapura has witnessed a high-profile bank robbery. Just two months earlier, in June 2025, the city was rattled by the Canara Bank Robbery, where 59 Kg of pledged gold and Rs 5.2 lakh cash were stolen from a branch in Managuli village. The police later uncovered a shocking conspiracy behind the incident, arresting three suspects, including the former bank manager himself. Investigators revealed that Vijaykumar Miriyal, the former branch manager, was the mastermind of the Canara Bank heist. He was supported by ex-bank employee turned casino operator Chandrashekhar Nerella and his assistant Sunil Moka.

The SBI incident, however, seems to have been executed differently, with a gang of masked outsiders using weapons, disguises, and precise planning to carry out the looting. The similarities between the two robberies, however, cannot be ignored, as both targeted gold deposits in Vijayapura. Police officials are not ruling out possible connections between the gangs involved or whether any insider information played a role in facilitating the SBI heist.

The 59 Kg Gold and 8 Crore Cash stolen from the SBI branch marks one of the largest single bank thefts in Karnataka’s history. The incident has raised serious concerns about banking security, especially in semi-urban branches where gold loans are predominant. Security experts are questioning how such large amounts of gold and cash were vulnerable despite advanced security systems, CCTV surveillance, and alarm mechanisms that are standard in modern banks.

Meanwhile, public fear has intensified, with many locals questioning the safety of keeping their valuables in banks. Families who had pledged gold at the SBI branch are anxious about whether their ornaments will be returned or compensated. Authorities have assured depositors that customer assets are insured and will remain protected despite the robbery.

The Karnataka police, in coordination with Maharashtra counterparts, have widened their search operations, deploying multiple teams to track down the gang. Checkpoints have been established along major highways, and intelligence units are analyzing CCTV footage from nearby areas. Forensic teams are also investigating the abandoned getaway vehicle found in Pandharpur for fingerprints and other clues.

This daring SBI Bank Robbery has once again brought attention to the growing trend of gold-related heists in Karnataka, where pledged ornaments often become the prime target for criminals. While the Canara Bank case highlighted insider involvement, the SBI case underscores how well-armed gangs are capable of bypassing existing security frameworks.

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As the investigation progresses, police remain hopeful of making quick arrests and recovering the stolen 59 Kg Gold and 8 Crore Cash. However, the incident has already sparked nationwide debates about strengthening bank security measures and ensuring that such audacious robberies do not repeat in the future.

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