20 Kg Gold Stolen from SBI Branch in Telangana

A shocking case of fraud has been reported at the State Bank of India (SBI) branch in Chennuru, Adilabad district, Telangana, where a cashier allegedly carried out a scam worth ₹13.71 crore. The accused, Narige Ravinder, is said to have cheated 402 customers by misappropriating their deposited cash and mortgaged gold. The gold mortgaged against loans was kept in the safe vault, but the cashier misused his position to commit the fraud.

The cases of Gold robbery are increasing day by day. Earlier also, 10 Kg Gold and Rs.38 Lakh Cash was looted from SBI in Andhra Pradesh.

How the Scam Was Executed?

Ravinder had been working as a cashier at the branch since 2017. He is accused of planning the fraud over ten months. He allegedly created fake bank accounts in the names of his friends and family members. Using these accounts, he diverted customer deposits and mortgaged gold for his own use.

The scam came to light during a routine quarterly audit, which exposed major gaps in the bank’s cash and gold records. Investigations revealed that out of 25.175 kg of gold pledged by 449 customers, Ravinder had stolen 20.496 kg worth ₹12.61 crore. He also siphoned off ₹1.10 crore in cash deposits, bringing the total fraud amount to ₹13.71 crore.

Suspicion grew when Ravinder suddenly stopped coming to work after the audit began on May 22. Further verification of records, CCTV footage, and fingerprint evidence confirmed his role in the fraud.

Ravinder is a B.Tech graduate from Basara Triple IT and had been working with SBI for several years. Police say he was struggling with huge debts from online betting.

Before absconding, Ravinder is suspected to have invested a portion of the stolen money in other banks and finance companies. It’s also reported that he shaved his head in Vemulawada to change his appearance and avoid being recognized.

Police Action

The police have launched a massive manhunt to trace the absconding cashier. So far, nine people, including Ravinder’s wife and sister-in-law, have been arrested for helping him in the scam. Cases have been filed against all those involved, and special teams are tracking his movements.

Customers Panic, Bank Gives Assurance

News of the fraud has created panic among depositors at the Chennuru branch. Customers are deeply worried about the safety of their deposits and gold. To control the situation, the branch manager and senior bank officials stepped in and assured people that all necessary steps are being taken to recover the stolen amount and return their money and gold.

SBI has already assured that every customer will get back their hard-earned money and gold. The bank has sufficient systems, resources, and insurance mechanisms in place to safeguard customer interests. While the fraudulent act by one employee is highly unfortunate, customers should remember that the bank as an institution is committed to the trust and confidence of millions of people across India. SBI has promised that all necessary steps are being taken to recover the stolen assets, and not a single customer will be made to suffer losses.