In a serious bank robbery, 509 customers of the State Bank of India (SBI) in Nyamathi, Karnataka, have lost gold jewelry worth ₹13 crore. This jewelry was kept in the bank as collateral for gold loans. The theft happened in Nyamathi, a town about 325 km from Bengaluru. The robbers targeted jewelry from customers who had borrowed money against their gold. A total of 932 customers had gold loans, with jewelry weighing 17.705 kg, but the thieves managed to steal items belonging to 509 of these customers.
Details of the Heist
The robbery took place on the night of October 25 or 26, when the bank was closed. The thieves got inside by cutting through a side window. Once inside, they used gas cutters to break into three locker doors, and they successfully accessed one locker. To avoid being caught on camera, they disabled the CCTV cameras and the digital video recorder that stored the footage.
Investigation and Customer Concerns
The police have not yet completed the mahazar procedure, which is an important step to document the crime scene. Because of this delay, customers—many of whom come from rural areas—cannot enter the bank to check on the status of their valuables. Many of these customers are feeling anxious and worried about whether their jewelry is safe or has been stolen.
Currently, the police are actively investigating the case, but they have not reported any significant breakthroughs. In another report from Davanagere, it was revealed that the thieves broke into the SBI branch on Nehru Road in Nyamathi, stealing jewelry worth around ₹13 crore but leaving cash untouched. The robbery was discovered on Monday morning, two days after it happened, when bank staff arrived to open the bank.
The robbers entered by cutting metal rods on a window on the right side of the building. After getting in, they went directly to the lockers where customers store their jewelry as loan collateral. They also took the DVR that records the bank’s CCTV footage, likely to cover their tracks.
When the theft was reported, the Nyamati police began their investigation immediately. They checked CCTV footage from nearby cameras to gather clues about the robbers. Fingerprint experts are also working to collect any evidence that the thieves may have left behind.
To confuse sniffer dogs that might be used to track them, the thieves spread chili powder throughout the bank. This clever trick was intended to throw off the dogs and help the burglars escape without being caught. The stolen jewelry belonged to about 500 customers, each of whom had used their items as security for loans, making this crime especially upsetting for them.
Davanagere Superintendent of Police (SP) Uma Prashanth stated, “It looks like the burglars are professionals. We have formed five teams to investigate the case, which includes Circle Police Inspectors (CPIs) and ten Police Sub-Inspectors (PSIs).” IGP (Eastern Range) B. Ramesh also visited the crime scene to see what happened and to support the investigation.
As the police continue their investigation, local residents are concerned about security at banks. Authorities are encouraging anyone with information about the theft to come forward, emphasizing that the community’s help is vital in solving this crime.
