SBI Nyamati Bank Robbery Case Solved After Six Months, Customer looted Rs.13 crore after denied Loan
In a shocking twist, the robbery case involving around 17 kilograms of gold worth ₹13 crore, stolen from the State Bank of India’s (SBI) Nyamati branch in Davanagere district, has been solved after six months of investigation. The heist occurred on October 26, 2024, and was finally cracked when police arrested the main suspect, Ajaykumar (28), and four of his accomplices.
509 customers of the State Bank of India (SBI) in Nyamathi, Karnataka, 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.
Who Are the Accused?
According to reports, the arrested suspects include:
- Ajaykumar – The mastermind from Tamil Nadu.
- Vijaykumar – From Tamil Nadu, who helped hide the stolen items.
- Chandru – A resident of Surahonni village in Nyamati taluk.
- Manjunath – Also from Surahonni.
- Abhishekh – Another accomplice from Surahonni.
Why Robbery was done? What Robbers told?
The robbery’s backstory reveals financial frustration as the motive. Ajaykumar had applied for a business loan from SBI’s Nyamati branch to support his bakery venture. However, his loan application was rejected, despite his alleged payment of a ₹60,000 bribe to bank officials. This rejection fueled resentment, and Ajaykumar, along with his accomplices, hatched a plan to rob the bank.
The accused carefully planned the robbery. They researched bank robbery techniques by studying crime stories and watching videos on YouTube. They chose October 26, 2024, to execute the crime because the following day, October 27, was a holiday, giving them extra time to escape unnoticed.
How the Robbery Was Executed
The group walked 4 kilometers to the bank from the rear side to avoid detection. They entered the bank by removing window rods on the right side of the building. Once inside, they broke into the main strongroom, stole gold jewellery, and removed the CCTV camera’s DVR to erase evidence. To further cover their tracks, they scattered chilli powder on the premises to confuse police sniffer dogs.
The stolen gold belonged to 509 customers who had pledged their jewellery for loans. Fortunately, a second strongroom containing valuables from 423 other customers was left untouched by the robbers.
After the heist, Ajaykumar transported the stolen jewellery to Tamil Nadu and hid it in an old well on Vijaykumar’s property. Meanwhile, the accused continued with their normal lives and business activities in Nyamati, pretending that nothing had happened.
Police Investigation
The case took a positive turn when the police, led by Superintendent of Police (SP) Uma Prashant, managed to track down the suspects. The investigation led to the recovery of 14 kilograms of gold from the well in Tamil Nadu. However, one of the suspects, Paramanand, is still absconding, and efforts are underway to apprehend him.
The successful resolution of the Nyamati SBI bank robbery case highlights the relentless efforts of the police and their ability to crack even the most complex cases. Their dedication has brought justice to the victims and restored confidence in law enforcement.
This case serves as a reminder of the importance of financial discipline and the risks that arise when frustration and resentment lead individuals down a path of crime.
