Armed men tie up staff, rob SBI branch in Karnataka of cash and gold worth 20 crore   

Three masked men armed with country-made pistols and knives allegedly robbed a nationalised bank in this district, making off with over Rs 20 crore in cash and gold ornaments, after tying up the staff, police said on Wednesday.

The incident occurred at around 6.30 pm on Tuesday at the State Bank of India branch in Chadchan town of Vijayapura district, they said.

Cash and gold ornaments worth over Rs 21 crore have been stolen by the robbers as per the estimate of the bank authorities.

According to police, three masked men came to the bank under the pretext of opening a current account and threatened the manager, cashier and other employees with pistols and knives. The gang tied up the hands and feet of the staff.

They escaped with more than Rs 1 crore in cash and gold ornaments weighing approximately 20 kg, worth approximately Rs 20 crore, the FIR said.

Based on the complaint of the bank manager, a case was registered, police said, adding that teams have been formed to nab the suspects.

Citing preliminary investigation, Vijaypura Superintendent of Police Laxman Nimbargi told PTI that the suspects used a Suzuki EVA vehicle with a fake number plate.

After committing the offence, they moved towards Pandharpur in Maharashtra.

"Further investigation is under way and all efforts are being taken to nab the suspects," he added.