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A gang of armed men carried out a high-stakes robbery at the State Bank of India (SBI) branch, escaping with a massive haul of gold and cash valued in several crores in Chadachan town, Karnataka on Tuesday. According to investigators, the group of over five assailants arrived in military-style uniforms, their faces covered to avoid identification.

Armed with country-made pistols and sharp weapons, they stormed into the branch during business hours. Staff members, including the branch manager and cashier, were held at gunpoint, tied up, and forced to surrender the valuables, reported India TV.

50 Kgs Of Gold, Rs 8 Crore Cash Looted From SBI Branch

Preliminary reports suggest the robbers took away nearly 50 kilograms of gold ornaments and around Rs 8 crore in cash. Officials, however, noted that the exact figure will be confirmed only after a detailed audit of the bank’s holdings. The heist was executed swiftly, and the men fled before local authorities could respond, leaving staff and customers deeply shaken, reported India Today.

VIDEO | Vijayapura, Karnataka: A gang of masked men struck at State Bank of India branch looting cash and gold worth crores on Tuesday evening. Police have launched manhunt to nab the criminals.#Bankloot #KarnatakaNews

(Full video available on PTI Videos -… pic.twitter.com/51eq1Jen6Y

— Press Trust of India (@PTI_News) September 17, 2025

Police teams have since launched a large-scale search across the district and adjoining areas. Investigators believe the robbery was carefully premeditated, citing the speed, precision, and coordination of the criminals.

This brazen crime comes against the backdrop of another major bank robbery in Vijayapura earlier this year. In June 2025, thieves looted 59 kilograms of pledged gold and over Rs 5 lakh in cash from a Canara Bank branch in the city. That case resulted in the arrest of three people, including a former bank manager who allegedly orchestrated the theft.