In one of the biggest bank robberies in recent years, a branch of the State Bank of India (SBI) in Vijayapura district, Karnataka, was looted by armed masked men who escaped with 59 kg of pledged gold and ₹8 crore in cash.
The audacious heist unfolded on Tuesday evening, when the gang stormed into the bank, reportedly dressed in military uniforms. Armed with country-made pistols and other weapons, they overpowered the staff, tied them up, and threatened the manager and cashier to stop them from raising the alarm.
Eyewitnesses say panic gripped the area as word of the robbery spread, with locals gathering outside the bank while police rushed to the spot.
After the heist, the robbers fled in a car that was later found abandoned in Pandharpur, Maharashtra. A joint operation by Karnataka and Maharashtra police is now underway to trace the gang, who appear to have planned the robbery with military precision.
&ldquo;The manner in which the gang executed the robbery, uniforms, weapons, coordination, suggests a high level of planning,&rdquo; a senior police official said, adding that multiple teams are scanning border routes and surveillance footage.
Shockingly, this isn&rsquo;t the first major bank robbery in the city this year. Back in June 2025, a Canara Bank branch in Vijayapura was hit, with 59 kg of pledged gold and ₹5.2 lakh in cash stolen.
Investigations into that case revealed an inside job, with the former branch manager, Vijaykumar Miriyal, identified as the mastermind. He was arrested along with two accomplices,&nbsp;a former employee turned contractor and casino operator, and his assistant.
The uncanny resemblance in scale and planning has led investigators to examine whether the latest SBI loot could be linked to the earlier Canara Bank heist.
As the probe widens, police are not ruling out the involvement of&nbsp;organised crime networks. Teams are also looking into whether local insiders aided the gang in navigating bank protocols.
For now, 59 kg of gold and crores in cash remain missing, making the SBI heist one of the most daring robberies in Karnataka&rsquo;s history.

SBI Heist: Gold & ₹8 Cr Cash Looted in Karnataka

Masked men in military gear loot SBI branch in Vijayapura; massive search underway

SBI Heist: Gold & ₹8 Cr Cash Looted in Karnataka

Masked men in military gear loot SBI branch in Vijayapura; massive search underway

September 18, 2025 | 13:24 IST