By News Karnataka
Copyright newskarnataka
Chadachan (Karnataka): A daring daylight bank heist shocked residents of Chadachan town in Vijayapura district on Tuesday when an armed gang stormed the State Bank of India (SBI) branch and escaped with gold and cash valued in several crores. The incident, which took place during business hours, left staff members and customers traumatised and triggered a massive police manhunt across the region.
Robbery executed with military-style precision
According to investigators, more than five assailants arrived in military-style uniforms with their faces covered to avoid identification. Eyewitnesses told police that the gang appeared highly organised and carried country-made pistols as well as sharp weapons. Once inside the branch, they overpowered the staff, holding the manager and cashier at gunpoint before tying them up.
The gang swiftly forced the employees to hand over valuables kept in the bank’s lockers and counters. Customers present at the branch were also threatened, ensuring no one attempted to alert authorities during the robbery.
Massive haul of gold and cash
Preliminary reports suggest the looters fled with nearly 50 kilograms of gold ornaments and around ₹8 crore in cash. Officials stressed that the exact figure will only be confirmed after a thorough audit of the branch’s holdings.
The criminals fled the scene before local authorities could respond, despite the branch being situated in a busy locality. The bank remained closed after the incident as police teams conducted an initial investigation and secured the premises.
Police launch district-wide manhunt
Soon after the incident, senior police officials rushed to the spot and launched a large-scale search operation across Vijayapura district and adjoining areas. Multiple check-posts were set up to track the movement of vehicles, while forensic teams were deployed to gather evidence from the bank.
Investigators believe the robbery was carefully premeditated, pointing to the speed, coordination and military-style discipline of the criminals. “The manner in which the gang operated indicates prior surveillance and detailed planning. We are following strong leads,” a senior police officer said.
Not the first bank heist in Vijayapura this year
The robbery has revived concerns about the vulnerability of banks in the region. In June 2025, a similar high-profile case was reported in Vijayapura city, where 59 kilograms of pledged gold and over ₹5 lakh in cash were looted from a Canara Bank branch. That case led to the arrest of three people, including a former bank manager accused of masterminding the theft.
Residents expressed shock at the repeat of such a large-scale crime within a few months. Security experts are also questioning whether banks in smaller towns are equipped with adequate safeguards against organised gangs.
Community left shaken
Local shopkeepers and customers who witnessed the robbery described scenes of panic as the armed men stormed the bank. “We were terrified; nobody knew what would happen next,” said one customer. Staff members have been offered counselling after being held hostage at gunpoint during the ordeal.
The incident has also raised fears among the public about safety in financial institutions, especially in semi-urban and rural areas where police presence may be limited.
As the investigation intensifies, authorities are under pressure to track down the culprits swiftly and restore public confidence. With the scale of the loot running into crores, the Chadachan SBI heist is one of the biggest robberies in Karnataka in recent years. Police have urged citizens to remain vigilant and cooperate with ongoing inquiries.
