Burglars broke into the branch, looting cash and gold ornaments worth ₹10 crore that had been mortgaged by customers. They gained entry by removing the windows of the strong room and using tools like screwdrivers and gas cutters to open it.
The crime came to light on Tuesday morning when the bank staff noticed the break-in and alerted their superiors. According to circle inspector K. Shravan Kumar, the branch did not have security guards. The burglars disabled the CCTV cameras by cutting electricity wires before gaining access to the strong room, where they stole 620 packets of gold ornaments.
Eleven special teams, including a dog squad and forensic experts, have been deployed for the investigation. Residents in the vicinity reported no unusual sounds from the bank on Monday night, suggesting the robbery was meticulously planned. Police believe the burglars conducted a recce of the area beforehand and executed the heist with precision.
A bank official, speaking on condition of anonymity, explained that SBI branches are categorised into three types: small branches, hand-ball branches, and main branches. Only main branches have highly secure strong rooms. The Raiparthy branch is a hand-ball branch, and its strong room lacks robust security features. The burglars targeted the room where gold ornaments were stored in bags, bypassing the lockers used by customers.
Another employee highlighted that bank policies require the deployment of security guards, with three guards needed to provide 24-hour protection. However, guards are hired on an outsourcing basis with salaries ranging from ₹15,000 to ₹20,000, leading to concerns about their reliability since they are not permanent employees.