₹4 crore gold theft row: customers protest outside Indian bank in Girinagar

Bengaluru, : Tension prevailed outside the Indian Bank branch in Girinagar as aggrieved customers staged a protest over the alleged theft of gold ornaments worth nearly ₹4 crore. The protestors accused the police of inaction and delay in the investigation, even three months after the case was registered.

Customers who had pledged their gold at the bank gathered in large numbers on Thursday, demanding immediate action against the accused assistant manager Kiran. “Despite filing a complaint months ago, there has been no visible progress. We have lost our valuables and are left in uncertainty,” one of the protestors said.

According to the complainants, Kiran had been arrested earlier but secured bail within three days. “He was arrested, but due to lack of strong action, he managed to come out on bail quickly. This raises serious questions about the investigation,” another customer alleged.

Officials, however, clarified that the delay was due to legal complications. “The आरोपी had pledged the stolen gold with Muthoot Finance. We have initiated recovery proceedings, but the company has approached the court, which has caused legal hurdles. The investigation is in its final stage, and a charge sheet will be filed soon,” an अधिकारी said.

The case dates back to February 5, when the bank manager lodged a complaint with the Girinagar police. Investigations revealed that gold pledged by around 24 customers had gone missing. The accused allegedly removed the ornaments in a phased manner, similar to scenes from a crime film, and used them to secure loans from a finance company.

Police sources said the accused also reportedly spent the money on online betting and personal expenses. The fraud came to light when customers visited the bank to reclaim their pledged gold, prompting an internal audit of lockers.

The incident has triggered widespread concern over the safety of pledged assets in banks. Customers are now demanding stricter safeguards and accountability from financial institutions.

As protests intensify, all eyes are on the authorities to expedite the probe and ensure recovery of the stolen gold, while also restoring public trust in the banking system.