In a shocking incident, three masked men armed with country-made pistols and knives robbed the State Bank of India branch in Chadchan, Vijayapura district, on Tuesday evening. The robbery occurred around 6:30 PM, with the assailants escaping with cash and gold ornaments valued at over ₹20 crore, according to police reports.

The robbers entered the bank pretending to open a current account. Once inside, they threatened the bank manager, cashier, and other staff members, tying them up to prevent any resistance. They demanded access to the cash vault and gold locker, threatening to harm the employees if they did not comply.

The total estimated loss includes cash exceeding ₹1 crore and approximately 20 kg of gold ornaments. Following the incident, a case was registered based on the bank manager's complaint, and police teams have been mobilized to track down the suspects.

Preliminary investigations revealed that the robbers used a Suzuki EVA vehicle with a fake number plate to flee the scene, heading towards Pandharpur in Maharashtra. Vijayapura Superintendent of Police Laxman Nimbargi stated, "Further investigation is underway and all efforts are being taken to nab the suspects."

This incident adds to a series of bank robberies in the region, including a previous robbery at Canara Bank’s Managuli branch, where valuables worth over ₹53 crore were stolen. Police have made significant progress in that case, arresting 15 individuals and recovering assets worth over ₹39 crore.