In a shocking bank heist in Karnataka, unidentified thieves looted valuables worth over ₹53 crore from a Canara Bank branch in Managuli town, located in the Basavan Bagevadi taluk of Vijayapura district. The robbery took place on May 25, 2025, and is being dubbed one of the biggest bank thefts in recent times.
According to Superintendent of Police Laxman Nimbaragi, 58.975 kg of gold jewellery and ₹5.20 lakh in cash were stolen from the locker of the bank. The SP has formed eight special investigation teams to probe the incident and said multiple crucial clues have already been found.
“We have uncovered several facts and got important leads. A duplicate locker key was used in the crime, suggesting insider involvement,” SP Nimbaragi stated.
Inside Job Suspected in ₹53 Crore Canara Bank Heist
The preliminary investigation revealed that the gang — estimated to be 6 to 8 persons — broke open the main entrance, disabled the alarm system, and used a duplicate key to access the locker. Interestingly, only one locker containing gold was opened, while another remained untouched, reinforcing suspicions of insider knowledge.
In an unusual twist, the robbers also smashed a window and placed a black doll at the scene, appearing to perform black magic rituals—a tactic believed to have been used to divert police attention and confuse the investigation.
Police Launch Manhunt
The police are now examining CCTV footage, employee records, and entry logs to trace how the duplicate key was created and who had access. As the case unfolds, all angles, including internal conspiracy and professional criminal gangs, are being considered.
This Managuli bank robbery has raised serious concerns about the security protocols of bank branches, especially in smaller towns. Authorities have called for tighter surveillance and stricter access control in such high-value vaults.
