Jabalpur, Aug 11 In a daylight robbery that has shaken the cultural capital of Madhya Pradesh, a gang of armed men looted gold and cash worth over Rs 10 crore from ESAF Small Finance Bank in Jabalpur’s Khitola area on Monday.
The heist, executed in under 20 minutes, has raised serious questions about banking security and law enforcement preparedness during the festive season.
According to police sources, the robbery occurred around 8:50 am - well before the bank’s usual opening time of 10:30 am. Due to Raksha Bandhan, the branch had opened early to accommodate increased footfall, particularly for gold-backed loans.
The robbers, numbering five to six, arrived on two motorcycles, wearing helmets and face coverings. One was reportedly armed with a pistol tucked into his waistband.
Once inside, the gang threatened six bank employees and forced them to surrender approximately 15 kg of pledged gold and Rs 5 lakh in cash. No injuries were reported, and the staff complied without resistance. The robbers fled by 9:08 am, escaping on motorcycles toward an unknown direction.
Police officials, including DIG Atul Singh and SP Sampat Upadhyay, reached the scene shortly after being informed - though notably, the bank staff delayed alerting authorities by nearly 45 minutes.
Investigators are now reviewing CCTV footage from the bank and surrounding areas, and have deployed fingerprint experts and a dog squad to aid the search. All nearby districts have been placed on high alert. Initial estimates pegged the stolen gold at 15 kg and Rs 14 crore in value, and Rs 5 lakh in cash.
The absence of a security guard at the time of the incident has drawn criticism, especially given the bank’s role in handling high-value gold collateral. Police are also probing whether the robbers had prior knowledge of the bank’s festive schedule and operational vulnerabilities.
As the manhunt intensifies, authorities remain tight-lipped about leads. “Multiple teams have been deployed. We are confident the accused will be apprehended soon,” said CSP Sihora Aditya Singh.
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