Anguished SBI customers demand return of gold

Davangere: A heist at the SBI Bank in Nyamathi town has left customers furious and demanding the return of their stolen gold. On October 28, thieves looted gold jewelry worth ₹12.95 crore from the bank. Despite the passage of 17 days, the culprits remain at large, and 509 affected customers are still waiting for their gold.

Frustrated customers, many of whom had pledged their gold as collateral for loans, held a meeting and took to the streets, chanting slogans such as “Our Gold, Our Right”. Protesters claim the bank is offering compensation based on gross weight rather than the net weight, which excludes the non-gold components of the jewelry.

“I deposited 500 grams of gold to secure a ₹20 lakh loan. Now they are saying they’ll only pay for 300 grams. This is unjust. I don’t want the money; I want my gold back,” said Kavita, a distraught customer who broke down while speaking.

The heist has sparked tensions in many families, with disputes over the stolen gold escalating. “My family used the gold as collateral for my children’s education and farm expenses. This theft has caused fights between my mother-in-law and my wife. Some of the stolen gold belonged to my late sister, saved for her children’s future. We don’t want money; we want our gold back,” said Mamata, another aggrieved customer. The affected customers, feeling neglected by the bank, organized a march from Surahonne IB to the police station and the Tehsildar’s office, seeking justice. Over 200 people participated, demanding answers and action to recover their stolen gold.

Bank staff have reportedly been unresponsive, further angering the customers. Anand, an SBI staff member, stated, “I am not authorized to comment. The regional manager will decide on claims and compensation. We’ve forwarded customer requests to higher authorities, and they will determine the next steps.”

While customers remain in limbo, the police and SBI authorities continue their investigation into the heist. The absence of any significant leads or arrests has amplified the public’s frustration, with many questioning the bank’s accountability and security measures. The Nyamathi SBI Bank robbery has not only caused financial distress but has also deeply affected the trust between the institution and its customers.