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Rs.8 crore in gold and cash stolen from gramin bank

MALAPPURAM: Gold and cash worth nearly Rs.8 crore has been stolen from the Chelembra branch of South Malabar Gramin Bank (SMGB) in Idimuzhikkal on National Highway17. The theft is believed to have taken place either on Saturday night or on Sunday.

Thieves entered the bank, functioning on the first floor of a brick-and-concrete building, by drilling a hole through the floor of the strong room from below. A restaurant functioning on the ground floor had been closed for renovation for about a week.

The thieves broke open only the lockers. Other shelves in the bank were found untouched. A white powder was found sprinkled across the floor. N.S. Bose, SMGB chairman, said that it was too early to say the exact figures of loss. He said the gold ornaments pledged by different customers had a loan value of Rs.4.6 crore. However, their actual value would be over Rs.7.5 crore, he said.

Mr. Bose said the ornaments were insured with the United India Insurance Company. The public need not worry about losing their gold or money, he said.

Top police officers, including Additional Director General of Police (North Zone) Jang Pangi; Inspector General of Police (Thrissur Range) Vijayanand; and District Superintendent of Police P. Vijayan, visited the bank. The police launched an investigation into the theft.

The restaurant functioning below the bank was reportedly bought by a Thrissur-based party a few weeks ago. As renovation work was going on at the restaurant, people in the neighbourhood did not bother about the sound of drilling they heard from it.

The bank had no security staff or watchman. Police said that the absence of a watchman helped the thieves go about their task in a relaxed manner.

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