Bengaluru: The assistant branch manager of Indian Bank, Girinagar branch in Banashankari 3rd Stage, Bengaluru, was arrested for stealing over 2 kg of gold ornaments that were pledged by customers to get gold loans. The heist is worth nearly Rs 4.12 crore.
Investigation has revealed that the accused, E Kiran Kumar (35), was addicted to online betting and gambling. He stole the ornaments and pledged them at gold finance firms. The theft came to light when a customer came to collect her jewellery after closing the gold loan.
Around 700 gm of gold ornaments were recovered from Kumar’s possession, the police said, as reported by The New Indian Express. Only the bank manager and Kumar had access to the room where the pledged gold was kept. Kumar stole small quantities from the packets in which the gold ornaments were kept, it has come to be known.
The matter first came to light on February 2, when one of the bank’s customers, who had closed her gold loan, came to collect her ornaments. She noticed that some of her jewellery was missing from the packet and complained to the manager, who ordered an internal probe.
It is believed that the theft occurred between June 24, 2025 and January-end this year. The bank’s chief manager Dilip Kumar filed a complaint at the Girinagar police station on February 5 after Kumar’s role was proved.
“On February 2, the customer went to the bank branch to close her gold loan and to take her ornaments back. When she checked, she found some pieces of jewellery missing. She complained to bank’s branch manager Trupti Jha, who informed the zonal office,” an official said.
“During the internal investigation, it was found that ornaments belonging to 24 gold loan accounts out of the total 207 had been stolen. From 21 packets, small quantities of jewellery were stolen, but from three others, the entire contents were emptied out. In total, 2.78 kg of gold worth around Rs 4.12 crore had been spirited away,” he added.
Kumar, who was working at the bank’s Girinagar branch from June 24, 2025, is said to have confessed that only he was involved in the theft. He has submitted the receipts from places where he pledged the stolen ornaments.
“A case of criminal breach of trust has been filed against him. Customers are advised to repeatedly check their gold ornaments kept in banks,” Lokesh B Jagalasar, DCP (South), said.
