An estimated 70 million Indian rupees (approximately $800,000 USD) was stolen from a cash transport vehicle in Bengaluru, Karnataka, India, by individuals impersonating officials from the Reserve Bank of India. The incident occurred in daylight on Wednesday afternoon.
Bengaluru police have initiated an extensive investigation to identify and apprehend the individuals responsible. The robbery took place on a busy city road as the cash-in-transit van was moving funds between bank branches.
The vehicle was occupied by a driver, a cash custodian, and two armed security guards. Six perpetrators in an SUV intercepted the van.
The individuals claiming to be Reserve Bank of India officials informed the van's occupants that they needed to verify the documentation for transporting the large sum of money. They instructed the cash custodian and guards to relinquish their weapons, place them in the van, and enter the SUV. The driver of the cash van was then directed to continue driving.
After following the cash van for several kilometers, the perpetrators forced the driver out of the van, removed the cash custodian and guards from the SUV, transferred the cash under threat of weapons, and then departed the scene.
Police reported limited CCTV coverage in the immediate vicinity of the incident. Investigators are also examining whether the perpetrators utilized multiple vehicles during the operation. The cash transportation service company has filed an official police complaint.
Authorities noted that the SUV used in the heist bore a counterfeit license plate and a 'Government of India' decal. Police are also investigating the potential involvement of employees from the cash transportation company.
Karnataka Chief Minister Siddaramaiah confirmed that the SUV used in the heist has been recovered by police. However, Home Minister G Parameshwara stated that the specific vehicle used by the suspects for escape remained undetermined, noting that the money was transferred between vehicles. He expressed confidence in a prompt resolution of the case, referencing successful past investigations into significant bank robberies in Karnataka.
In May, a separate incident involved the theft of 59 kilograms of gold, valued at 532.6 million rupees, from a bank in Vijayapura district using a duplicate locker key. Police have since recovered 39 kilograms of gold and some cash, leading to the arrest of 15 individuals, including two former employees.