WARANGAL: In a dramatic escalation of their fight for justice, account holders at the SBI’s Rayparthi branch locked the bank’s doors and staged a sit-in protest on Friday. Frustrated by over six months of unanswered questions and delayed compensation following a high-profile robbery, the customers demanded swift action from both the bank and local authorities.
The incident dates back to November 19, 2024, when a robbery at the branch resulted in thieves making off with more than 16 kg of gold, valued at over Rs 14 crore. The stolen gold, stored in the bank’s safety lockers as collateral for local residents’ loans, was seized in approximately 500 packets during the heist.
Despite assurances — including a promise of a visit by a regional manager on April 4 — customers were told to return on April 7 for further updates. This delay prompted the account holders to take matters into their own hands. “We have been waiting for months and are getting no answers. We want our gold back, and we want justice now!” one protester declared.
While police efforts have led to the arrest of six members of the seven-member gang, only 2.52 kg of gold, worth Rs 1.80 crore, have been recovered so far. Authorities remain on the lookout for the elusive gang member, who is reportedly evading capture by frequently changing SIM cards and travelling extensively. A police official, speaking on condition of anonymity, said, “We have intensified the probe by deploying specialised teams across Maharashtra, Karnataka, and Chhattisgarh. However, tracking the suspect remains a challenge.”
In response to the incident, the bank has implemented additional security measures, including an increase in security personnel and stricter entry checks. Nonetheless, local customers remain skeptical, and the protest continues as they call for immediate resolution and the return of their stolen gold.
The SBI Rayparthi protest has highlighted serious security concerns in rural banking sectors, prompting broader questions about the effectiveness of current protocols.
