2 weeks ago

700 Grams of Pledged Gold Jewellery Missing From Indian Bank

700 Grams of Pledged Gold Jewellery Missing From Indian Bank
700 Grams of Pledged Gold Jewellery Missing From Bank, Employees Under Scanner · deccanchronicle.com

People sometimes give gold jewellery to a bank to keep it safe while they borrow money.

The bank keeps the gold and returns it when the loan is paid back.

At a bank in Mahabubabad, about 700 grams of that gold went missing.

Bank officials found out during an audit, which is when they carefully check their records.

The bank's assistant manager and five other employees are suspected of taking the gold.

Police found some of the gold at the assistant manager's home.

Some gold was also reportedly given to another company called Manappuram Gold Loan.

Police are now trying to figure out how the gold was taken out of the bank.

People who kept their gold at this bank came to ask if their jewellery is safe.

The bank manager promised that steps are being taken to keep the gold safe.

Key facts

Missing items
Around 700 grams of gold jewellery pledged against loans
Bank
Indian Bank, Mahabubabad branch
Employees suspected
Assistant manager Bhukya Raju and five other employees
Discovery
During an audit on Tuesday
Recovery
Portion of gold recovered from Bhukya Raju's residence
Other lead
Some gold reportedly pledged to Manappuram Gold Loan
Investigation
Case registered by Town Circle Inspector Raghupathi Reddy

Sources

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