Thieves have been able to loot Rs. 4.37 Crore cash and ornaments worth Rs 1.65 crore on Sunday from a branch of the Belagavi District Credit Cooperative Bank (BDCC) Murgod branch.
As per the police, there are no signs of breaking into the bank, which means they used a duplicate key to make entry into the bank.
The thieves also took the CCTV DVR along with them.
The Murgod police have registered a complaint and are investigating the matter.
Police claim that the dacoity happened around 4 AM on Sunday.
Normally a watchman is on duty 24 x 7 but on sunday the said watchman did not turn up for duty.