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Friday, 24th July 2009 (961 views)

Valuable gold jewellery and ornaments worth 89 million rupees (£112,500) have been successfully recovered by Indian police following a bank heist.

The stolen gold, from the Kumta Chetana Co-operative Bank in the state of Karnataka, weighed just under 6 kg and was found with suspected robber Shrinanda Rama Naik.

Shrinanda was discovered by police in the house of his fiancee in the town of Doddathota.

Police in Karwar had collaborated with officers from Sullia police in Dakshina Kannada on the case.

The robbery had happened on the night of 22nd July.

Meanwhile, reports suggest that Indian banks are capitalising on the success of new gold deposit schemes.

Commodity Online says that the State Bank of India has collected 548 kg of gold since the scheme to encourage more consumers to store gold in its vaults launched two months ago.

A survey conducted by the bank said that the majority of those depositing gold in bank vaults tended to be individuals rather than large organisations.

 

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