According to N D Deshmukh, branch manager of the National Co-operative Bank in Nerul, four youths, aged between 25-30, entered the bank around 8.20 am (the bank opens at 8 am) without causing any suspicion as they were formally dressed.

“They posed as CBI sleuths and were dressed in formal clothes and tie,” said Deshmukh. “At that time there were 6 employees, including the security guard, and two customers in the bank,” he added.

“Soon after they entered the bank, they threatened us with chopper, scythe and a revolver. Of the four robbers, one was guarding the passage while the other was waiting outside the bank to keep a vigil. Two of them hit the cashier on head, causing him minor injuries, after he refused to hand over the cash to the robbers,” Deshmukh said.

The robbers collected cash amounting to Rs 11 lakh at gunpoint and fled after locking the employees and customers in the bathroom and the locker room.

It was only after one of the employees entered the bank that the police was informed about the incident. Deskmukh said, “We have insurance cover of Rs 11 lakh, therefore, we don’t keep cash exceeding this amount.”

Deputy Commissioner of Police (Zone I) R D Shinde said, “The Crime Branch is doing a parallel investigation in the case. We have also set up a special team to trace the robbers. Considering their modus operandi, we suspect that the accused have committed similar robberies earlier also. We are also investigating whether some gang is involved in bank robberies, and if any of the gang members, earlier involved in any such incident, is out on bail.”