The gang, with probably three or four members, is accused of looting cash to the tune of Rs 3.5 lakh in three different acts of theft in the town. All three instances took place in crowded banks in broad daylight in the last fortnight.

Dilip Makwana, son of insurance agent A B Makwana, was shocked to find that cash amounting to Rs 1.5 lakh was nowhere to be found seconds after he had placed them on the cash counter of the LIC office in Morbi on Saturday.

In a complaint filed with the Morbi police, Makwana said he had placed the bundles of notes, wrapped in cloth, on the counter and went to fill up a cheque. But seconds later, he realised that the notes were missing.

Makwana said he had come to the LIC office to file premium of various clients. This is the third such incident reported from Morbi town in the last fortnight.

Two other cases in the last 15 days had a similar modus operandi. The police are once again suspecting the involvement of the all-women gang, which has wreaked havoc through their sophisticated ways of stealing.

The involvement of the gang came to light with a CCTV recording of the Bank of India branch. The footage showed three women decamping with a cash-loaded bag of a customer from the bank premises in broad daylight.

“A uniform modus operandi in all the three cases in Morbi town in the last 15 days points to the involvement of a single gang,” the police said.

They have only accepted the application of Makwana and begun the investigation, they added. No FIR has been lodged in this case.

However, FIRs had been lodged in the earlier two cases, one involving loot of cash to the tune of Rs 50,000 from a branch of Bank of Baroda and another involving loot of cash, amounting to Rs 1.3 lakh from a Bank of India branch.