Customers who pledged gold at Canara Bank’s Hinkal branch in Mysuru have alleged serious fraud after discovering weight loss and alterations in their jewellery, triggering an FIR and a police investigation.\
A serious allegation of gold loan fraud has emerged from Canara Bank’s Hinkal branch in Mysuru, leaving customers shocked and angry. Several customers who had pledged gold ornaments with the bank have accused officials and a gold appraiser of cheating them by tampering with their jewellery and reducing its weight.
The issue came to light when customers redeemed their pledged gold and later checked the ornaments at home. In one case, a customer named Gayathri discovered that her gold chain, which weighed 19 grams at the time of pledging, had reduced to just 16 grams after release.
Further inspection revealed disturbing changes in the jewellery. Although the overall weight marking appeared unchanged, the physical structure of the chain had been altered. The number of gold beads in the chain had reduced from 85 to 77, leaving the customer shocked. The chain was also reportedly damaged, with links cut and rewelded, making it unfit to wear.
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Customers allege that the fraud was carried out during the gold verification process inside the bank. The accused is Ashwin, a goldsmith engaged to assess pledged gold at the branch. Angry customers have accused Ashwin of cheating them by manipulating gold ornaments during inspection.
Following complaints, customers demanded that bank officials return their original gold. The situation escalated after NewsFirst aired a report highlighting the alleged fraud. Soon after the broadcast, police registered an FIR against Ashwin at the Vijayanagar Police Station in Mysuru.
NewsFirst has also accessed a video purportedly showing gold ornaments being welded, strengthening allegations of tampering. Meanwhile, customers continued to gather at the bank even today, demanding answers and justice.
Bank staff were seen closing the branch doors and calling customers inside one by one to recheck pledged gold. The bank management has assured customers that an internal review is underway and requested time to identify how the issue occurred and who is responsible.
However, the bank manager declined to give an on-camera response. During the coverage, security personnel allegedly stopped the NewsFirst camera crew from entering the bank premises.
Customers have also accused bank staff of colluding with the gold appraiser in the alleged scam. Police have begun investigating the matter, focusing on the weight discrepancy, altered jewellery structure, and the role of those involved.
The case has raised serious concerns about the safety and transparency of gold loan processes in banks, with customers demanding strict action and safeguards to prevent such incidents in the future.