Sambalpur: Questions Raised Over the Security Arrangements of Manappuram Gold Loan Company in Sambalpur!

The Robbery Incident

Sambalpur: A shocking robbery took place at the Manappuram Gold Loan branch in Sambalpur, leaving more than 5,000 customers worried about their pledged gold. The company’s famous slogan, “Why cry when you have gold at home?” now feels ironic as many affected customers are left distressed.

Hundreds of customers gathered at the branch seeking answers about the fate of their pledged gold. However, the staff’s vague reassurances did little to calm their fears. Meanwhile, the Sambalpur police have begun investigating the incident using CCTV footage and other evidence. Four special investigative teams have been sent to other states to track down the culprits. Sambalpur Police Superintendent Mukesh Kumar Bhamu expressed confidence in solving the case soon.

Gold as a Lifeline for Middle and Lower-Class Families

For many middle- and lower-class families, gold is not just a luxury but their only financial security. When unexpected expenses arise, these families often pledge their gold to secure loans. Manappuram Gold Loan became a preferred option for such individuals, offering loans up to Rs. 40,000 per 10 grams of gold with an annual interest rate of 26%.

However, no one imagined that their secured gold would fall into the hands of robbers.

Real-Life Stories of Affected Customers

Sona Devi:
Sona Devi from Bareipali pledged 3.5 tolas of gold last year to cover her husband’s medical expenses. Her pledged items included three pairs of earrings, two nose pins, two rings, and a mangalsutra. She borrowed Rs. 1.26 lakh but had repaid 80% of the amount, including interest. With her daughter’s wedding just two months away, she had planned to clear the remaining loan and retrieve her jewelry. Sadly, she arrived at the branch only to learn about the robbery. Now, she feels helpless and unsure about her next steps.

Babita Binet:
Babita Binet, a sanitation worker from Thelkopada, shared her ordeal. She had pledged one tola of gold in November 2023, borrowing Rs. 39,000 to meet urgent expenses. Though struggling financially, she had been repaying her loan in small monthly installments. Now, after the robbery, she feels that her hard-earned gold and money have both vanished.

Ambika Mishra:
Ambika Mishra from Ramji Mandir Pada had pledged 4.5 tolas of gold, including family heirlooms such as a gold necklace, nose pins, bangles, and rings. She borrowed Rs. 1.62 lakh during a financial crisis. Since then, she had been consistently paying interest for the past 11 months. However, after the robbery, she is devastated, questioning how she will recover her precious family heirlooms.

Security Lapses Raise Serious Questions

The robbery revealed serious security failures at the Manappuram Gold Loan branch in Sambalpur. Despite storing around 30 kg of gold worth Rs. 20 crore, the branch lacked even a single security guard. Though a siren system was in place, it could be easily disabled. Customers are now questioning how such a massive quantity of gold could be stored without proper security measures.

Delayed Reporting Raises Doubts

The robbery occurred at around 9:40 AM, but the branch officials delayed reporting the incident until 11:30 PM. Senior police officers, including the IG and SP, arrived earlier for the investigation. However, the formal complaint was only lodged after senior company officials from the state headquarters arrived. This delay and the unusually high quantity of gold stored in a small branch have raised suspicions among customers.

Company Promises Compensation

Following the robbery, Manappuram Gold Loan issued a press statement. The company estimated that gold worth Rs. 20 crore was stolen. Assuring customers, the statement promised that all affected customers would receive appropriate compensation for their pledged gold.

The investigation continues, with everyone hoping for a swift recovery of the stolen gold and justice for the affected families.