New Delhi, Dec 8 (IANS) Five armed robbers looted Rs.700,000 from a bank in east Delhi in broad daylight Tuesday after holding the staff at gunpoint, police said.
Four men wearing helmets entered the Development Credit Bank in New Kondli in Mayur Vihar Phase-I at around 3.30 p.m. One of the robbers was already present inside the bank, a police official said.

“They first snatched the rifle of the security guard and held him hostage. Including the bank staff, there were seven people in the bank at the time of the incident. The robbers were carrying country made pistols and held everyone hostage,” the officer said.

“They collected the cash and left. All happened within minutes, giving no time to people to react,” he added.

The police said there were no close circuit cameras installed in the banks.

“Since the bank is close to the Delhi-Noida border, we are coordinating with the Uttar Pradesh police to nab the accused,” the officer added.

The police said involvement of an insider could not be ruled out in the robbery.