Shrinanda Rama Naik (24) of Harita village in Kumta taluk has been arrested in this connection. The booty was recovered from him at Doddathota of Sullia taluk.
Addressing a press conference here on Thursday, Inspector General of Police (Western Range) Gopal Hosur said, accused Shrinanda had burgled Chetana Co-operative Bank at Kumta on June 22. He is also allegedly involved in two other theft cases.
Shrinanda was in the house of his fiancee at Doddathota when police traced him.
Karwar SP Raman Gupta formed four special teams headed by inspectors of Kumta, Honnavara, Ankola and the DCIB, who worked under the supervision of Bhatkal and Dandeli DySPs for solving the case.
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