According to police, the victim, C Satyanarayanan, a businessman by profession, had gone to a Syndicate Bank branch in the heart of the city to deposit the cash when the incident took place.
"While Satyanarayanan was standing near the cash counter, the youths entered the bank and stood behind him in the queue. One of the accused told the victim that some of his cash has fallen on the floor.
"When he started looking for it, one of the youths took his cash kept on the counter and quietly left the place, while the other accused kept the victim engaged in talks for some time. Only when all of them left the place, he realised that his money has been stolen," said Pramod Wagh, Inspector at Shirdi Police Station.
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