Dhenkanal, Nov. 21: Criminals have looted Rs 1.15 crore in cash - all in scrapped Rs 1,000 and Rs 500 denomination notes - from the Odisha Gramya Bank branch in the town.

Police are puzzled because the criminals did not touch the new denomination notes. The bank had Rs 8 crore cash stored in three boxes. The robbers opened one trunk and took away the old notes last night, police said.

Following a complaint by the bank authorities, a case was registered at Town police station here today.

But, the police remain clueless as to why the criminals have taken away the old notes at a time when people across the country are dumping the scrapped currencyin banks.

Bank manager N.K. Sahu said: "This morning, when we reached here to open the branch, we found the door was opened and the locks broken. The culprits broke open 13 locks in the bank before they looted the cash from the strong room. They also destroyed the alarm system while committing the crime. They looted Rs 90 lakh in Rs 1,000 denomination notes and rest were of Rs 500 denomination currency. The total cash stolen was Rs 1,15,50,000. We immediately informed the police, who reached soon for investigation."

A team, led by police superintendent Basanta Kumar Panigrahi, rushed to the spot and began investigation into the incident. They have also examined the CCTV footage. They have also launched a manhunt to nab the culprits.

"The strong room lock was found broken. The criminals looted Rs 1,15,50,000 in cash and left some money in the bank. The bank alarm did not work at that time. However, the closed-circuit television (CCTV) cameras were functioning. We are examining the CCTV footage to get information about the culprits," said Panigrahi. He also said it seemed there was adequate security in place at the bank. However, the alarm did not work during the crime.

People had deposited old notes in the bank after the Union government's demonetisation move on November 8.