The branch manager has claimed that 55 kg gold was looted, police said (Representational)

Armed dacoits barged into a branch of a gold loan provider in Bihar's Vaishali district on Saturday and stole over 50 kilogram of gold worth crores of rupees, police said.

The incident took place in the afternoon at the firm's branch in Cinema Road area under Town police station limits.

"Eight motorbike-borne miscreants held the employees of the company at gunpoint and beat up the guard and some staffers who put up a resistance," Inspector General of Police, Tirhut Range, Ganesh Kumar told reporters.

The branch manager has claimed that 55 kg gold was looted, he said.

"We are verifying the claim and have launched a manhunt," the officer said.

According to the rates in Bihar, a gram of 22-carat gold costs Rs 3,645 while 24-carat gold costs nearly Rs 200 more.