The heist came to light today after employees of both the branches reported to work and found the cash chests and lockers opened.
The bank was closed yesterday on account of Sunday.
While gold ornaments weighing 16 kg were found stolen from one branch, ornaments weighing 18 kg were found stolen from another, police said.
"A total of 34.21 kg gold ornaments and Rs 21 lakh in cash, collectively worth around Rs 9 crore, were stolen from cash chests and lockers in banks," Bhoopalpally Circle Inspector Bhoopalpally Raghunandan told PTI.
Special teams have been formed to probe the case, he said.