The three miscreants, two with helmets and another with a mask on, barged into the Indian Bank branch when only one customer and two employees, including the branch manager and cashier, were present, said the police.
Another part-time employee had gone out for his lunch, they said.
After one of the miscreants snatched the mobile phone of the customer and cornered him, others asked the manager and cashier to open the cabin of the counters and strong room brandishing swords.
The miscreants left the branch after locking the outside gate, the manager said.
Senior police officers, including SP (Ganjam) Narsingh Bhol, rushed to the spot.
"We suspect involvement of local miscreants in the incident," said the SP adding, the police have launched a manhunt to nab the looters.