The East Delhi Police on Monday claimed to have cracked last week's robbery from a bank in East Delhi.
The police said they have arrested four people and recovered a major part of the money.
On December 8, five armed men robbed Rs 7.39 lakh from Development Credit Bank in Mayur Vihar by holding the staff hostage at gunpoint. The entire robbery took place in three minutes, the police said.
The police have identified the alleged robbers as Shiv Prakash, Sachin Kumar, Pradeep Kumar and Vipin Mavi, who is the gang leader.
Apart from Rs 5.17 lakh in cash, one country-made pistol with two live cartridges, a button-activated knife and two motorcycles they had used in the robbery were also recovered from them, the police claimed.
Police said the men were caught from Nawalgarh in Rajasthan, where they were hiding.
The police said Mavi confessed to have done a recee of the bank four days before they robbed it. He reportedly told the police that he got basic information about the bank from his informers.
"Mavi also confessed to his involvement in another dacoity that took place earlier this year in Harsh Vihar police station area. He and his gang members were nabbed after information came that they had recently come out of jail and allegedly committed a dacoity in Harsh Vihar," said Additional Commissioner of Police Anand Mohan.
Mohan said through CCTV footage of the bank, it was verified that the physical features and the build of the dacoits were similar to the members of the Vipin Mavi gang.
"Investigation is in progress and efforts are being made to recover the rest of money and arrest the fifth accused and the person who had supplied information about the bank," said Mohan.