Pawan Kumar was on his way to Sitamarhi town on a bike with his cousin when the assailants intercepted him near Jaubarari village and shot at him from close range, the Deputy Superintendent of Police M N Upadhyaya said.
The body has been brought to Sadar hospital for post-mortem, he said.
The motive behind the ex-PACS chairman's murder was under investigation even as his kins have alleged that he was threatened by another candidate during election of the cooperative body last month, Upadhyaya said.