The incident took place today afternoon on a stretch between Sangewadi and Khardi villages, said a police officer.
Amol Bhosle, manager of BOM's Sangola branch, was taking the cash, alongwith another employee, in his car for depositing it in the bank's Pandharpur branch.
When the car reached Sangewadi village, another car started following it, he told police.
It dashed Bhosle's car near Khardi village. As Bhosle stopped his car, four persons got down, broke the windscreen of Bhosle's car and flung chili powder in his and his colleague's eyes, the police officer said.
A complaint was registered at Pandharpur rural police station.
Among other things, police were also probing if any 'insider' was involved in the crime, the officer said.
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