The rebel has been identified as Sanjay Yadav alias Yatin alias Mantri, who carried the bounty, Superintendent of Police Bhimsen Tuti told reporters.
He was the 'secretary' of 'sub-zonal commanders' of CPI (Maoist), Tuti said here.
Getting a tip-off that there was movement of Maoists in the forests of Kandebera under Palkot police station of the district, the Assistant Superintendent of Police (Operation) headed the security personnel comprising CRPF's 218 Battalion and district police and launched a search operation, the SP said.
One carbine, one pistol, 56 bullets, Rs two lakh cash, Naxal literature were among the materials recovered from the spot, Tuti said.
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