Two persons on motor-bike snatched a bag containing Rs 5 lakh in cash from a man in Satana Naka area of Malegaon in Nashik district of Maharashtra today.
Ravindra Bedis, the complainant, had withdrawn the money from the Punjab National Bank and just stepped out of the branch when the incident took place, police said.
Bedis, an employee of MSEDCL, had taken a loan of Rs five lakh from a credit society for his daughter's medical couse expenses, and had encashed the loan cheque at the PNB branch.
Additional SP Rakesh Ola, DySP Gajanan Rajmane were supervising the probe. Police have collected CCTV footage of the area.
