Two armed robbers today looted Rs 18 lakh right outside a private bank here when the cash was being taken inside to be deposited, police said.
The heist took place outside the bank's branch at Barewal on the Ludhiana-Ferozepur road.
As two employees of a service providing company alighted from a van to deposit the cash in the bank branch, one of the robbers, who was waiting outside with his accomplice, scuffled with them, the police said.
They snatched the bag containing Rs 18 lakh at gun point and then fled in a car which had some more of their accomplices sitting inside, the police added.
The robbers could not be identified and the police were analysing the recordings of the CCTV cameras installed outside the bank premises, an official said.