Superintendent of Police, Narendra Kumar Singh said Md Isreal Sheikh, a resident of Sahebgunj district, was arrested from Majhgaon and Rs 1.49 lakh recovered from him.
Sheikh, stated to be a member of an inter-state gang, told the police that altogether 11 persons were involved in the incident, Singh said.
The other 10 including the kingpin Azrul Sheikh, who was a resident of Rajmahal in the state, have been identified and raids were being conducted to apprehend them.
Besides, they were also involved in other bank loot incidents occurred in the adjoining states, he said.
The gang members had used a gas cutter to open the chest after breaking open a window grill to enter the bank.