The cashier Mohar Singh, along with driver Mohammad Mushtaq, had gone to Connaught Place in a car and withdrew the money from a bank and returned to Noida in the afternoon.
At Sector 6, two youths on a bike overtook them and forced the car to stop. They broke the car's window with a hammerand at gunpoint robbed the cash.
SP (City) Yogesh Singh said some known persons' involvement is suspected in the robbery.
Police teams have been formed to nab the robbers, he added.
Robbers could not be arrested till late evening.