An unidentified youth with covered face demanded the money from the accountant Luxmi Narayan, who had withdrawn Rs 1.70 lakh from New Grain Market Branch of a bank, when he resisted, the youth shot at him, police said.
When the assailant was trying to escape on his motorcycle, Munish tried to stop him, but he shot him as well.
Both Munish and Luxmi Narayan were rushed to a hospital where Munish died, police said.
Meanwhile, agitated Commission agents of the Grain Market blocked traffic on the Chandigarh-Hisar Highway, police said.
The protest ended after senior administrative and police officers assured of arresting the accused soon.
A case was registered and a man hunt has been launched to nab the criminal, they added.