Police officers said the incident happened when Rajdeo Prasad, an employee of one Pramod Traders at Gola Road, was returning after collecting money from various retailers.
"He was waylaid near Bagibardiha Crossing under Warsaliganj police station by armed miscreants while he was walking towards his office after alighting from a bus," said Warsaliganj SHO Raj Kumar.
The SHO said it seemed the criminals were waiting for him. They snatched his bag at gun point and decamped with the money. An FIR have been lodged in this connection.