A sum of Rs 14.50 lakh, part of the looted amount, was also recovered from the accused, police said here.
Police Commissioner Jatinder Singh Aulakh told reporters that four accused identified as Sandeep, Jagdeep Singh, Buta Singh and Malkeet Singh have been arrested in connection with the bank robbery which took place on February 9.
Four pistols and 103 live cartridges along with a car used in the crime was also recovered from them, he said.
Four unidentified armed persons had robbed over Rs 21 lakh from Ramdas village branch of Punjab National Bank here in broad daylight on February 9.