The incident took place at Mirchaiya Chowk at around 11.30 AM as three unidentified men on a bike intercepted Arvind Kumar Mishra soon after he came out of the LIC office carrying with him a sum of Rs 16.87 lakh in a bag.
The men shot him thrice for putting up resistance before decamping with the booty, police said adding he was hospitalised.
Mishra was attacked while he was walking towards a private bank to deposit the cash after collecting it from the LIC office located on the other side of the road, he said.