The incident took place this morning when Manoj Kumar along with three others was going to a bank to deposit the cash in Mahuabad under Kotwali police station area, they said.
Three miscreants who came on a motorcycle shot at Kumar when he was going inside the bank following which they fled with the bag containing cash, police said.
Kumar succumbed to injuries while he was being rushed to a Varanasi hospital, they said, adding a case has been registered and investigations are on.