lakh rupees by four motorcycle-borne youths, police said.
The incident took place this morning when the victim, Sardar Kashmir Singh, was returning from bank after withdrawing two lakh rupees and four miscreants on motorcycles started following him, a police spokesman said.
On reaching home Singh started taking out the money from his scooter when he was pushed by one accused while another accused snatched the cash from him, before fleeing from the spot.
Singh had recently taken voluntary retirement and had withdrawn the money for some work, police said.
The motorcycles of miscreants were without number plates, police said, adding, a case has been registered into the incident and investigations are underway.