Arun Namta (35), who was an employee Telco Recreation club, was shot at by the money lender over Rs 40,000 he had advanced to the victim last night.
Injured Namta was immediately rushed to Telco Main Hospital where he succumbed to his injuries hours after he was admitted, police said.
The money lender was yet to be arrested.
Local residents up a road blockade in the main thoroughfare near Jemco this morning demanding immediate arrest of the culprit and adequate compensation to the victim's family.