Superintendent of Police Kumar Eklay said four miscreants on two motorcycles accosted an employee of a private finance company and looted Rs 6.96 lakh cash with the help of arms.
The employee was on way to a bank branch on his motorcycle in Pipra to deposit the cash when the miscreants accosted him on Pipra-Triveniganj road under Pipra police station area.
Raids are being conducted to nab the miscreants, the SP added.