Police today arrested Shahrukh and Shanawaz, the assailants, said Additional Superintendent of Police Ramji Shrivastava.
The accused stabbed Zakir Bhopalwala (65) after he resisted their attempt to loot the cash. His son Murtaza (27) tried to intervene and was seriously injured.
Zakir died in a hospital while Murtaza was undergoing treatment and was now out of danger, the ASP said.
Meanwhile, members of Bohra community here staged a protest and kept the shops closed demanding action against the culprits.