In the first case, four armed militants entered the Wahibugh branch of Elaquai Dehati Bank around 1.50 PM and looted around Rs 3-4 lakh at gunpoint before fleeing, a police official said.
A police team rushed to the scene after the bank employees informed them of the incident. A hunt was launched to arrest the robbers and recover the money, the official said.
The second robbery took place at the Nehama branch of the Jammu and Kashmir Bank in Pulwama around 3.20 PM, the official said.
Militants have struck at bank assets four times in the past three days in south Kashmir.
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Yesterday, unidentified gunmen barged into Yaripora branch of the the Elaquai Dehati Bank that was struck today and took away Rs 65,000.
On May 1, militants attacked a cash van of the Jammu and Kashmir bank, targeted today as well, and shot dead five policemen and two bank security guards in Damhal Hanji Pora area of Kulgam district in south Kashmir.
The policemens and security guards were returning to the district headquarters after delivering cash at a bank branch.