The president of LAMPS of Pusalota village, Motia Boipai and Ramesh Khandai (cashier) were returning to Pusalota on a motorcycle after withdrawal of the amount from Chakradharpur Co-operative bank when two miscreants intercepted them near Padampur and looted the amount at gun point, police said.
The amount was to be distributed as old age pension through LAMPS, sources said.
Police said a FIR has been lodged in this regard while massive hunt was on to nab the culprits.
