Two unidentified looters on Wednesday snatched away a cash bag containing around `2.99 lakh from an elderly person from near the Allahabad Bank main branch here.
The miscreants snatched away the bag from Shyam Sundar Sakunia, owner of a medical store, while he was climbing the staircase of the bank to deposit the money.
Though Sakunia resisted, one of the miscreants pushed him down and snatch away the bag. He then went away with his friend who was already waiting outside on a motorbike, police said.
Meanwhile, police have launched a manhunt to nab the miscreants after sealing all the entry points to the town, said Jharsugda SDPO BK Nanda.