Two men were arrested on Wednesday within four hours of looting Rs 50 lakh from bank officials at Nabha in Punjab's Patiala district, police said.

The accused have been identified as Jagdev Singh (35) and Amanjit Singh (37), both residents of Sangrur. They were arrested from Sangrur district, SSP Mandeep Singh Sidhu said.

The two motorcycle-borne men looted the cash from officials of a nationalised bank at Nabha in Patiala district on Wednesday morning by brandishing a gun.

A security guard of the bank's Anaj Mandi branch was injured after the miscreants open fired at him. The guard, Prem Chand (52), succumbed to the bullet injuries at a local hospital, the Patiala SSP said.

The double barrel gun of the security guard, which was snatched by the accused, has been recovered, police said.

Sidhu alleged that the banks have not been following police instructions despite being asked several times to inform police before transferring cash in large amount.

Director General of Police (DGP) Suresh Arora has announced a reward of Rs 1 lakh for the Patiala Police for solving the case quickly.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)