Patna, Dec 6 : Five armed robbers on Wednesday looted Rs 16 lakh at gunpoint from Axis bank in Bihar's Arrah city. The incident occurred around 10 .15 am, soon after the bank opened for the day. District SP, ASP, DSP and SHOs of Nawada police station reached the spot and investigation is underway. "Around 10.15 a.m, five armed robbers entered the bank and held the employees hostage at gunpoint. The robbers locked up bank employees in one room and took away Rs 16 lakh from the cash counter in four minutes," said an official spokesperson of Bhojpur police. "The district police, headed by SP Pramod Kumar, also reached the spot in 10 minutes and investigated the matter. They have scanned the CCTV footage wherein the faces of criminals are visible. We have constituted a dedicated team to nab the accused," he said. /IANS