Palghar (Maharashtra),  In a shocking incident, an Axis Bank Branch Manager allegedly committed an unsuccessful heist on the ICICI Bank and stabbed a deputy branch head there to death, police said here on Friday.

The incident happened late on Thursday around 8.00 p.m., after the close of banking hours at the ICICI Bank's Virar East Branch.

According to Virar Police Station Senior Police Inspector Suresh Warade, the accused Anil Dubey -- the Naigaon Axis Bank Branch Manager, who was a former longtime employee of ICICI Bank, has been arrested.

In the scuffle that ensued between Dubey and the ICICI Bank Deputy Manager Yogita Nishant Choudhary, and her cashier colleague Shraddha Devrukhkar, he allegedly stabbed them both before attempting to flee with the bag full of the looted booty, but was caught outside by the locals.

While Vartak, 36, succumbed to her injuries later, Devrukhkar, 32, is undergoing treatment at a local hospital and further probe is on in the sensational case, said Warade.