Police said the robbers forced the driver to stop at gun point. (Representational)

Three unidentified men shot dead a guard and looted Rs eight lakh from a cash van headed for ATM in broad daylight in Madhya Pradesh's Gwalior on Saturday, police said.

The robbers stopped the van when it was on its way to deposit cash in the ATM of a private bank in City Centre area, Additional Superintendent of Police (ASP) Satyendra Singh Tomar said.

They forced the driver to stop at gun point. Security guard Ramesh Tomar, who was traveling in the van with a cashier, tried to raise his gun but the robbers shot him dead, the ASP said.

They then looted the cash and fled from the spot. Van driver Ranjit was injured as he was hit by gun pellets and admitted to a local hospital, the officer said.

Police were scanning CCTV footage from the area to identify and arrest the accused, he added.