The cash was seized from a man travelling in a bus from Giridih to Dhanbad, near Barwadda area of Dhanbad district, around 240 km from Ranchi.
Police have launched search operations ahead of April 24 balloting for the Dhanbad Lok Sabha seat.
More than Rs.2 crore has been seized from various parts of the state during the election. Jharkhand has three-phased polling scheduled for its 14 seats. It has already voted April 10 and 17 for four and six seats, respectively.