Munshi was reportedly caught by the bystanders and handed over to the police.
The incident took place at about 100 metres from the scene of the crime and a PCR van arrived in about five to ten minutes, agency reports said.
Police said the victim and the accused knew each other although they were yet to confirm the reason behind the murder. They suspect the killing to be the result of personal enmity.
A massive uproar had rocked the national capital in December last year after a young medical student was brutally raped and assaulted in a moving bus after she and her companion boarded the vehicle to reach home. The woman succumbed to her injuries in a hospital in Singapore after two weeks. The trial of the six persons accused of killing her has been on the national focus.