I am completely with @Munjibunga on this one. In fact there are far more decent and honest people than otherwise. They are typically not as vocal so they seem to be in minority. Retrace your steps. Talk to the local authority. Some good soul may have already left it with a policeman.
I went to 2 police stations in the area and searched on the streets for one mile with my bike. Also looked inside the waste containers hopping that someone just took the money and got rid of the wallet.
I will wait for 2 days (as advised in the police station) and then I start all the procedures for new papers and cards.