Bihar Gramin Bank PARASIYA IFSC Code

The Bihar Gramin Bank branch in Parasiya is located in the Bhojpur district of Bihar. For anyone looking to send or receive money electronically to an account at this branch, the Indian Financial System Code (IFSC) is essential. This unique 11-character code identifies the specific bank branch involved in online transactions, including National Electronic Funds Transfer (NEFT), Real-Time Gross Settlement (RTGS), and Immediate Payment Service (IMPS). Using the correct IFSC ensures that your funds are routed accurately and without delay.

Branch Details for Bihar Gramin Bank, Parasiya

Bank Name	Bihar Gramin Bank
Branch Name	PARASIYA
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	MBGB06
Branch Address	PARASIYA, Bhojpur, 802158, 9771464066
Contact Number	9771464066
City	Bhojpur
District	Bhojpur
Region	ARA
Pincode	802158
State	Bihar

Important Update on Bank Merger

Bihar Gramin Bank was formed by the merger of two former regional rural banks: Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB). This merged entity is now sponsored by Punjab National Bank (PNB). As a result of this consolidation, all old IFSC codes belonging to UBGB and DBGB branches have been discontinued and are no longer valid for any transactions. All branches of Bihar Gramin Bank now use a new set of IFSC codes that start with the prefix ‘PUNB’, reflecting their sponsorship by PNB. It is critical to use only the new, updated IFSC code for all fund transfers to avoid transaction failures.

What is an IFSC Code?

The Indian Financial System Code (IFSC) is an 11-character alphanumeric code assigned by the Reserve Bank of India (RBI) to every bank branch participating in the electronic funds transfer system. The code has a specific structure that helps route transactions correctly.

Let’s break down the Parasiya branch IFSC code, PUNB0MBGB06:

• PUNB: The first four letters represent the bank’s name. In this case, it signifies Punjab National Bank, the sponsor bank.
• 0: The fifth character is always a zero. It is reserved for future use.
• MBGB06: The last six characters form the unique branch identifier. This part distinguishes the Parasiya branch from all other branches of the bank.

How to Use the IFSC Code for Fund Transfers

Using the IFSC code for an online money transfer is a straightforward process. When you initiate a transaction through your bank’s net banking portal or mobile application, you will need to add the recipient (beneficiary) first. During this process, you will be asked for the following details:

1. Beneficiary’s Name (as per their bank account)
2. Beneficiary’s Account Number
3. Bank Name
4. Branch Name
5. The 11-digit IFSC Code of the beneficiary’s branch

Once you enter these details correctly, especially the account number and IFSC code, the system can precisely identify the destination branch. After adding the beneficiary, you can select them from your list, enter the amount you wish to transfer, and authorize the payment.

Benefits of Using the IFSC Code

• Transaction Accuracy: The code ensures that money is sent to the exact bank branch intended, eliminating routing errors.
• Enables Electronic Payments: It is a mandatory requirement for popular, fast, and secure payment methods like NEFT, RTGS, and IMPS.
• Reduces Manual Errors: By automating the branch identification process, it minimizes the risk of human error that was common with physical transactions.
• Faster Processing: Electronic transfers guided by IFSC codes are processed much faster than traditional methods like cheques or demand drafts.

Contact Information

For direct assistance, you can reach out to the branch or the head office.

• Parasiya Branch Contact: 9771464066
• Parasiya Branch Address: PARASIYA, Bhojpur, Bihar – 802158
• Bihar Gramin Bank Head Office: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

Frequently Asked Questions (FAQs)

Can I still use my old Dakshin Bihar Gramin Bank (DBGB) IFSC code?
No. All IFSC codes associated with the former Dakshin Bihar Gramin Bank and Uttar Bihar Gramin Bank are now invalid. You must use the new Bihar Gramin Bank IFSC code, which starts with ‘PUNB’, for all transactions.

Why does the Bihar Gramin Bank IFSC code start with ‘PUNB’?
The first four letters of the IFSC code represent the sponsor bank. Since Punjab National Bank (PNB) is the sponsor bank for Bihar Gramin Bank after the merger, the codes now begin with ‘PUNB’.

Is the IFSC code the same for all branches of Bihar Gramin Bank?
No, it is not. While the first four characters (‘PUNB’) are common, the last six characters are unique to each specific branch. Using the code for a different branch will cause your transaction to fail or be misdirected.

What might happen if I enter the wrong IFSC code?
If the incorrect IFSC code does not correspond to any valid bank branch, the transaction will be rejected and the money will be credited back to your account. In a rare case where the code matches another branch, the funds could be sent there, requiring a formal process to retrieve them.

Where can I find the correct IFSC code for my branch?
The most reliable places to find your branch’s IFSC code are on a cheque leaf from your chequebook, on the first page of your bank passbook, or on the official Bihar Gramin Bank website.