The Bihar Gramin Bank branch in Korthu, located in the Darbhanga district of Bihar, provides essential banking services to the local community. For anyone looking to send or receive money online through this branch, understanding its Indian Financial System Code (IFSC) is crucial. The IFSC code acts as a unique address for each bank branch, ensuring that funds transferred via National Electronic Funds Transfer (NEFT), Real-Time Gross Settlement (RTGS), or Immediate Payment Service (IMPS) reach the correct account without errors.
Branch Details
| Bank Name | Bihar Gramin Bank |
| Branch Name | Korthu |
| IFSC Code | PUNB0MBGB06 |
| MICR Code | 800811002 |
| Branch Code | MBGB06 |
| Branch Address | Korthu, DARBHANGA, 847103 |
| Contact Number | 9297955114 |
| City | DARBHANGA |
| District | DARBHANGA |
| State | Bihar |
Important Merger Update
Previously, Bihar had two regional rural banks: Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB). These two banks have now been merged into a single entity, now known as Bihar Gramin Bank. This new bank is sponsored by Punjab National Bank (PNB). As a result of this merger, all old IFSC codes belonging to the former UBGB and DBGB are no longer valid. For all transactions, customers must now use the new, unified IFSC code. The correct and current IFSC code for the Korthu branch is PUNB0MBGB06. Using an old code will lead to transaction failure.
What is an IFSC Code?
The IFSC code is an 11-character alphanumeric code that uniquely identifies a bank branch participating in the NEFT system. The Reserve Bank of India (RBI) assigns these codes to ensure the accuracy of electronic fund transfers. The code has a specific structure:
- First 4 Characters: These represent the bank’s name. For Bihar Gramin Bank, this is ‘PUNB’, which stands for its sponsor bank, Punjab National Bank.
- Fifth Character: This is always a zero (0). It is reserved for future use.
- Last 6 Characters: This part identifies the specific branch. For the Korthu branch, it is ‘MBGB06’.
How to Use the IFSC Code for Fund Transfers
Using the IFSC code for an online money transfer is straightforward. When you initiate a payment using your bank’s mobile app or internet banking portal, you will need to provide the following details of the person you are paying (the beneficiary):
- Beneficiary’s Full Name (as per their bank account)
- Beneficiary’s Bank Account Number
- Name of the Beneficiary’s Bank (Bihar Gramin Bank)
- Branch Name (Korthu)
- IFSC Code of the Branch (PUNB0MBGB06)
After adding these details, you can proceed with your NEFT, RTGS, or IMPS transaction. The system uses the IFSC code to route the payment directly to the Korthu branch.
Benefits of Using the Correct IFSC Code
- Accurate Transfers: It ensures your money is sent to the exact intended bank branch, eliminating routing errors.
- Faster Processing: Correct codes enable automated systems to process transactions quickly without manual intervention.
- Prevents Failed Transactions: Using an invalid or old IFSC code is a common reason for payments to be rejected or reversed.
- Transaction Security: It adds a layer of verification, confirming that the account number corresponds with the specified bank branch.
Contact Information
For direct assistance or inquiries, you can reach out to the branch or the bank’s head office.
- Korthu Branch Phone: 9297955114
- Korthu Branch Address: Korthu, DARBHANGA, Bihar – 847103
- Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
- Toll-Free Number: 18001807777
Frequently Asked Questions
1. What is the new IFSC code for the Bihar Gramin Bank Korthu branch?
The new and official IFSC code for the Korthu branch is PUNB0MBGB06. This code should be used for all NEFT, RTGS, and IMPS transactions.
2. Can I still use my old Uttar Bihar Gramin Bank (UBGB) IFSC code?
No. Following the merger of UBGB and DBGB, all old IFSC codes have been discontinued. Using an old code will result in your transaction being declined.
3. Why does the Bihar Gramin Bank IFSC code start with ‘PUNB’?
The first four letters of an IFSC code represent the sponsor bank. Since Bihar Gramin Bank is sponsored by Punjab National Bank (PNB), its IFSC codes start with ‘PUNB’.
4. What happens if I enter the wrong IFSC code?
If the IFSC code you enter does not exist, the transaction will likely be rejected immediately. If it corresponds to another branch, the funds could be sent to the wrong location, causing delays or requiring a lengthy process to recover the money.
5. Is the MICR code the same as the IFSC code?
No. The MICR (Magnetic Ink Character Recognition) code is a 9-digit code used for processing cheques, while the 11-character IFSC code is used for online fund transfers.
Kritti Kumari is a banker and MBA graduate who writes about banking, finance, and customer-friendly services. She simplifies complex financial products into easy guides, helping readers understand Bihar Gramin Bank’s offerings and make smarter money decisions.