Bihar Gramin Bank Sakatpur IFSC Code

The Bihar Gramin Bank branch in Sakatpur, located in the Darbhanga district of Bihar, serves as an important financial hub for the local community. When you need to send or receive money electronically, understanding the Indian Financial System Code (IFSC) for this branch is crucial. This unique code acts like a digital address, ensuring that your funds are transferred accurately and securely through services like National Electronic Funds Transfer (NEFT), Real-Time Gross Settlement (RTGS), and Immediate Payment Service (IMPS). It is essential for all inter-bank transactions within India.

Branch Details Table

Bank Name	Bihar Gramin Bank
Branch Name	Sakatpur
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	108026
Branch Address	Sakatpur, DARBHANGA, 847407, 9297955164
Contact Number	9297955164
City	DARBHANGA
District	DARBHANGA
Region	DARBHANGA
Pincode	847407
State	Bihar

Merger Update

The financial landscape for regional rural banks in Bihar has seen significant changes. Earlier, Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB) were distinct entities. These two banks have since merged to form the new unified entity, Bihar Gramin Bank. This merger means that all branches, including Sakatpur, now operate under a single, standardized IFSC code.

Specifically, the Sakatpur branch, under Bihar Gramin Bank, now uses the IFSC code PUNB0MBGB06. This code is issued under the sponsorship of Punjab National Bank (PNB), which is the parent public sector bank for Bihar Gramin Bank. It is important to note that any old IFSC codes previously associated with UBGB or DBGB are no longer valid for transactions. To ensure successful and secure fund transfers, customers must exclusively use the new, active IFSC code, PUNB0MBGB06, for all future transactions.

What is IFSC Code?

The IFSC Code, or Indian Financial System Code, is an 11-character alphanumeric code. It uniquely identifies every bank branch in India participating in the NEFT, RTGS, and IMPS systems. Think of it as a unique address for a bank branch. The Reserve Bank of India (RBI) assigns these codes to facilitate smooth electronic fund transfers. Each part of the code tells you something specific about the bank and its branch.

• The first four characters identify the bank. For example, “PUNB” in PUNB0MBGB06 stands for Punjab National Bank, the sponsoring bank.
• The fifth character is always a ‘0’ (zero). This is kept as a control character for future use.
• The last six characters uniquely identify the specific bank branch. In our case, “MBGB06” points to the Bihar Gramin Bank Sakatpur branch.

How to Use IFSC Code

Using the IFSC code is a straightforward process when you’re setting up an electronic fund transfer. Whether you’re sending money via NEFT, RTGS, or IMPS, you’ll need this code along with other beneficiary details. Here’s how it generally works:

For NEFT (National Electronic Funds Transfer):

NEFT is suitable for transferring any amount, typically processed in batches. You add a beneficiary by providing their name, account number, bank name, and the correct IFSC code. Funds are settled periodically throughout the day.

For RTGS (Real-Time Gross Settlement):

RTGS is designed for large-value transactions (minimum ₹2 lakhs) and processes transfers continuously in real-time. Similar to NEFT, you provide the beneficiary’s details, including the IFSC code. The funds are transferred almost instantly, as soon as the bank processes the request.

For IMPS (Immediate Payment Service):

IMPS offers instant, 24/7 fund transfers, even on holidays. You can use it via mobile banking or internet banking. You will need the beneficiary’s mobile number and MMID (Mobile Money Identifier) or their account number and IFSC code. This service is quick and convenient for smaller, immediate transfers.

In all these methods, if the IFSC code is incorrect, the transaction will likely fail or be held up, leading to delays and potential inconvenience. Always double-check the code before confirming a transfer.

Benefits of Knowing IFSC Code

Having the correct IFSC code for the Bihar Gramin Bank Sakatpur branch offers several key advantages:

• Accurate Fund Transfers: It ensures your money goes to the correct recipient bank and branch, preventing misdirection of funds.
• Faster Transactions: With the right code, electronic transfers like NEFT, RTGS, and IMPS are processed smoothly and quickly.
• Enhanced Security: The unique identification of each branch adds a layer of security to online banking transactions.
• Convenience: It simplifies the process of adding beneficiaries for future transfers, making repeated transactions easier.
• Required for Online Payments: Many online payment platforms and services require an IFSC code for bank-to-bank transfers.
• Access to Digital Banking: It’s a fundamental piece of information needed to fully utilize modern digital banking services.

Contact Section

Should you need to reach out to the Bihar Gramin Bank Sakatpur branch or its head office, here are the relevant contact details:

• Branch Phone Number: 9297955164
• Branch Address: Sakatpur, DARBHANGA, 847407, Bihar
• Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

FAQs

Here are some frequently asked questions about the Bihar Gramin Bank Sakatpur IFSC code and related services:

Q1: Is the IFSC code for Bihar Gramin Bank Sakatpur the same as other Bihar Gramin Bank branches?
A1: No, while the first few characters (PUNB0MBG) might be common for many Bihar Gramin Bank branches, the last six characters are unique to each specific branch. So, the Sakatpur branch’s IFSC code, PUNB0MBGB06, is distinct from other branches.

Q2: What should I do if my electronic fund transfer fails due to an incorrect IFSC code?
A2: If your transaction fails because of an incorrect IFSC code, the funds are typically reversed to your account within a few hours or one business day. You should re-initiate the transfer with the correct IFSC code, PUNB0MBGB06, and other beneficiary details to ensure it goes through successfully.

Q3: Can I find the IFSC code on my passbook or cheque book?
A3: Yes, the IFSC code is usually printed on the first page of your bank passbook and on individual cheque leaves provided by the bank. It’s a reliable place to confirm the correct code for your specific branch.

Q4: What is the difference between IFSC and MICR codes?
A4: Both are unique codes for bank branches but serve different purposes. The IFSC code (PUNB0MBGB06 for Sakatpur) is for electronic fund transfers (NEFT, RTGS, IMPS). The MICR code (800811002 for Sakatpur), or Magnetic Ink Character Recognition code, is a 9-digit numerical code primarily used for processing physical cheques efficiently and securely.

Q5: Is it safe to share my bank account number and IFSC code?
A5: Sharing your bank account number and IFSC code for receiving funds is generally safe, as these details are necessary for someone to send money to you. However, you should never share your ATM PIN, CVC, OTPs, or full debit/credit card details with anyone, as these can be used for fraudulent activities.