Bihar Gramin Bank MAGADH MEDICAL COLLEGE ROAD IFSC Code

This article focuses on the Bihar Gramin Bank branch located on MAGADH MEDICAL COLLEGE ROAD in Gaya, Bihar. When you need to transfer money electronically, whether through NEFT, RTGS, or IMPS, having the correct Indian Financial System Code (IFSC) for the recipient’s bank branch is essential. This unique code ensures your funds reach the intended account accurately and quickly.

Branch Details

Here are the complete details for the Bihar Gramin Bank branch on MAGADH MEDICAL COLLEGE ROAD:

Bank Name	Bihar Gramin Bank
Branch Name	MAGADH MEDICAL COLLEGE ROAD
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	6878
Branch Address	MAGADH MEDICAL COLLEGE ROAD, Gaya, 823001, 9523596878
Contact Number	9523596878
City	Gaya
District	Gaya
Reason	GAYA
Pincode	823001
State	Bihar

Merger Update

For customers of Bihar Gramin Bank, it is important to understand the bank’s history and its current IFSC code structure. Earlier, there were two separate rural banks: Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB). These two banks merged to form Bihar Gramin Bank.

Today, Bihar Gramin Bank operates under the sponsorship of Punjab National Bank (PNB). This means that all its branches, including the MAGADH MEDICAL COLLEGE ROAD branch, now use a unified IFSC code structure that begins with “PUNB”. The specific IFSC code for this branch is PUNB0MBGB06.

It’s crucial to note that any old IFSC codes previously used for UBGB or DBGB branches have been revoked and are no longer valid for transactions. Always use the new, Punjab National Bank-sponsored IFSC code, PUNB0MBGB06, for any financial transfers to this branch.

What is an IFSC Code?

An IFSC Code is an 11-character alphanumeric code that uniquely identifies every bank branch in India participating in electronic funds transfer. This code is crucial for online money transfers. Let’s break down its structure:

• The first four characters are alphabetic and represent the bank’s name. For example, in PUNB0MBGB06, “PUNB” stands for Punjab National Bank, which is the sponsoring bank for Bihar Gramin Bank.
• The fifth character is always a zero (0). This character is reserved for future use and helps distinguish bank codes from branch codes.
• The last six characters are alphanumeric and represent the specific branch code. In PUNB0MBGB06, “MBGB06” uniquely identifies the MAGADH MEDICAL COLLEGE ROAD branch.

This unique combination ensures that your funds are directed to the correct bank and branch without any errors.

How to Use an IFSC Code

Using the IFSC code is a straightforward process when you’re making an online money transfer. Here’s how it generally works for different types of transactions:

1. For NEFT (National Electronic Funds Transfer):
   • Log in to your bank’s online banking portal or mobile app.
   • Select the “Fund Transfer” or “Payments” option.
   • Choose “NEFT” as the transfer type.
   • Add a new beneficiary if you haven’t transferred to them before.
   • Enter the beneficiary’s name, account number, account type (savings, current), and the IFSC code PUNB0MBGB06.
   • Specify the amount you wish to transfer and confirm the transaction.
2. For RTGS (Real Time Gross Settlement):
   • Similar to NEFT, access your online banking or mobile app.
   • Select “RTGS” as the transfer option.
   • Provide the beneficiary details including their name, account number, and the correct IFSC code PUNB0MBGB06.
   • RTGS is typically used for large value transactions, usually above ₹2 lakhs.
   • Enter the amount and complete the transfer.
3. For IMPS (Immediate Payment Service):
   • Open your bank’s mobile banking app.
   • Select “IMPS” for instant money transfer.
   • You will usually need the beneficiary’s Mobile Money Identifier (MMID) and mobile number, OR their account number and the IFSC code PUNB0MBGB06.
   • Enter the amount and authorize the transfer. Funds are transferred almost instantly, even on holidays.

Always double-check the IFSC code, account number, and beneficiary name before confirming any transfer to avoid errors.

Benefits of Knowing Your IFSC Code

Knowing the correct IFSC code for your bank branch, or the branch of someone you need to pay, offers several practical benefits:

• Facilitates Online Transfers: It is mandatory for all electronic fund transfers like NEFT, RTGS, and IMPS, making digital banking possible.
• Ensures Accuracy: The unique code directs funds to the exact bank and branch, minimizing the risk of funds going to the wrong account.
• Saves Time: With the correct IFSC, transactions are processed smoothly and quickly, without manual intervention or delays due to incorrect routing.
• Streamlines Bill Payments: Many online bill payment services and e-commerce platforms require an IFSC for direct bank transfers.
• Convenient for Receivers: If someone needs to send you money, providing them with your bank’s IFSC code makes the process easy for them.

Contact Information

If you need to get in touch with the Bihar Gramin Bank MAGADH MEDICAL COLLEGE ROAD branch or its head office, here are the details:

• Branch Phone Number: 9523596878
• Branch Address: MAGADH MEDICAL COLLEGE ROAD, Gaya, 823001, Bihar
• Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

Frequently Asked Questions

Here are answers to some common questions about IFSC codes and Bihar Gramin Bank:

Q1: Is the IFSC code the same for all branches of Bihar Gramin Bank?
A1: No, the IFSC code is unique for each specific branch. While the first four characters (PUNB) will be the same across all Bihar Gramin Bank branches due to its PNB sponsorship, the last six characters will differ to identify the individual branch. For the MAGADH MEDICAL COLLEGE ROAD branch, the full IFSC is PUNB0MBGB06.

Q2: What should I do if I use an old IFSC code for a transaction?
A2: If you use an old, revoked IFSC code (like those from former UBGB or DBGB), your transaction will likely fail. The bank system will reject it because the code is no longer valid. The funds will typically be returned to your account, but there might be a delay. Always ensure you are using the current, valid IFSC code for Bihar Gramin Bank branches.

Q3: Can I find the IFSC code on my bank passbook or cheque book?
A3: Yes, the IFSC code is typically printed on your bank passbook. It is also found on cheque leaves, usually at the top or bottom of the cheque. It’s a convenient way to verify the code.

Q4: What is the difference between IFSC and MICR codes?
A4: Both are important for banking. The IFSC (Indian Financial System Code) is an 11-character code used for online fund transfers (NEFT, RTGS, IMPS) to identify a specific bank branch. The MICR (Magnetic Ink Character Recognition) code is a 9-digit numerical code printed on cheque leaves using special magnetic ink. It’s primarily used for processing physical cheques and identifying the bank and branch for clearing purposes.

Q5: Is it safe to share my IFSC code with others?
A5: Yes, it is generally safe to share your IFSC code with others. The IFSC code only helps identify your bank branch for receiving funds; it does not provide access to your account or allow anyone to withdraw money. However, you should never share your account password, ATM PIN, or OTP (One Time Password) with anyone.