Bihar Gramin Bank ITASAN IFSC Code

This article provides key details for the Bihar Gramin Bank branch located in ITASAN, Nalanda district, Bihar. Understanding the Indian Financial System Code (IFSC) is crucial for anyone making digital fund transfers. Whether you’re sending money through National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS), or Immediate Payment Service (IMPS), the correct IFSC code ensures your funds reach the intended recipient’s bank account accurately and without delay.

Branch Details

Bank Name	Bihar Gramin Bank
Branch Name	ITASAN
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	6985
Branch Address	ITASAN, Nalanda, 803119, 7070196985
Contact Number	7070196985
City	Nalanda
District	Nalanda
Reason	BIHARSHARIF
Pincode	803119
State	Bihar

Merger Update

Over time, many regional rural banks in Bihar have consolidated to form larger, more efficient entities. Both the Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB) were part of such mergers. They, along with other rural banks, have now become part of the larger Bihar Gramin Bank structure. This new unified bank operates under the sponsorship of Punjab National Bank.

As a result of this consolidation, all branches of Bihar Gramin Bank now use new IFSC codes. These codes start with “PUNB” because Punjab National Bank is the sponsor. The IFSC code for the ITASAN branch, PUNB0MBGB06, is an example of this new standard. It’s important to know that any old IFSC codes previously associated with UBGB or DBGB branches are now invalid. For any financial transaction with Bihar Gramin Bank branches, including ITASAN, you must use the new, updated IFSC code. This ensures your transactions are processed correctly.

What is IFSC Code?

The IFSC (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.

Here’s how the 11 characters are structured:

• The first four characters represent the bank name. For instance, “PUNB” in PUNB0MBGB06 stands for Punjab National Bank, the sponsor bank for Bihar Gramin Bank.
• The fifth character is always a zero (0). This character is kept as a control measure and for future use.
• The last six characters identify the specific branch. In PUNB0MBGB06, “MBGB06” uniquely identifies the ITASAN branch of Bihar Gramin Bank.

How to Use IFSC Code

You will need the IFSC code whenever you want to transfer money electronically from one bank account to another within India. Here’s a simple guide for common transfer methods:

• For NEFT (National Electronic Funds Transfer):

  Log in to your internet banking portal or mobile banking app. Select the NEFT option. You will need to add the beneficiary (the person you’re sending money to). This involves entering their name, account number, bank name, and the correct IFSC code of their branch.

• For RTGS (Real Time Gross Settlement):

  Similar to NEFT, access your online banking. Choose RTGS for larger value transactions. You will provide the beneficiary’s name, account number, bank name, and their branch’s IFSC code. RTGS transactions are processed individually and in real-time.

• For IMPS (Immediate Payment Service):

  IMPS allows instant money transfers, even on holidays. You’ll typically use your mobile banking app. You will need the beneficiary’s account number and the IFSC code of their branch. Some IMPS services also allow transfers using a mobile number and MMID (Mobile Money Identifier).

Always double-check the IFSC code and other beneficiary details before confirming a transfer to avoid errors.

Benefits

Knowing and using the correct IFSC code offers several advantages for financial transactions:

• Accurate Transfers: It ensures your money goes to the correct bank and branch, preventing misdirected funds.
• Faster Processing: Correct IFSC codes help banks process electronic transfers quickly, often within minutes.
• Essential for Online Banking: It’s a mandatory requirement for initiating any NEFT, RTGS, or IMPS transaction through internet or mobile banking.
• Reduces Manual Errors: By standardizing bank and branch identification, it minimizes human error in financial transactions.
• Enables Pan-India Transfers: The system allows seamless electronic money transfers between any two IFSC-enabled bank branches across India.

Contact Section

If you need to get in touch with the Bihar Gramin Bank, ITASAN branch, or the head office, here are the details:

• Branch Phone Number: 7070196985
• Branch Address: ITASAN, Nalanda, 803119, 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 IFSC code:

Q1: Is the IFSC code the same for all Bihar Gramin Bank branches?
A1: No, the IFSC code is unique for each specific branch. While the first few characters (like PUNB0MBGB) might be common across many branches of Bihar Gramin Bank due to the merger and sponsor bank, the last six characters are unique to each individual branch. For the ITASAN branch, it is PUNB0MBGB06.

Q2: Why does the IFSC code for Bihar Gramin Bank ITASAN start with “PUNB”?
A2: “PUNB” indicates Punjab National Bank. Bihar Gramin Bank operates under the sponsorship of Punjab National Bank, which is why their IFSC codes begin with the sponsor bank’s identifier.

Q3: Can I use an old IFSC code for a former Uttar Bihar Gramin Bank (UBGB) or Dakshin Bihar Gramin Bank (DBGB) branch?
A3: No, after the merger and consolidation into Bihar Gramin Bank, all old IFSC codes for UBGB and DBGB branches have been revoked and are no longer valid. You must use the new, updated IFSC code for any transactions with Bihar Gramin Bank branches.

Q4: What happens if I use an incorrect IFSC code for a transaction?
A4: If you use an incorrect IFSC code, your transaction will likely fail. The banking system relies on the precise IFSC code to route funds, so a mismatch will prevent the transfer from completing successfully. Always verify the code before initiating a transfer.

Q5: Do I need an IFSC code for cash deposits or withdrawals at a Bihar Gramin Bank branch?
A5: No, an IFSC code is generally not required for physical cash deposits or withdrawals directly at a bank branch. It is primarily used for electronic fund transfers like NEFT, RTGS, and IMPS when you’re sending money between different bank accounts.