Bihar Gramin Bank KATRISARAI IFSC Code

The Bihar Gramin Bank branch in Katrisarai is located in Nalanda, Bihar, with the Pincode 805105. When you need to transfer money electronically, whether through NEFT, RTGS, or IMPS, an IFSC code is crucial. This unique code acts like a digital address, ensuring your funds reach the correct bank branch without any errors. It guarantees a smooth and secure transaction process for all your digital banking needs.

Branch Details

Here are the key details for the Bihar Gramin Bank, Katrisarai branch:

Bank Name	Bihar Gramin Bank
Branch Name	KATRISARAI
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	7199
Branch Address	KATRISARAI, Nalanda, 805105, 9771464199
Contact Number	9771464199
City	Nalanda
District	Nalanda
Reason	BIHARSHARIF
Pincode	805105
State	Bihar

Merger Update

The banking landscape for Regional Rural Banks (RRBs) in Bihar has undergone significant changes through mergers. The original Bihar Gramin Bank, to which the Katrisarai branch belonged, has merged with Kosi Kshetriya Gramin Bank. This merger led to the formation of Madhya Bihar Gramin Bank, which is sponsored by Punjab National Bank (PNB).

As a direct result of this merger, all branches that were previously part of Bihar Gramin Bank, including Katrisarai, now operate under the new IFSC code structure. The code PUNB0MBGB06 specifically identifies the Katrisarai branch as part of Madhya Bihar Gramin Bank.

It is crucial to understand that all previous, old IFSC codes for the former Bihar Gramin Bank have been revoked. This applies to similar merged entities in the region too. Only the new, PNB-sponsored IFSC codes, like PUNB0MBGB06 for Madhya Bihar Gramin Bank, are currently valid and should be used for all financial transactions. Using an old or incorrect IFSC code will lead to transaction failure.

What is an IFSC Code?

An IFSC code stands for Indian Financial System Code. It is an 11-character alphanumeric code. This code is unique for each bank branch in India. It helps identify the exact destination for your electronic fund transfers.

Let’s break down the code PUNB0MBGB06 to understand its parts:

• The first four characters, PUNB, identify the bank. In this case, it signifies Punjab National Bank, which sponsors Madhya Bihar Gramin Bank.
• The fifth character is always a zero (0). This character is reserved for future use.
• The last six characters, MBGB06, identify the specific branch. Here, “MBGB” indicates Madhya Bihar Gramin Bank, and “06” is the unique code for the Katrisarai branch within this bank.

Understanding these parts helps you verify the code before making a transfer, ensuring your money goes to the correct place.

How to Use an IFSC Code

Using an IFSC code is straightforward when you are making online fund transfers. Here’s how it works for common transaction types:

• For NEFT (National Electronic Funds Transfer):

  NEFT transfers are processed in batches throughout the day. You will need the beneficiary’s name, their bank account number, the IFSC code (PUNB0MBGB06 for Katrisarai branch), the amount you want to send, and the type of account (savings or current).

• For RTGS (Real Time Gross Settlement):

  RTGS is for high-value transactions that are processed individually and in real-time. The information required is similar to NEFT: beneficiary’s name, account number, IFSC code (PUNB0MBGB06), and the transfer amount. Always double-check the details for RTGS due to the large sums involved.

• For IMPS (Immediate Payment Service):

  IMPS allows 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 bank account number and the IFSC code (PUNB0MBGB06).

Always input the IFSC code carefully. A single wrong digit can send your money to a different branch or even a different bank.

Benefits of Knowing Your IFSC Code

Knowing the correct IFSC code for your bank branch offers several important benefits for your financial activities:

• Accurate Fund Transfers: It ensures that your money reaches the intended beneficiary’s exact bank branch. This prevents delays or misdirected payments.
• Faster Processing: For systems like IMPS and RTGS, the IFSC code facilitates instant or near-instant processing, allowing quick access to funds.
• Enhanced Security: By uniquely identifying the destination branch, the IFSC code adds a layer of security to electronic transactions, reducing the risk of fraud.
• Convenience: It is essential for all online banking services, including net banking, mobile banking, and third-party payment apps, making digital transactions smooth and easy.
• Universal Standard: The IFSC is a standardized code across all banks in India, making inter-bank transfers efficient and reliable.

Contact Information

If you need to get in touch with the Bihar Gramin Bank (now Madhya Bihar Gramin Bank) Katrisarai branch or the head office, here are the details:

• Branch Phone Number: 9771464199
• Branch Address: KATRISARAI, Nalanda, 805105, Bihar
• Head Office Address (Madhya Bihar Gramin Bank): SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number (Punjab National Bank Sponsored RRBs): 18001807777

Frequently Asked Questions (FAQs)

Q1: What does IFSC stand for?

A1: IFSC stands for Indian Financial System Code. It’s a unique 11-character alphanumeric code used to identify bank branches for electronic money transfers.

Q2: Is the Katrisarai branch still called Bihar Gramin Bank?

A2: The original Bihar Gramin Bank merged with Kosi Kshetriya Gramin Bank to form Madhya Bihar Gramin Bank. So, while the branch was originally part of Bihar Gramin Bank, it now operates under the name and structure of Madhya Bihar Gramin Bank, sponsored by Punjab National Bank.

Q3: Can I transfer money without an IFSC code?

A3: For electronic fund transfers like NEFT, RTGS, and IMPS through internet banking or mobile banking, the IFSC code is mandatory. Without it, the system cannot correctly identify the beneficiary’s bank and branch, and the transaction will not go through.

Q4: What happens if I use a wrong IFSC code during a transfer?

A4: If you enter an incorrect IFSC code, your transaction will likely fail immediately and be rejected by the system. If by chance the incorrect code corresponds to a different valid branch and account number, your money could be transferred to the wrong recipient. Always double-check the IFSC code to prevent such errors.

Q5: Is PUNB0MBGB06 the only valid IFSC for Madhya Bihar Gramin Bank?

A5: No, PUNB0MBGB06 is the specific IFSC code for the Katrisarai branch. Madhya Bihar Gramin Bank has many branches, and each will have its own unique 11-character IFSC code, starting with “PUNB0MBGB” followed by specific characters for that particular branch.