Bihar Gramin Bank KHANDAKPAR IFSC Code

This article provides important details about the KHANDAKPAR branch of Bihar Gramin Bank, located in Nalanda, Bihar. Understanding the Indian Financial System Code (IFSC) for this branch is crucial for anyone needing to send or receive money through digital payment systems. The IFSC acts like a unique address for the bank branch, making sure your funds go to the right place when you use services like National Electronic Funds Transfer (NEFT), Real-Time Gross Settlement (RTGS), or Immediate Payment Service (IMPS).

Branch Details

Here are the key details for the KHANDAKPAR branch of Bihar Gramin Bank:

Bank Name	Bihar Gramin Bank
Branch Name	KHANDAKPAR
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	7171
Branch Address	KHANDAKPAR, Nalanda, 803101
Contact Number	9771464171
City	Nalanda
District	Nalanda
Reason	BIHARSHARIF
Pincode	803101
State	Bihar

Merger Update

Bihar Gramin Bank was formed from the merger of two regional rural banks: Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB). This merger took place to create a stronger, more efficient banking presence in Bihar. Following the merger, Punjab National Bank (PNB) became the sponsor bank for Bihar Gramin Bank.

Because of this merger and the change in sponsorship, the KHANDAKPAR branch, like all branches of Bihar Gramin Bank, now uses a unified IFSC code. The IFSC code PUNB0MBGB06 is the only valid code for this branch. If you previously used an IFSC code belonging to Uttar Bihar Gramin Bank or Dakshin Bihar Gramin Bank for this location, please note that those old codes have been revoked. Always use PUNB0MBGB06 for any electronic fund transfers to ensure your transactions are successful.

What is an 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. This code helps the banking system direct funds accurately to the intended branch.

The structure of the IFSC code PUNB0MBGB06 can be broken down as follows:

• The first four characters represent the bank code. In this case, PUNB stands for Punjab National Bank, the sponsor bank of Bihar Gramin Bank.
• The fifth character is always a zero (0). This character is reserved for future use by the Reserve Bank of India.
• The last six characters identify the specific branch. Here, MBGB06 points to the KHANDAKPAR branch of Bihar Gramin Bank.

How to Use the IFSC Code

You will need the IFSC code PUNB0MBGB06 when performing any electronic fund transfers to the Bihar Gramin Bank KHANDAKPAR branch. Here’s how it’s typically used:

• For NEFT (National Electronic Funds Transfer):

  When you initiate an NEFT transaction through your bank’s online portal or at a branch, you will need to add the beneficiary’s details. This includes their name, account number, account type (savings/current), and the IFSC code PUNB0MBGB06. The funds are transferred in batches during specific settlement times.

• For RTGS (Real-Time Gross Settlement):

  RTGS is typically used for large-value transactions (Rs. 2 lakh and above). Similar to NEFT, you will need the beneficiary’s name, account number, and the IFSC code PUNB0MBGB06. RTGS transactions are processed individually and in real-time, meaning funds are transferred almost immediately.

• For IMPS (Immediate Payment Service):

  IMPS allows for instant fund transfers 24/7, even on holidays. When using IMPS via mobile banking or internet banking, you will input the beneficiary’s mobile number, their MMID (Mobile Money Identifier), or their account number and the IFSC code PUNB0MBGB06 to complete the transaction immediately.

Benefits of Knowing the IFSC Code

Knowing the correct IFSC code for Bihar Gramin Bank KHANDAKPAR branch offers several important benefits:

• It is absolutely essential for all electronic fund transfers, including NEFT, RTGS, and IMPS.
• It ensures that your money is sent to the precise bank branch you intend, preventing errors and delays.
• It standardizes the process of inter-bank fund transfers across India, making transactions smooth.
• It helps in faster processing of your financial transactions, as the system can quickly identify the destination branch.
• It adds a layer of security by making sure funds are routed through the correct banking channels.

Contact Information

For inquiries related to the KHANDAKPAR branch or Bihar Gramin Bank, you can use the following contact details:

• Branch Phone Number: 9771464171
• Branch Address: KHANDAKPAR, Nalanda, 803101, Bihar
• Bihar Gramin Bank Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

Frequently Asked Questions (FAQs)

Q1: What is the IFSC code for Bihar Gramin Bank KHANDAKPAR branch?

A1: The IFSC code for the Bihar Gramin Bank KHANDAKPAR branch is PUNB0MBGB06.

Q2: Is the MICR code 800811002 still valid for the KHANDAKPAR branch?

A2: Yes, the MICR code 800811002 is still valid for cheque clearing processes at the KHANDAKPAR branch.

Q3: Can I use an old Uttar Bihar Gramin Bank (UBGB) or Dakshin Bihar Gramin Bank (DBGB) IFSC code for this branch?

A3: No, you should not use old UBGB or DBGB IFSC codes. Following the merger, only the new IFSC code PUNB0MBGB06 is valid for all electronic transactions to the Bihar Gramin Bank KHANDAKPAR branch.

Q4: What types of bank transactions require an IFSC code?

A4: An IFSC code is required for all major electronic fund transfer methods, including NEFT (National Electronic Funds Transfer), RTGS (Real-Time Gross Settlement), and IMPS (Immediate Payment Service).

Q5: What does ‘PUNB’ in the IFSC code PUNB0MBGB06 signify?

A5: ‘PUNB’ in the IFSC code stands for Punjab National Bank, which is the sponsor bank for Bihar Gramin Bank after the merger of Uttar Bihar Gramin Bank and Dakshin Bihar Gramin Bank.