Bihar Gramin Bank KHUDAGANJ IFSC Code

The Bihar Gramin Bank branch in KHUDAGANJ, located in the Nalanda district of Bihar, plays a crucial role in local financial transactions. For any electronic fund transfers like NEFT, RTGS, or IMPS, knowing the correct Indian Financial System Code (IFSC) for this branch is essential. This unique code acts like a digital address, ensuring that your money reaches the intended bank and branch quickly and accurately, whether you’re sending funds to family, paying bills, or managing business transactions.

Branch Details

Bank Name	Bihar Gramin Bank
Branch Name	KHUDAGANJ
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	7172
Branch Address	KHUDAGANJ, Nalanda, 801127
Contact Number	9771464172
City	Nalanda
District	Nalanda
Reason	BIHARSHARIF
Pincode	801127
State	Bihar

Merger Update

Bihar Gramin Bank was formed from the merger of two significant regional rural banks: Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB). Following this merger, all branches, including KHUDAGANJ, now operate under a unified structure sponsored by Punjab National Bank. Consequently, a new, standardized IFSC code has been adopted for all Bihar Gramin Bank branches.

The previous IFSC codes used by Uttar Bihar Gramin Bank and Dakshin Bihar Gramin Bank are no longer valid for transactions. For any fund transfers to or from the KHUDAGANJ branch, you must use the current IFSC code: PUNB0MBGB06. Using any old or revoked IFSC code will result in transaction failure, so always ensure you are using the correct and updated code.

What is IFSC Code?

IFSC stands for Indian Financial System Code. It is an 11-character alphanumeric code that uniquely identifies every bank branch in India participating in electronic payment systems. This code is crucial for online money transfers.

The structure of the IFSC code is specific:

• The first four characters represent the bank name. For PUNB0MBGB06, ‘PUNB’ stands for Punjab National Bank, the sponsoring bank.
• The fifth character is always ‘0’ (zero). This character is reserved for future use and remains constant across all IFSC codes.
• The last six characters identify the specific branch. For the KHUDAGANJ branch, ‘MBGB06’ is the unique identifier.

Understanding this structure helps you verify the details when making a transaction.

How to Use IFSC Code

Using the IFSC code is straightforward when initiating an electronic fund transfer. Here are the steps for common payment methods like NEFT, RTGS, and IMPS:

1. Log In: Access your bank’s internet banking portal or mobile banking application. If you prefer offline, visit your bank branch.
2. Select Transfer Type: Choose the type of transfer you wish to make:
   • NEFT (National Electronic Funds Transfer): Suitable for deferred net settlements, usually processed in batches.
   • RTGS (Real Time Gross Settlement): Ideal for high-value transactions, processed individually and in real-time.
   • IMPS (Immediate Payment Service): Allows instant, 24/7 transfers even on holidays.
3. Add Beneficiary: If you haven’t already, add the recipient as a beneficiary. You will need their:
   • Beneficiary Name
   • Beneficiary Account Number
   • Account Type (Savings, Current, etc.)
   • The correct IFSC Code for their bank branch (PUNB0MBGB06 for Bihar Gramin Bank KHUDAGANJ)
4. Enter Amount: Input the amount of money you wish to transfer.
5. Confirm Transaction: Review all details carefully. Once confirmed, the transaction will be processed.

Always double-check the IFSC code and account number before confirming any transfer to prevent errors or delays.

Benefits of Knowing Your IFSC Code

Having easy access to the correct IFSC code for your bank branch offers several advantages:

• Facilitates Electronic Transfers: It is mandatory for all online fund transfer systems like NEFT, RTGS, and IMPS, enabling quick movement of money.
• Ensures Accuracy: The unique branch identifier within the IFSC code helps ensure that your funds reach the precise bank branch of the recipient, minimizing errors.
• Speeds Up Transactions: Correct IFSC codes contribute to a seamless and faster processing of digital payments.
• Supports Online Payments: It is often required for setting up automatic bill payments, making online purchases, or receiving payments from various platforms.
• Security: By linking transfers to specific, verified branch codes, it adds a layer of security to your financial transactions.

Contact

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

• Branch Phone Number: 9771464172
• Branch Address: KHUDAGANJ, Nalanda, 801127

For general queries or assistance related to Bihar Gramin Bank, you can contact the head office or use the toll-free number:

• Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

FAQs

Here are some frequently asked questions about IFSC codes:

Q1: What does IFSC stand for?
A1: IFSC stands for Indian Financial System Code. It is an 11-character code used to identify bank branches for electronic fund transfers in India.

Q2: Why is the 5th character of an IFSC code always ‘0’ (zero)?
A2: The fifth character is kept as ‘0’ (zero) as a standard practice across all IFSC codes. It is reserved for future use or internal bank system requirements, ensuring uniformity in the code structure.

Q3: Can I make an NEFT, RTGS, or IMPS transfer without an IFSC code?
A3: No, an IFSC code is mandatory for all NEFT, RTGS, and IMPS transactions. It is a critical component that directs the funds to the correct beneficiary bank and branch.

Q4: Is the IFSC code the same for all branches of Bihar Gramin Bank?
A4: No, the first four characters (bank code) are the same, but the last six characters (branch code) are unique for each branch. For example, while the bank code for Bihar Gramin Bank is related to ‘PUNB0MBGB’, each branch will have a different six-digit identifier at the end, like ’06’ for KHUDAGANJ.

Q5: What happens if I use an incorrect IFSC code during a transfer?
A5: If you use an incorrect IFSC code, your transaction will likely fail. The banking system will not be able to locate the intended beneficiary branch, and the funds will either not be debited from your account or will be returned to you after a short period. Always verify the IFSC code before initiating a transfer.