Bihar Gramin Bank MAHALPAR IFSC Code

This article discusses the Bihar Gramin Bank branch located in MAHALPAR, Nalanda, Bihar. It provides important details about its IFSC code. The Indian Financial System Code (IFSC) is a unique 11-character code essential for conducting electronic fund transfers. Whether you are sending or receiving money through NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), or IMPS (Immediate Payment Service), the correct IFSC code ensures your funds reach the intended bank and specific branch without error.

Branch Details

Bank Name	Bihar Gramin Bank
Branch Name	MAHALPAR
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	7177
Branch Address	MAHALPAR, Nalanda, 803101, 9771464177
Contact Number	9771464177
City	Nalanda
District	Nalanda
Reason	BIHARSHARIF
Pincode	803101
State	Bihar

Merger Update

Bihar Gramin Bank, operating as part of the Madhya Bihar Gramin Bank network, has undergone significant changes due to mergers among regional rural banks. These banks are sponsored by Punjab National Bank. As a result, the financial operations, especially electronic transfers, are now streamlined under a unified system.

The MAHALPAR branch of Bihar Gramin Bank now uses the IFSC code PUNB0MBGB06. This code reflects its integration under Punjab National Bank’s sponsorship. It is crucial to understand that any older IFSC codes previously associated with Bihar Gramin Bank or other merged regional rural banks are no longer valid for transactions. For any electronic fund transfer to or from this branch, you must use PUNB0MBGB06. Using an old or incorrect IFSC code will lead to transaction failure or delays.

What is an 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 funds transfers. This code is critical for sending money accurately through systems like NEFT, RTGS, and IMPS.

The structure of the IFSC code is as follows:

• The first four characters identify the bank. For example, in PUNB0MBGB06, “PUNB” stands for Punjab National Bank, the sponsoring bank.
• The fifth character is always a zero (0). This character is reserved for future use.
• The last six characters identify the specific branch. In PUNB0MBGB06, “MBGB06” uniquely identifies the MAHALPAR branch under Madhya Bihar Gramin Bank’s structure within Punjab National Bank’s system.

How to Use an IFSC Code

When you need to send money electronically to the Bihar Gramin Bank, MAHALPAR branch, you will need the IFSC code along with other recipient details. Here’s how you generally use it for different types of transfers:

For NEFT, RTGS, or IMPS:

1. Log in to your bank’s online banking portal or mobile app.
2. Go to the ‘Fund Transfer’ section.
3. Select the type of transfer (NEFT, RTGS, or IMPS).
4. Add a new beneficiary or select an existing one.
5. Enter the beneficiary’s details, including:
   • Beneficiary Name
   • Beneficiary Account Number
   • Confirm Account Number
   • Bank Name (Bihar Gramin Bank)
   • IFSC Code: PUNB0MBGB06
   • Account Type (Savings, Current, etc.)
6. Enter the amount you wish to transfer.
7. Confirm the details and proceed with the transfer.

The IFSC code ensures that your money is routed to the correct branch of the correct bank, preventing errors and ensuring a smooth transfer process.

Benefits of Knowing the IFSC Code

Knowing the correct IFSC code for the MAHALPAR branch of Bihar Gramin Bank offers several key advantages:

• Accurate Fund Transfers: It ensures that your money reaches the exact intended branch and account, minimizing errors.
• Enables Online Transactions: The IFSC is mandatory for all digital fund transfers, including those done through mobile banking apps and internet banking.
• Faster Processing: Correct IFSC codes help speed up the processing of NEFT, RTGS, and IMPS transactions.
• Prevents Fraud: By uniquely identifying branches, it adds a layer of security to financial transactions.
• Branch Identification: It helps to pinpoint the exact branch location even within a large bank network.

Contact Information

Should you need to contact the branch or the head office, here are the details:

• Branch Phone Number (MAHALPAR): 9771464177
• Branch Address (MAHALPAR): MAHALPAR, Nalanda, 803101, Bihar
• Head Office Address (Bihar Gramin Bank – Madhya Bihar Gramin Bank): SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number (Punjab National Bank): 18001807777

Frequently Asked Questions (FAQs)

What happens if I use an incorrect IFSC code for a transfer?

If you use an incorrect IFSC code, your transaction will likely fail. The funds will either be returned to your account, or the transfer will not be initiated. It is rare for funds to go to a wrong account if the IFSC is incorrect but the account number matches a different bank, but it’s always best to double-check.

Is the IFSC code the same as the MICR code?

No, IFSC and MICR codes are different. The IFSC (Indian Financial System Code) is used for online fund transfers, while the MICR (Magnetic Ink Character Recognition) code is an 9-digit code primarily used for processing cheques.

Can I find the IFSC code online?

Yes, you can easily find IFSC codes online. Most bank websites provide a branch locator tool, and there are many financial websites that list IFSC codes for all bank branches in India. The MAHALPAR branch’s IFSC code, PUNB0MBGB06, is readily available.

Is the IFSC code mandatory for all bank transactions?

The IFSC code is mandatory for all electronic fund transfers like NEFT, RTGS, and IMPS. For other transactions such as cash deposits, withdrawals, or cheque deposits at a physical branch, the IFSC code is not typically required.

Why did the IFSC code for Bihar Gramin Bank change?

The IFSC code for Bihar Gramin Bank (specifically, branches under Madhya Bihar Gramin Bank) changed due to mergers and restructuring of regional rural banks under the sponsorship of Punjab National Bank. The new unified IFSC code, starting with “PUNB,” reflects this change and ensures standardized electronic transactions across the merged entities.