The Bihar Gramin Bank branch in MALAWAN, Nalanda, Bihar, serves the local community with banking services. For any digital money transfers, knowing the correct Indian Financial System Code (IFSC) is very important. This unique code helps send money accurately through systems like NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), and IMPS (Immediate Payment Service), ensuring your funds reach the right bank and branch quickly and safely.
Branch Details
| Bank Name | Bihar Gramin Bank |
| Branch Name | MALAWAN |
| IFSC Code | PUNB0MBGB06 |
| MICR Code | 800811002 |
| Branch Code | 6863 |
| Branch Address | MALAWAN, Nalanda, 811101, 7485096863 |
| Contact Number | 7485096863 |
| City | Nalanda |
| District | Nalanda |
| Reason | BIHARSHARIF |
| Pincode | 811101 |
| State | Bihar |
Merger Update for Bihar Gramin Bank Branches
You might be aware that the landscape of regional rural banks in India has seen some important changes. Bihar Gramin Bank, along with other entities like the erstwhile Dakshin Bihar Gramin Bank (DBGB) and Uttar Bihar Gramin Bank (UBGB), has undergone integration. These banks now operate under a consolidated structure, sponsored by Punjab National Bank.
Specifically, the MALAWAN branch of Bihar Gramin Bank now uses the IFSC code PUNB0MBGB06. The ‘PUNB’ part signifies Punjab National Bank, which is the sponsor bank for the consolidated regional rural bank in Bihar (Madhya Bihar Gramin Bank). The ‘MBGB’ refers to Madhya Bihar Gramin Bank, which is the current operating entity for branches like MALAWAN.
It’s crucial to understand that any older IFSC codes previously used by these individual banks, including any from Uttar Bihar Gramin Bank or Dakshin Bihar Gramin Bank, have been revoked. For all future digital transactions, only the new, standardized IFSC code, such as PUNB0MBGB06 for the MALAWAN branch, is valid. Using an old or incorrect IFSC code will lead to transaction failures.
What is an IFSC Code?
The Indian Financial System Code, or IFSC, is a unique 11-character alphanumeric code. It identifies every bank branch in India participating in online money transfers. Think of it as a unique digital address for each bank branch.
- The first four characters of the IFSC always represent the bank name. For instance, in PUNB0MBGB06, ‘PUNB’ stands for Punjab National Bank, the sponsor bank for Madhya Bihar Gramin Bank.
- The fifth character is always a ‘zero’ (0). This character is reserved for future use and helps distinguish between the bank code and the branch code.
- The last six characters identify the specific bank branch. In our example, ‘MBGB06’ specifically points to the MALAWAN branch within the Madhya Bihar Gramin Bank structure.
This standard structure ensures that when you enter an IFSC code, your money transfer system can precisely identify the intended bank and its specific branch.
How to Use the IFSC Code for Fund Transfers
Using the IFSC code is a straightforward process when you are making online money transfers through NEFT, RTGS, or IMPS. Here’s how it generally works:
- Log in to Your Net Banking or Mobile Banking App: Access your bank’s online platform or mobile application.
- Select Funds Transfer: Look for options like ‘Fund Transfer,’ ‘Send Money,’ or ‘Payments.’
- Choose Transfer Type: Select the type of transfer you want to make – NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), or IMPS (Immediate Payment Service). Each has different processing times and limits.
- Add Beneficiary Details: If you are sending money to someone for the first time, you will need to add them as a ‘beneficiary.’
- Enter Beneficiary Bank Details: This is where the IFSC code comes in. You will need to provide:
- Beneficiary’s Name
- Beneficiary’s Account Number (you might need to confirm it twice)
- Beneficiary’s Bank Name (e.g., Madhya Bihar Gramin Bank)
- Beneficiary’s Branch Name (e.g., MALAWAN)
- The IFSC Code (e.g., PUNB0MBGB06)
- Confirm and Transact: Once all details are entered, review them carefully. Then, enter the amount you wish to transfer and confirm the transaction, often using an OTP (One Time Password) or transaction password.
Always double-check the IFSC code and account number before confirming any transaction. A single wrong digit can lead to your funds being sent to an incorrect account or the transaction failing.
Benefits of Knowing the Correct IFSC Code
Having the correct IFSC code for your bank or the recipient’s bank offers several advantages:
- Accurate Fund Transfers: Ensures your money goes to the exact bank branch intended, preventing errors and delays.
- Faster Transactions: Essential for quick processing of NEFT, RTGS, and IMPS transfers.
- Security: Reduces the risk of funds being misdirected, adding a layer of security to your transactions.
- Convenience: Simplifies the process of setting up new beneficiaries for online banking.
- Essential for Online Payments: Required for various online payments, bill payments, and e-commerce transactions where bank transfers are an option.
Contact Information
For any banking inquiries related to the MALAWAN branch of Bihar Gramin Bank (now operating under Madhya Bihar Gramin Bank), you can use the following details:
- Branch Phone Number: 7485096863
- Branch Address: MALAWAN, Nalanda, 811101
- Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
- Toll-Free Number: 18001807777
Frequently Asked Questions (FAQs)
Q1: Is Bihar Gramin Bank still an independent entity?
A1: No, Bihar Gramin Bank, along with other regional rural banks in Bihar, has been integrated. It now operates as part of Madhya Bihar Gramin Bank, which is sponsored by Punjab National Bank. This is why its IFSC code starts with ‘PUNB’.
Q2: What happens if I use an old IFSC code for the MALAWAN branch?
A2: If you use an old or incorrect IFSC code for any transaction, your fund transfer will likely fail. The money will not be debited from your account, or it will be returned to you after some processing time. It’s crucial to always use the current IFSC code, PUNB0MBGB06.
Q3: Can I find the IFSC code on my passbook?
A3: Yes, the IFSC code is typically printed on the first page of your bank passbook or on your cheque book. You can also find it on your bank’s official website or by contacting the branch directly.
Q4: Is the IFSC code the same as the MICR code?
A4: No, the IFSC code and MICR code are different. The IFSC code (Indian Financial System Code) is used for online fund transfers (NEFT, RTGS, IMPS). The MICR code (Magnetic Ink Character Recognition) is a 9-digit code primarily used for processing cheques. While both are important for banking, they serve different purposes.
Q5: How does the IFSC code help ensure my transaction is secure?
A5: The IFSC code adds a layer of security by acting as a unique identifier. It precisely directs your funds to the correct bank and branch, minimizing the chances of human error or fraud during online transfers. Without a valid IFSC, a digital transaction cannot be processed, ensuring funds are not sent to non-existent or incorrect destinations.
Kritti Kumari is a banker and MBA graduate who writes about banking, finance, and customer-friendly services. She simplifies complex financial products into easy guides, helping readers understand Bihar Gramin Bank’s offerings and make smarter money decisions.