Bihar Gramin Bank YOGIPUR IFSC Code

This article discusses the Indian Financial System Code (IFSC) for the Bihar Gramin Bank’s YOGIPUR branch, located in Nalanda, Bihar. Understanding the IFSC code is crucial for any digital money transfer. It acts like a unique address for bank branches, making sure your funds reach the right destination when you use services like National Electronic Funds Transfer (NEFT), Real-Time Gross Settlement (RTGS), or Immediate Payment Service (IMPS). Without the correct IFSC, these modern fund transfers cannot be completed successfully.

Branch Details

Bank Name	Bihar Gramin Bank
Branch Name	YOGIPUR
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	7168
Branch Address	YOGIPUR, Nalanda, 801302, 9771464168
Contact Number	9771464168
City	Nalanda
District	Nalanda
Reason	BIHARSHARIF
Pincode	801302
State	Bihar

Merger Update

It is important to note that the banking landscape in Bihar has seen some changes. Both Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB) have merged. They now operate under a new identity, Madhya Bihar Gramin Bank, sponsored by Punjab National Bank. As a result of this merger, there is a single, unified IFSC code used across all branches of the new Madhya Bihar Gramin Bank, including the YOGIPUR branch. The valid IFSC code is PUNB0MBGB06. This means that any old IFSC codes previously used for UBGB or DBGB branches are no longer valid. For all your digital fund transfers, you must use only the new code PUNB0MBGB06 to ensure your transactions are processed correctly.

What is IFSC Code?

The Indian Financial System Code, or IFSC, is an 11-character code assigned by the Reserve Bank of India (RBI) to uniquely identify each bank branch participating in online fund transfers. Think of it as a specific postal code for financial transactions. This code is crucial for accurately routing money to the correct bank and branch.

The 11 characters of an IFSC code follow a standard structure:

• The first four characters represent the bank. For example, in PUNB0MBGB06, “PUNB” stands for Punjab National Bank, the sponsor bank for Madhya Bihar Gramin Bank.
• The fifth character is always a “0” (zero). This is a control character reserved for future use.
• The last six characters identify the specific branch. In PUNB0MBGB06, “MBGB06” identifies the YOGIPUR branch of Madhya Bihar Gramin Bank.

This unique combination ensures that your money goes precisely where you intend it to.

How to Use IFSC Code

Using the IFSC code is a straightforward process when you are transferring money online through NEFT, RTGS, or IMPS. Here’s a general guide:

1. Adding a Beneficiary: Before you can send money, you usually need to add the recipient as a “beneficiary” in your bank’s online banking portal or mobile app.
2. Provide Beneficiary Details: You will need to enter several pieces of information about the person or entity receiving the money. This includes:
   • The beneficiary’s name.
   • The beneficiary’s bank account number (you might need to enter it twice to confirm).
   • The beneficiary’s bank name (e.g., Madhya Bihar Gramin Bank).
   • The IFSC code of the beneficiary’s branch (e.g., PUNB0MBGB06 for YOGIPUR branch).
3. Initiate the Transfer: Once the beneficiary is added and approved (which might take a few hours or minutes, depending on your bank), you can select them and enter the amount you wish to transfer.
4. Confirm Transaction: Review all the details, especially the account number and IFSC code, before confirming the transfer. An incorrect IFSC code will result in the transaction failing or, in rare cases, being sent to the wrong branch if the account number matches another valid account there.

For example, if you are sending money to an account at the YOGIPUR branch of Madhya Bihar Gramin Bank, you would use PUNB0MBGB06 along with the recipient’s account number.

Benefits

Knowing and using the correct IFSC code offers several important benefits for secure and efficient banking:

• Accurate Fund Transfer: It ensures that your money is routed to the precise bank and branch, minimizing errors and ensuring the recipient receives the funds.
• Security: The unique identification helps prevent fraudulent transfers by linking transactions to specific, verifiable bank branches.
• Speed and Efficiency: Online transactions like NEFT, RTGS, and IMPS rely on IFSC codes for quick processing, allowing funds to be transferred within minutes or hours.
• Standardization: It provides a universal system for identifying bank branches across India, making inter-bank transfers smooth and consistent.
• Convenience: It enables individuals and businesses to conduct financial transactions from anywhere, without needing to visit a physical bank branch for every transfer.

Contact

For assistance related to the YOGIPUR branch of Madhya Bihar Gramin Bank:

• Branch Phone Number: 9771464168
• Branch Address: YOGIPUR, Nalanda, 801302, Bihar
• Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

FAQs

Q1: What happens if I use an old IFSC code from Uttar Bihar Gramin Bank (UBGB) or Dakshin Bihar Gramin Bank (DBGB)?
A: If you try to use an old IFSC code, your transaction will likely fail. Since UBGB and DBGB have merged to form Madhya Bihar Gramin Bank and use a new unified IFSC (PUNB0MBGB06), old codes are no longer recognized for fund transfers. Always use the current valid code.

Q2: Is the IFSC code the same as the MICR code?
A: No, the IFSC code and MICR (Magnetic Ink Character Recognition) code are different. While both are used for bank identification, IFSC is for online fund transfers (NEFT, RTGS, IMPS), and MICR is primarily for processing physical cheques. The MICR code for YOGIPUR branch is 800811002.

Q3: Where can I find the IFSC code for my bank branch?
A: You can usually find the IFSC code on your cheque book, bank passbook, or account statement. Most bank websites and mobile banking apps also display the IFSC code for their branches. Additionally, the Reserve Bank of India (RBI) website provides a searchable directory of IFSC codes.

Q4: Is an IFSC code always required for online transactions?
A: For NEFT, RTGS, and direct bank-to-bank IMPS transfers, an IFSC code is mandatory. However, some newer payment methods, like UPI (Unified Payments Interface) or mobile wallet transfers, might not directly ask for the IFSC code as they use other identifiers like UPI IDs or mobile numbers, which are linked to bank accounts and their underlying IFSC details.

Q5: What does PUNB0MBGB06 signify?
A: PUNB0MBGB06 is the IFSC code for the YOGIPUR branch of Madhya Bihar Gramin Bank. “PUNB” indicates Punjab National Bank as the sponsor bank. “0” is for future use. “MBGB06” identifies the specific YOGIPUR branch of Madhya Bihar Gramin Bank. This code is crucial for directing your online fund transfers to this particular branch.