The Bihar Gramin Bank branch in Laundh, located in the Nawada district of Bihar, serves as a vital financial hub for the local community. For anyone looking to send or receive money electronically, understanding the Indian Financial System Code (IFSC) for this branch is crucial. The IFSC code acts like a unique digital address for bank branches, making sure that funds transferred through systems like NEFT, RTGS, and IMPS reach the correct account safely and quickly.
Branch Details
| Bank Name | Bihar Gramin Bank |
| Branch Name | LAUNDH |
| IFSC Code | PUNB0MBGB06 |
| MICR Code | 800811002 |
| Branch Code | 7287 |
| Branch Address | LAUNDH, Nawada, 805127, 9771464287 |
| Contact Number | 9771464287 |
| City | Nawada |
| District | Nawada |
| Reason | NAWADA |
| Pincode | 805127 |
| State | Bihar |
Merger Update
The IFSC code PUNB0MBGB06 is specifically assigned to branches of Madhya Bihar Gramin Bank, which operates under the sponsorship of Punjab National Bank. This code reflects a significant consolidation in the regional rural banking sector in Bihar. While the official bank name might appear differently on some older records, this IFSC code confirms its current operational alignment.
It is crucial to understand that Punjab National Bank acts as the sponsor bank for several regional rural banks in Bihar, leading to streamlined IFSC structures. For instance, if you previously used an IFSC code for Uttar Bihar Gramin Bank (UBGB) or Dakshin Bihar Gramin Bank (DBGB), it is essential to verify the current applicable code for your specific branch, as old codes for such entities are often revoked. For any branch now operating under Madhya Bihar Gramin Bank, including the Laundh branch detailed here, PUNB0MBGB06 is the only valid code for all electronic fund transfers. Using any old or incorrect IFSC code will lead to transaction failure.
What is an IFSC Code?
The Indian Financial System Code, or IFSC, is an 11-character alphanumeric code used to identify all bank branches in India. This code is essential for electronic money transfers. It helps ensure that your money goes to the correct bank and branch without any errors.
- The first four characters identify the bank. For example, “PUNB” stands for Punjab National Bank (the sponsor bank here).
- The fifth character is always a ‘0’ (zero). This is kept as a control character for future use.
- The last six characters uniquely identify the specific bank branch. In our case, “MBGB06” indicates the specific Laundh branch of Madhya Bihar Gramin Bank.
How to Use an IFSC Code
You will need the IFSC code for various types of electronic fund transfers. Here’s how you typically use it:
For NEFT (National Electronic Funds Transfer):
- Log into your net banking account or visit your bank branch.
- Select the “NEFT” option for fund transfer.
- Add the beneficiary (the person you are sending money to). You will need their name, account number, and the IFSC code of their bank branch.
- Enter the amount you wish to transfer.
- Confirm the details and complete the transaction. NEFT transactions are processed in batches throughout the day.
For RTGS (Real Time Gross Settlement):
- Similar to NEFT, log into your banking portal or visit the branch.
- Choose the “RTGS” option. RTGS is usually for larger amounts (typically above ₹2 lakh) and is processed immediately on a one-to-one basis.
- Provide the beneficiary’s name, account number, and the correct IFSC code.
- Enter the transfer amount.
- Verify all details before confirming the transfer.
For IMPS (Immediate Payment Service):
- Access IMPS through your mobile banking app or net banking.
- Enter the beneficiary’s mobile number, their MMID (Mobile Money Identifier, if available), or their account number and IFSC code.
- Input the amount you want to send. IMPS allows instant transfers 24/7, even on holidays.
- Confirm the transaction details.
Benefits of Knowing Your IFSC Code
Knowing the correct IFSC code for your bank branch offers several key advantages:
- Accuracy: Ensures your funds reach the intended recipient’s bank account without delays or errors.
- Speed: Facilitates faster processing of electronic transactions like NEFT, RTGS, and IMPS.
- Security: Helps prevent fraudulent transactions by precisely identifying the destination branch.
- Convenience: Essential for setting up online payments, auto-debits, and receiving salaries or other electronic credits.
- Mandatory: It is a mandatory detail for all inter-bank electronic fund transfers within India.
Contact Information
If you need to get in touch with the Bihar Gramin Bank, Laundh branch, or their head office, here are the details:
- Branch Phone Number: 9771464287
- Branch Address: LAUNDH, Nawada, 805127
- Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
- Toll-Free Number: 18001807777
Frequently Asked Questions (FAQs)
Q1: What does IFSC stand for?
A1: IFSC stands for Indian Financial System Code. It is an 11-character code used to identify specific bank branches for electronic fund transfers.
Q2: Is the IFSC code the same for all branches of Bihar Gramin Bank?
A2: No, the IFSC code is unique for each individual bank branch. Even if two branches belong to the same bank, they will have different IFSC codes because the last six characters specifically identify the branch.
Q3: What happens if I enter a wrong IFSC code during a fund transfer?
A3: If you enter an incorrect IFSC code, your transaction will most likely fail immediately. This is a safety feature that prevents funds from being sent to the wrong bank or branch. Always double-check the IFSC code before confirming any transfer.
Q4: Can I find the IFSC code on my bank passbook or chequebook?
A4: Yes, the IFSC code is typically printed on the first page of your bank passbook and on individual cheque leaves. You can also find it on your bank’s official website or through reliable third-party financial aggregators.
Q5: How is an IFSC code different from a MICR code?
A5: Both are unique codes, but they serve different purposes. The IFSC code (Indian Financial System Code) is used for electronic fund transfers like NEFT, RTGS, and IMPS. The MICR code (Magnetic Ink Character Recognition) is a 9-digit code primarily used for processing physical cheques. It helps speed up the clearing of cheques.
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.