Bihar Gramin Bank SERAJNAGAR IFSC Code

The town of Serajnagar, nestled in the Nawada district of Bihar, relies on efficient banking services for its residents and local businesses. When it comes to transferring funds digitally, understanding the Indian Financial System Code (IFSC) is crucial. This unique 11-character code is essential for conducting secure and swift transactions through methods like National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS), and Immediate Payment Service (IMPS). Knowing the correct IFSC code for your bank branch ensures your money reaches the intended recipient without any delays or errors.

Branch Details

Here are the specific details for the Bihar Gramin Bank branch located in Serajnagar, Nawada:

Bank Name	Bihar Gramin Bank
Branch Name	SERAJNAGAR
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	6970
Branch Address	SERAJNAGAR, Nawada, 805122, 7070196970
Contact Number	7070196970
City	Nawada
District	Nawada
Reason	NAWADA
Pincode	805122
State	Bihar

Merger Update

It is important to note the changes in the structure of Regional Rural Banks (RRBs) in Bihar. Previously, banks like Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB) operated separately. However, these, along with other regional rural banks including the former Bihar Gramin Bank, have undergone mergers to form consolidated entities. The Serajnagar branch, which was part of Bihar Gramin Bank, now operates under the umbrella of Madhya Bihar Gramin Bank. This consolidated bank is sponsored by Punjab National Bank.

Due to this restructuring, the IFSC code PUNB0MBGB06 is the valid code for the Serajnagar branch. Any old IFSC codes associated with the predecessor banks are no longer valid for transactions. Always use the current code, PUNB0MBGB06, for all your digital fund transfers to and from this branch.

What is an IFSC Code?

The IFSC Code stands for Indian Financial System Code. It is an 11-character alphanumeric code that uniquely identifies every bank branch participating in online fund transfers in India. This code is crucial for directing your money to the correct bank and specific branch.

The structure of the IFSC code is as follows:

• The first four characters represent the bank name. For PUNB0MBGB06, “PUNB” indicates Punjab National Bank, which is the sponsor bank for Madhya Bihar Gramin Bank.
• The fifth character is always a ‘0’ (zero). This character is reserved for future use.
• The last six characters identify the specific branch. In this case, “MBGB06” uniquely points to the Serajnagar branch of Madhya Bihar Gramin Bank.

How to Use an IFSC Code

Using the IFSC code is a straightforward process when you are making online fund transfers through NEFT, RTGS, or IMPS. Here’s how it generally works:

1. Log In: Access your bank’s internet banking portal or mobile banking app.
2. Select Transfer Type: Choose the type of transfer you wish to make (NEFT, RTGS, or IMPS).
3. Add Beneficiary: If you are sending money to someone for the first time, you will need to add them as a beneficiary. This involves entering their account number, account holder’s name, and the correct IFSC code of their bank branch.
4. Enter Details: For subsequent transfers, select the beneficiary from your saved list. Enter the amount you wish to send.
5. Verify and Confirm: Double-check all the details, especially the account number and the IFSC code, to ensure accuracy. Confirm the transaction.

The bank system uses the IFSC code to correctly route your funds to the intended recipient’s branch.

Benefits of Knowing Your IFSC Code

Knowing the correct IFSC code for your bank branch offers several practical benefits:

• Error-Free Transfers: Ensures your money goes to the correct bank branch, reducing the risk of failed or misdirected transactions.
• Faster Processing: Helps in quick processing of NEFT, RTGS, and IMPS transactions by correctly identifying the destination branch.
• Mandatory for Online Banking: It is a compulsory detail required for all inter-bank electronic fund transfers.
• Convenience: Facilitates easy and convenient digital banking, allowing you to transfer funds from anywhere at any time.
• Receiving Funds: You will need to provide your branch’s IFSC code to others if you wish to receive money directly into your account via electronic transfer.

Contact Information

• Serajnagar Branch Phone Number: 7070196970
• Serajnagar Branch Address: SERAJNAGAR, Nawada, 805122, Bihar
• Head Office Address (Madhya Bihar Gramin Bank): SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number (Madhya Bihar Gramin Bank): 18001807777

FAQs

Here are some frequently asked questions about the Bihar Gramin Bank Serajnagar IFSC code:

Q1: Is the IFSC code PUNB0MBGB06 valid for all types of online transactions?
A1: Yes, PUNB0MBGB06 is the valid IFSC code for NEFT, RTGS, and IMPS transactions for the Serajnagar branch of Madhya Bihar Gramin Bank (formerly Bihar Gramin Bank).

Q2: What should I do if I used an old IFSC code for a transaction?
A2: If you used an old, invalid IFSC code, the transaction will likely fail and the funds will be returned to your account. You will then need to initiate the transaction again using the correct and current IFSC code, PUNB0MBGB06.

Q3: Why does the IFSC code start with “PUNB” if it’s Bihar Gramin Bank?
A3: The “PUNB” prefix indicates that Punjab National Bank is the sponsor bank for Madhya Bihar Gramin Bank. Due to mergers, the former Bihar Gramin Bank branches, including Serajnagar, now operate under Madhya Bihar Gramin Bank, which uses this standardized IFSC structure.

Q4: Can I find the IFSC code on my passbook or cheque book?
A4: Yes, the IFSC code is usually printed on your bank passbook and cheque book. However, given the recent mergers and changes, it’s always a good practice to verify the current IFSC code from reliable sources like the bank’s official website or by contacting the branch directly, especially if your passbook or cheque book is old.

Q5: Is the MICR code also necessary for online transfers?
A5: While the IFSC code is essential for NEFT, RTGS, and IMPS, the MICR (Magnetic Ink Character Recognition) code is primarily used for clearing physical cheques. It helps in the fast processing of cheques by identifying the bank and branch. You typically won’t need the MICR code for online digital transfers.