If you need to send or receive money to or from the Bihar Gramin Bank branch in WARSALIGANJ, Nawada, Bihar, understanding its IFSC code is crucial. This unique code acts like a digital address, making sure your funds go to the correct bank and branch. It’s essential for popular online money transfer systems like NEFT, RTGS, and IMPS, ensuring your transactions are both quick and secure.
Branch Details Table
| Detail | Information |
|---|---|
| Bank Name | Bihar Gramin Bank |
| Branch Name | WARSALIGANJ |
| IFSC Code | PUNB0MBGB06 |
| MICR Code | 800811002 |
| Branch Code | 7306 |
| Branch Address | WARSALIGANJ, Nawada, 805132 |
| Contact Number | 9771464306 |
| City | Nawada |
| District | Nawada |
| Reason | NAWADA |
| Pincode | 805132 |
| State | Bihar |
Merger Update
The Bihar Gramin Bank WARSALIGANJ branch is now part of Madhya Bihar Gramin Bank, which is sponsored by Punjab National Bank. It’s important to understand the changes in regional rural banking. Many regional rural banks in Bihar have seen various mergers and consolidations over time. For instance, if a branch previously belonged to Uttar Bihar Gramin Bank (UBGB) or Dakshin Bihar Gramin Bank (DBGB), those banks have merged into new entities, and their old IFSC codes are no longer valid. For the WARSALIGANJ branch, and indeed for all operations under Madhya Bihar Gramin Bank, the single IFSC code PUNB0MBGB06, under Punjab National Bank, is the only valid code for all digital transactions. Any old IFSC codes associated with prior entities like UBGB or DBGB, or any previous structure of Bihar Gramin Bank, have been revoked and are no longer valid for any form of money transfer.
What is an IFSC Code?
IFSC stands for Indian Financial System Code. It is an 11-character alphanumeric code used to identify specific bank branches in India. This code is crucial for online money transfers.
The IFSC code has a distinct structure:
- 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” identifies the WARSALIGANJ branch of Madhya Bihar Gramin Bank.
Using the correct IFSC code ensures that your funds are directed accurately and without delay to the intended recipient’s bank account and branch, reducing the risk of transaction errors.
How to Use the IFSC Code
You will need the IFSC code when initiating online fund transfers using systems like NEFT, RTGS, or IMPS. Here’s a step-by-step guide:
- Log In: Access your bank’s online banking portal or mobile banking app.
- Select Transfer Option: Choose the option for fund transfer, such as “NEFT,” “RTGS,” or “IMPS.”
- Add Beneficiary: If you’re sending money to a new recipient, you’ll first need to add them as a beneficiary. This usually requires their name, account number, and the IFSC code of their bank branch.
- Enter Details: Input the beneficiary’s account number, the amount you wish to transfer, and the IFSC code (PUNB0MBGB06 for WARSALIGANJ branch).
- Confirm: Double-check all the entered details, especially the IFSC code and account number, to avoid any mistakes.
- Authenticate: Complete the transaction by entering your password or OTP (One-Time Password).
For example, if you are sending money to someone with an account at the Bihar Gramin Bank WARSALIGANJ branch, you would enter their account number and the IFSC code PUNB0MBGB06 to ensure the funds reach them correctly.
Benefits of Knowing the IFSC Code
Understanding and correctly using the IFSC code offers several key advantages for your banking needs:
- Accurate Transfers: It guarantees that your money is sent to the precise bank and branch you intended, preventing misdirected funds.
- Faster Processing: Online transfer systems like NEFT and RTGS rely on the IFSC for quick routing, leading to faster crediting of funds to the recipient’s account.
- Enhanced Security: The unique identification helps in tracking transactions, adding a layer of security to your financial dealings.
- Mandatory for Digital Transactions: For almost all digital inter-bank money transfers in India, providing the correct IFSC code is a mandatory requirement.
- Easy Identification: It simplifies the process of identifying a specific branch among thousands across the country.
Contact Information
If you need to get in touch with the bank or have further queries, here are the contact details:
- Branch Phone Number (WARSALIGANJ): 9771464306
- Branch Address (WARSALIGANJ): WARSALIGANJ, Nawada, Pincode-805132, Bihar
- Head Office Address (Madhya Bihar Gramin Bank): SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
- Toll-Free Number (Madhya Bihar Gramin Bank): 18001807777
Frequently Asked Questions (FAQs)
Q1: What happens if I use an incorrect IFSC code for a transfer?
A1: If you use an incorrect IFSC code, your transaction will likely fail. The funds might be returned to your account, or the transfer could be held up. In rare cases, if the incorrect IFSC code corresponds to another valid branch and the account number also matches, your funds could be sent to the wrong person. Always double-check the IFSC code before confirming a transfer.
Q2: Is the IFSC code mandatory for all bank transactions?
A2: The IFSC code is mandatory for most online inter-bank transactions within India, specifically NEFT, RTGS, and IMPS. For intra-bank transfers (money transfers between accounts within the same bank) or cash deposits/withdrawals at the branch, the IFSC code is generally not required.
Q3: How can I find the IFSC code for any bank branch?
A3: You can find the IFSC code in several ways: on your bank’s chequebook, on your passbook, on the bank’s official website, or by using reliable third-party financial websites. Make sure to use the exact branch name for an accurate search.
Q4: Can the IFSC code change over time?
A4: Yes, an IFSC code can change. This usually happens if a bank merges with another bank, undergoes a significant restructuring, or if a branch relocates. When such changes occur, the bank will inform its customers. It is always wise to confirm the latest IFSC code, especially for older beneficiaries or after any bank announcements.
Q5: Is the MICR code the same as the IFSC code?
A5: No, the MICR (Magnetic Ink Character Recognition) code is different from the IFSC code. The MICR code is a 9-digit numerical code printed on cheques, primarily used for processing cheques. The IFSC code, an 11-character alphanumeric code, is used for electronic fund transfers. Both codes serve distinct purposes in the banking system.
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.