Bihar Gramin Bank KESHARI NAGAR IFSC Code

For anyone dealing with banking transactions at the KESHARI NAGAR branch of Bihar Gramin Bank in Patna, Bihar, understanding the Indian Financial System Code (IFSC) is crucial. This unique 11-character code is essential for sending or receiving money electronically through services like National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS), and Immediate Payment Service (IMPS). It acts like a digital address, ensuring your funds reach the correct bank and branch without error.

Branch Details

Bank Name	Bihar Gramin Bank
Branch Name	KESHARI NAGAR
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	6912
Branch Address	KESHARI NAGAR, Patna, 800024, 7091596912
Contact Number	7091596912
City	Patna
District	Patna
Reason	PATNA
Pincode	800024
State	Bihar

Merger Update

The banking landscape in Bihar has seen significant changes, particularly for Regional Rural Banks (RRBs). Previously, banks like Bihar Gramin Bank, Uttar Bihar Gramin Bank (UBGB), and Dakshin Bihar Gramin Bank (DBGB) operated independently. However, these institutions have undergone mergers and restructuring to streamline operations under the sponsorship of larger public sector banks.

Specifically, the KESHARI NAGAR branch, which was part of Bihar Gramin Bank, now operates under the umbrella of Madhya Bihar Gramin Bank, which is sponsored by Punjab National Bank (PNB). As a result of these consolidations, older IFSC codes for banks like UBGB and DBGB, and even for earlier iterations of Bihar Gramin Bank, have been revoked and are no longer valid for transactions.

It is crucial to use only the current and unified IFSC code, PUNB0MBGB06, for all electronic fund transfers to the KESHARI NAGAR branch. Using any old or outdated IFSC code will cause your transaction to fail.

What is an IFSC Code?

The IFSC Code stands for the Indian Financial System Code. It is an 11-character alphanumeric code uniquely identifying every bank branch participating in electronic fund transfers across India. This code is crucial for directing your money to the exact recipient branch.

Let’s break down the structure of PUNB0MBGB06:

• The first four characters represent the bank. In this case, PUNB identifies Punjab National Bank, which is the sponsor bank for Madhya Bihar Gramin Bank.
• The fifth character is always a zero (0). This character is reserved for future use and acts as a control digit.
• The last six characters identify the specific branch. Here, MBGB06 points to the KESHARI NAGAR branch of Madhya Bihar Gramin Bank.

How to Use the IFSC Code

Using the IFSC code for electronic fund transfers is straightforward. Here are the general steps:

1. Log In: Access your online banking portal or mobile banking app.
2. Select Transfer Type: Choose the type of transfer you want to make – NEFT, RTGS, or IMPS.
3. Add Beneficiary: If you’re sending money to someone for the first time, you’ll need to add them as a beneficiary. This usually requires their name, account number, the bank’s name (Madhya Bihar Gramin Bank in this case), and the branch’s IFSC code (PUNB0MBGB06).
4. Enter Details: Carefully input the beneficiary’s account number, confirm the bank and branch, and provide the IFSC code PUNB0MBGB06. Double-check all details to prevent errors.
5. Specify Amount: Enter the amount you wish to transfer.
6. Confirm: Review all the entered information, especially the account number and IFSC code, before confirming the transaction. A small error in the IFSC can lead to delays or incorrect transfers.

For example, if you are sending money to your family member’s account at the KESHARI NAGAR branch, you would use their account number along with PUNB0MBGB06 to ensure the funds reach their specific account.

Benefits of Knowing the IFSC Code

Understanding and having the correct IFSC code at hand offers several important benefits:

• Ensures Accuracy: It guarantees that your funds are directed to the precise bank and branch, minimizing the risk of incorrect transfers.
• Facilitates Fast Transfers: With the correct IFSC, NEFT, RTGS, and IMPS transactions are processed quickly, often within minutes or hours.
• Secure Transactions: The unique identification provided by the IFSC adds a layer of security to your electronic fund transfers.
• Essential for Online Banking: It is a mandatory requirement for initiating any electronic money transfer, making online banking convenient and efficient.
• Reduces Manual Errors: By precisely identifying the destination branch, it significantly reduces the chances of human error that might occur with manual address or branch name entries.

Contact Information

For specific inquiries or assistance related to the KESHARI NAGAR branch of Madhya Bihar Gramin Bank (formerly Bihar Gramin Bank), you can use the following contact details:

• Branch Phone Number: 7091596912
• Branch Address: KESHARI NAGAR, Patna, 800024
• Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

Frequently Asked Questions (FAQs)

What does IFSC stand for?

IFSC stands for Indian Financial System Code. It is an 11-character code used to identify bank branches for electronic money transfers.

Why is the fifth character of the IFSC code always ‘0’?

The fifth character of the IFSC code is always a ‘0’ (zero). This digit is reserved for future use by the Reserve Bank of India (RBI) and helps in maintaining uniformity across all IFSC codes.

Can I use an old IFSC code for the KESHARI NAGAR branch if I have one?

No. Due to bank mergers and restructuring, old IFSC codes for many regional rural banks, including previous iterations of Bihar Gramin Bank or any UBGB/DBGB codes, have been revoked. You must use the current IFSC code, PUNB0MBGB06, for all electronic transactions to the KESHARI NAGAR branch. Using an old code will cause the transaction to fail.

Is the IFSC code the same for all branches of Madhya Bihar Gramin Bank?

No, the IFSC code is unique to each specific bank branch. While the first four characters (bank code) might be the same for all branches of Madhya Bihar Gramin Bank (e.g., PUNB for the sponsoring bank and MBGB for the bank itself), the last six characters (branch code) will differ for every branch, identifying its specific location.

What is the difference between NEFT, RTGS, and IMPS?

• NEFT (National Electronic Funds Transfer): Processes payments in batches throughout the day. It’s suitable for non-urgent transfers and has no minimum or maximum amount limits.
• RTGS (Real Time Gross Settlement): Processes transactions individually and continuously, meaning funds are settled in real-time. It’s typically used for high-value transactions, with a minimum transfer amount of ₹2 Lakh.
• IMPS (Immediate Payment Service): Offers instant, 24/7 interbank electronic fund transfer through mobile, internet, and ATM channels. There are typically limits on the maximum amount that can be transferred, often ₹5 Lakh per transaction.