In the heart of Bihar, the town of PALIGANJ in Patna district relies on efficient banking services. For anyone looking to transfer funds electronically to or from the Bihar Gramin Bank’s PALIGANJ branch, understanding the IFSC code is crucial. This unique 11-character code is essential for all online money transfers through systems like NEFT, RTGS, and IMPS, ensuring your money reaches the correct bank and branch swiftly and securely. Without it, electronic transactions cannot be processed.
Branch Details
Here are the complete details for the Bihar Gramin Bank, PALIGANJ branch:
| Field | Detail |
|---|---|
| Bank Name | Bihar Gramin Bank |
| Branch Name | PALIGANJ |
| IFSC Code | PUNB0MBGB06 |
| MICR Code | 800811002 |
| Branch Code | 7320 |
| Branch Address | PALIGANJ, Patna, 801110 |
| Contact Number | 9771464320 |
| City | Patna |
| District | Patna |
| Reason | PATNA |
| Pincode | 801110 |
| State | Bihar |
Merger Update
The banking landscape for Regional Rural Banks in Bihar has seen some changes. Previously, there were Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB). Both of these banks have now merged to form the single entity known as Bihar Gramin Bank. This unified bank is sponsored by Punjab National Bank.
Due to this merger, all older IFSC codes associated with UBGB and DBGB branches have been revoked and are no longer valid for any transactions. For any branch of Bihar Gramin Bank, including the PALIGANJ branch, you must now use the new, unified IFSC code: PUNB0MBGB06. This is the only valid code for all electronic fund transfers.
What is an IFSC Code?
IFSC stands for Indian Financial System Code. It is an 11-character alphanumeric code used to uniquely identify all bank branches participating in the RBI’s electronic funds settlement systems, like NEFT, RTGS, and IMPS. The code is structured in a specific way to provide clear information:
- The first four characters represent the bank name. For PUNB0MBGB06, “PUNB” stands for Punjab National Bank, the sponsor bank for Bihar Gramin Bank.
- The fifth character is always ‘0’ (zero). This character is reserved for future use and helps maintain uniformity.
- The last six characters identify the specific branch. In this case, “MBGB06” identifies the PALIGANJ branch of Bihar Gramin Bank.
So, the code PUNB0MBGB06 ensures that your payment is directed specifically to the PALIGANJ branch of Bihar Gramin Bank, under the Punjab National Bank network.
How to Use an IFSC Code
Using the IFSC code for electronic fund transfers is a straightforward process. Here’s how you typically use it for NEFT, RTGS, and IMPS:
- Log in to your banking platform: Access your net banking portal or mobile banking app.
- Select “Fund Transfer”: Choose the option to initiate a fund transfer.
- Add Beneficiary: If you are sending money to someone for the first time, you will need to add them as a beneficiary. This involves providing their name, account number, account type (savings or current), and the crucial IFSC code of their bank branch.
- Choose Transfer Type: Select NEFT, RTGS, or IMPS based on the urgency and amount of your transfer.
- NEFT (National Electronic Funds Transfer): Processes payments in batches, typically for smaller amounts.
- RTGS (Real-Time Gross Settlement): Designed for large-value transactions, processed individually and in real-time.
- IMPS (Immediate Payment Service): Allows instant, 24/7 transfers, often for smaller to medium amounts.
- Enter Amount and Confirm: Input the amount you wish to transfer and confirm all details, including the IFSC code and account number, before proceeding.
- Authenticate: Complete the transaction using your PIN, OTP, or other security credentials.
Always double-check the IFSC code and account number to avoid sending money to the wrong recipient.
Benefits of Knowing the IFSC Code
Having the correct IFSC code at hand offers several important benefits:
- Accurate Fund Transfers: Ensures your money goes to the correct bank and branch without errors.
- Faster Processing: Enables quick electronic transfers through NEFT, RTGS, and IMPS.
- Convenience: Facilitates online transactions from the comfort of your home or office.
- Security: Reduces the risk of manual errors associated with traditional methods.
- Essential for Online Payments: Required for various online activities, including salary transfers, bill payments, and e-commerce transactions.
- Direct Deposit: Allows employers or institutions to directly deposit funds into your account.
Contact Information
For any queries or assistance related to the Bihar Gramin Bank PALIGANJ branch or the bank’s services, you can use the following contact details:
- PALIGANJ Branch Phone Number: 9771464320
- PALIGANJ Branch Address: PALIGANJ, Patna, 801110
- Bihar Gramin Bank Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
- Toll-Free Number (Bihar Gramin Bank): 18001807777
Frequently Asked Questions (FAQs)
1. What is the full form of IFSC?
IFSC stands for Indian Financial System Code. It is an eleven-character code used for electronic fund transfers in India.
2. Is the IFSC code for Bihar Gramin Bank PALIGANJ branch permanent?
Generally, an IFSC code for a specific branch is permanent. However, changes can occur due to bank mergers, branch relocation, or administrative restructuring. As mentioned, previous codes for UBGB and DBGB are now invalid due to the merger, and PUNB0MBGB06 is the current valid code for this branch.
3. What happens if I use an incorrect IFSC code during a fund transfer?
If you use an incorrect IFSC code, the transaction will likely fail. The banking system will detect that the code does not match the beneficiary’s bank and account details, and the transfer will be rejected. In some cases, if the incorrect code corresponds to another valid branch and account number, the funds might be transferred to the wrong recipient. Always verify the IFSC code carefully.
4. Can I find the IFSC code on my passbook or cheque book?
Yes, the IFSC code is typically printed on the first page of your bank passbook and on individual cheque leaves of your cheque book. It is usually found near the branch address or account number.
5. Is an IFSC code required for cash deposits at the branch?
No, an IFSC code is generally not required for cash deposits made directly at the bank branch counter. The branch staff can identify the account using the account number and other details. The IFSC code is specifically for electronic fund transfers from one bank to another.
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.