Bihar Gramin Bank Madhubani Bazar – Purnea IFSC Code

This article provides details for the Bihar Gramin Bank branch located in Madhubani Bazar, Purnea. Understanding your bank’s Indian Financial System Code (IFSC) is vital for secure and efficient money transfers. Whether you’re sending or receiving funds through services like NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), or IMPS (Immediate Payment Service), the correct IFSC acts as a unique identifier for the specific bank branch involved in the transaction.

Branch Details Table

Here are the essential details for the Bihar Gramin Bank branch in Madhubani Bazar, Purnea:

Bank Name	Bihar Gramin Bank
Branch Name	Madhubani Bazar – Purnea
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	100834
Branch Address	Madhubani Bazar – Purnea, PURNIA, 854301, 9297954162
Contact Number	9297954162
City	PURNIA
District	PURNIA
Reason	PURNEA
Pincode	854301
State	Bihar

Merger Update

Bihar Gramin Bank is a Regional Rural Bank (RRB) sponsored by Punjab National Bank (PNB). Over the years, many such regional rural banks in India, including former entities like Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB), have undergone mergers and consolidation processes. This has led to a streamlining of their operations and a unified system for identifying branches.

As a result of these mergers and the sponsorship by Punjab National Bank, Bihar Gramin Bank branches now use IFSC codes that begin with “PUNB”. The IFSC code for Madhubani Bazar – Purnea branch is PUNB0MBGB06. This single, unified IFSC code is essential for all electronic fund transfers.

It is important to note that any old IFSC codes previously associated with branches of merged banks like UBGB or DBGB have been revoked. For any transactions with Bihar Gramin Bank, only the new IFSC code, such as PUNB0MBGB06, is valid and recognized.

What is IFSC Code?

The IFSC Code, or Indian Financial System Code, is an 11-character alpha-numeric code. It uniquely identifies every bank branch participating in the NEFT, RTGS, and IMPS systems across India. Think of it as a specific digital address for a bank branch.

The structure of the IFSC code is straightforward:

• The first four characters are alphabetic and represent the bank. For example, in PUNB0MBGB06, “PUNB” stands for Punjab National Bank, the sponsoring bank for Bihar Gramin Bank.
• The fifth character is always a zero (0). This character is reserved for future use and helps maintain uniqueness.
• The last six characters are alphanumeric. These uniquely identify the specific bank branch. In PUNB0MBGB06, “MBGB06” points to the Madhubani Bazar – Purnea branch.

How to Use IFSC Code

Using the IFSC code is a key part of making electronic fund transfers. Here’s how it works for common services:

• NEFT (National Electronic Funds Transfer): This system processes fund transfers in batches. When initiating an NEFT transaction through your bank’s online portal or mobile app, you will need to enter the beneficiary’s name, account number, bank name, and their branch’s IFSC code. The IFSC ensures the money goes to the correct branch.
• RTGS (Real Time Gross Settlement): RTGS is used for high-value transactions, typically for amounts Rs 2 lakh and above, processed individually in real-time. Similar to NEFT, you provide the beneficiary’s details, including their IFSC code, to ensure the immediate transfer of funds to their specific bank branch.
• IMPS (Immediate Payment Service): IMPS allows for instant, 24/7 fund transfers, even on holidays. For IMPS, you’ll need the beneficiary’s mobile number and MMID (Mobile Money Identifier) or their account number and IFSC code. The IFSC is crucial for directing the payment to the correct branch instantly.

Always double-check the IFSC code before confirming any transaction to avoid delays or incorrect transfers.

Benefits of Knowing Your IFSC Code

Knowing the correct IFSC code for your bank branch, or for someone you need to pay, offers several important benefits:

• It ensures your fund transfers are sent to the correct bank branch.
• It helps prevent errors and delays in transactions.
• It is mandatory for all types of online money transfers (NEFT, RTGS, IMPS).
• It provides a unique identity for every bank branch in the financial system.
• It allows for quicker processing of payments.

Contact Section

For inquiries related to the Madhubani Bazar – Purnea branch or general banking services, you can use the following contact information:

Branch Phone Number: 9297954162

Branch Address: Madhubani Bazar – Purnea, PURNIA, 854301, Bihar

Bihar Gramin Bank Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR

Toll-Free Number: 18001807777

FAQs

Here are some frequently asked questions about IFSC codes and Bihar Gramin Bank:

Q1: Is the IFSC code PUNB0MBGB06 valid for all Bihar Gramin Bank branches?
A1: No, the IFSC code PUNB0MBGB06 is specifically for the Madhubani Bazar – Purnea branch. Each Bihar Gramin Bank branch will have its own unique IFSC code, though they will all start with “PUNB0”.

Q2: Can I use an old IFSC code if I still have it?
A2: No, it is crucial to use only the current and valid IFSC code. Old IFSC codes, especially from pre-merger banks, are no longer functional for transactions and can lead to failed transfers.

Q3: What should I do if my online transfer fails due to an incorrect IFSC code?
A3: If a transaction fails because of an incorrect IFSC code, the funds are usually reverted to your account. You should verify the correct IFSC code and attempt the transaction again.

Q4: Where can I find the correct IFSC code for another Bihar Gramin Bank branch?
A4: You can typically find the correct IFSC code on the bank’s official website, your bank passbook, cheque book, or by contacting the bank’s customer service.

Q5: Is an IFSC code required for cash deposits or withdrawals at the branch?
A5: No, an IFSC code is generally not required for physical cash deposits or withdrawals made directly at the bank branch counter. It is primarily for electronic fund transfers.