Bihar Gramin Bank AKORHIGOLA IFSC Code

When you need to send or receive money for the Bihar Gramin Bank branch in AKORHIGOLA, Rohtas, knowing the Indian Financial System Code (IFSC) is essential. This unique code acts like a digital address for the branch, making sure your funds go to the correct bank and specific branch without error. It is vital for all electronic fund transfers in India, including NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), and IMPS (Immediate Payment Service).

Branch Details

Here are the key details for the Bihar Gramin Bank AKORHIGOLA branch:

Bank Name	Bihar Gramin Bank
Branch Name	AKORHIGOLA
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	7328
Branch Address	AKORHIGOLA, Rohtas, 821301
Contact Number	9771464328
City	Rohtas
District	Rohtas
Reason	SASARAM
Pincode	821301
State	Bihar

Merger Update for Gramin Banks

The financial landscape for regional rural banks in Bihar has seen significant changes. Earlier, banks like Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB) operated independently. However, these and other regional rural banks have merged to form a larger entity, Madhya Bihar Gramin Bank, which is sponsored by Punjab National Bank. As a result, a single, unified IFSC code system is now in use. The IFSC code PUNB0MBGB06 identifies branches of this merged entity under Punjab National Bank’s sponsorship.

It is important to note that any old IFSC codes previously used by UBGB or DBGB branches have been revoked. For any electronic fund transfer today, only the new, updated IFSC codes, such as PUNB0MBGB06 for the AKORHIGOLA branch, are valid. Using an old or incorrect code will cause your transaction to fail.

What is an IFSC Code?

The IFSC Code stands for Indian Financial System Code. It is an 11-character alphanumeric code assigned by the Reserve Bank of India (RBI) to uniquely identify every bank branch participating in online fund transfers. Think of it as a unique address for each branch in the banking network.

The structure of the IFSC code is specific:

• The first four characters represent the bank name. For 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 and acts as a control digit.
• The last six characters identify the specific branch. For PUNB0MBGB06, “MBGB06” uniquely points to the AKORHIGOLA branch of Bihar Gramin Bank (under the umbrella of Madhya Bihar Gramin Bank).

This organized structure ensures that every online transaction reaches the exact intended branch, minimizing errors and speeding up the process.

How to Use the IFSC Code

When you want to transfer money electronically using services like NEFT, RTGS, or IMPS, the IFSC code is a mandatory piece of information. Here’s how you generally use it:

• For NEFT (National Electronic Funds Transfer): This system allows you to transfer money from one bank account to another across India. NEFT transactions are processed in batches throughout the day. When you initiate an NEFT, you will enter the beneficiary’s bank name, branch name, account number, account type, and the IFSC code (e.g., PUNB0MBGB06 for AKORHIGOLA).
• For RTGS (Real Time Gross Settlement): RTGS is designed for large-value transactions, typically for amounts of 2 lakh rupees or more. Funds are transferred in real-time, meaning the transaction is settled individually and immediately. Similar to NEFT, you need the beneficiary’s bank name, branch, account number, and the correct IFSC code.
• For IMPS (Immediate Payment Service): IMPS offers instant, 24/7 fund transfers, even on holidays. It’s often used for smaller, urgent transfers. When making an IMPS transfer, whether through mobile banking or internet banking, you’ll input the beneficiary’s mobile number and MMID (Mobile Money Identifier) or their account number and IFSC code.

Always double-check the IFSC code, along with the account number, before confirming a transaction. Even a single digit error can lead to the funds being sent to the wrong account or the transaction failing.

Benefits of Knowing Your IFSC Code

Knowing the correct IFSC code for your bank branch offers several key advantages:

• Accuracy in Fund Transfers: It guarantees that your money is sent to the precise bank and branch you intend, preventing errors and lost funds.
• Faster Transactions: With the correct IFSC, electronic transfers like NEFT, RTGS, and IMPS are processed smoothly and quickly.
• Security: The unique identification helps maintain the integrity of the banking system by ensuring funds move between validated branches.
• Standardization: It provides a universal standard for identifying bank branches across India, simplifying inter-bank transactions.
• Convenience: It makes setting up new payees for online banking simple and direct.

Contact Information

If you need to get in touch with the bank, here are the contact details:

• AKORHIGOLA Branch Phone Number: 9771464328
• AKORHIGOLA Branch Address: AKORHIGOLA, Rohtas, 821301
• Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

Frequently Asked Questions

Here are some common questions about IFSC codes and their use:

Q: Is the IFSC code the same for all branches of Bihar Gramin Bank?
A: No, the IFSC code is unique for each specific branch of Bihar Gramin Bank. While the first few characters (PUNB0MBGB) might be similar across branches under the same umbrella, the last six characters will differ to identify each unique branch.

Q: What happens if I use a wrong IFSC code during a transfer?
A: If you use an incorrect IFSC code, your transaction will likely fail. The banking system relies on the code to route funds correctly. If the code doesn’t match the beneficiary’s bank and branch, the transfer cannot be completed and the funds will usually be returned to your account.

Q: Where can I find the IFSC code for my branch?
A: You can find your branch’s IFSC code on your cheque book, passbook, or bank statements. Most bank websites also have an IFSC finder tool. You can also contact your bank’s customer service for assistance.

Q: Is MICR code the same as IFSC code?
A: No, the MICR (Magnetic Ink Character Recognition) code is different from the IFSC code. The MICR code is a 9-digit code primarily used for processing cheques and is usually found at the bottom of a cheque leaf. The IFSC code, as discussed, is an 11-character code for electronic fund transfers.

Q: Can I use an old IFSC code from Uttar Bihar Gramin Bank for a transaction today?
A: No, if your branch was previously part of Uttar Bihar Gramin Bank, its old IFSC code is no longer valid. Due to the merger, you must use the new, consolidated IFSC code, such as PUNB0MBGB06, which identifies the branch under the current merged entity sponsored by Punjab National Bank.