Bihar Gramin Bank GOLA BAZAR IFSC Code

This article provides details for the Bihar Gramin Bank branch located in GOLA BAZAR, Rohtas, Bihar. Understanding the Indian Financial System Code, or IFSC, is crucial for anyone needing to transfer funds electronically. This unique 11-character code is essential for various online transactions such as National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS), and Immediate Payment Service (IMPS). It helps ensure your money reaches the correct bank and specific branch, making your financial transfers safe and accurate.

Branch Details

Here are the complete details for the Bihar Gramin Bank, GOLA BAZAR branch:

Bank Name	Bihar Gramin Bank
Branch Name	GOLA BAZAR
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	7424
Branch Address	GOLA BAZAR, Rohtas, 821115, 9771464424
Contact Number	9771464424
City	Rohtas
District	Rohtas
Region	SASARAM
Pincode	821115
State	Bihar

Merger Update

For customers of regional rural banks in Bihar, it is important to be aware of recent consolidations. Previously, banks like Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB) operated with their own distinct IFSC codes. However, these banks, along with others such as Madhya Bihar Gramin Bank, have undergone mergers and now operate under the sponsorship of Punjab National Bank.

As a result of these consolidations, a unified IFSC code system is in place for many of these merged entities. For example, the GOLA BAZAR branch of Bihar Gramin Bank now uses the IFSC code PUNB0MBGB06. This new code replaces older IFSCs that were previously issued to individual branches of the erstwhile Uttar Bihar Gramin Bank or Dakshin Bihar Gramin Bank. It is crucial to use only the new, updated IFSC code PUNB0MBGB06 for all your fund transfers to this branch, as old codes are no longer valid for transactions.

What is an IFSC Code?

An IFSC code is an 11-character alphanumeric code used to identify all bank branches participating in online money transfers in India. Think of it as a unique digital address for a specific bank branch.

• The first four characters represent the bank name. For the Bihar Gramin Bank, GOLA BAZAR branch, the first four characters are PUNB, indicating Punjab National Bank, which is its sponsor bank.
• The fifth character is always zero (0). This character is reserved for future use and helps distinguish between bank and branch codes.
• The last six characters identify the specific branch. For the GOLA BAZAR branch, these are MBGB06.

This structured format ensures that every branch has a unique identifier, preventing errors in financial transactions.

How to Use IFSC Code

Using an IFSC code is straightforward when you are making online fund transfers. Here are the steps involved for services like NEFT, RTGS, and IMPS:

1. Log In: Access your net banking portal or mobile banking application using your credentials.
2. Select Fund Transfer: Navigate to the ‘Fund Transfer’ or ‘Payments’ section within your banking interface.
3. Choose Transfer Type: Select the type of transfer you wish to make: NEFT, RTGS, or IMPS.
4. Add/Select Beneficiary: If you are sending money to a new person or entity, you will need to add them as a new beneficiary. If they are already saved, you can select their details.
5. Enter Beneficiary Details: Provide the beneficiary’s full name, their account number (you may need to enter it twice for confirmation), and the critical IFSC code (e.g., PUNB0MBGB06 for GOLA BAZAR branch).
6. Enter Amount: Specify the amount of money you wish to transfer.
7. Confirm Transaction: Review all the entered details carefully. Once you confirm, the transaction will be processed. You might receive an OTP (One-Time Password) to complete the transfer.

Benefits of Knowing Your IFSC Code

Knowing the correct IFSC code for your bank branch or the recipient’s branch offers several important benefits:

• Ensures Accuracy: It directs funds to the exact bank branch, preventing misdirection of money.
• Facilitates Online Transfers: It is mandatory for all major online fund transfer methods like NEFT, RTGS, and IMPS.
• Speeds Up Transactions: The unique identification helps in quick processing of electronic payments.
• Security: By verifying the branch, it adds a layer of security to your financial transactions.
• Convenience: Allows you to send or receive money from anywhere, anytime, without needing to visit a physical bank branch.

Contact Information

For any queries or assistance related to the Bihar Gramin Bank, GOLA BAZAR branch, you can use the following contact details:

• Branch Phone Number: 9771464424
• Branch Address: GOLA BAZAR, Rohtas, 821115, Bihar
• Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

Frequently Asked Questions (FAQs)

Q1: What does IFSC stand for?
A1: IFSC stands for Indian Financial System Code. It is an 11-character alphanumeric code that uniquely identifies every bank branch in India participating in online money transfers.

Q2: Is the IFSC code unique for every bank branch?
A2: Yes, absolutely. Each bank branch has its own distinct IFSC code. Even if two branches belong to the same bank in the same city, they will have different IFSC codes because the last six characters are unique to the branch.

Q3: Why is the fifth character in an IFSC code always zero?
A3: The fifth character in an IFSC code is always a ‘0’ (zero). This character is kept as a control character for future use and helps maintain a standardized format while also separating the bank code from the branch code part of the IFSC.

Q4: Can I transfer money online without an IFSC code?
A4: No, an IFSC code is mandatory for all interbank electronic fund transfers within India using NEFT, RTGS, or IMPS. Without it, the transaction cannot be processed as the system needs to identify the exact recipient branch.

Q5: How can I confirm the correct IFSC code for a bank branch?
A5: You can confirm the correct IFSC code by checking the bank’s official website, the passbook or cheque book issued by the branch, or by contacting the bank’s customer service. For the Bihar Gramin Bank, GOLA BAZAR branch, the correct IFSC is PUNB0MBGB06.