Bihar Gramin Bank MAGHIGAWAN IFSC Code

This article provides details for the Bihar Gramin Bank branch located in MAGHIGAWAN, Rohtas, Bihar. Understanding the Indian Financial System Code (IFSC) for this branch is very important. This unique 11-character code is essential for all electronic fund transfers in India, including transactions made through NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), and IMPS (Immediate Payment Service). Without the correct IFSC, you cannot send or receive money electronically from or to this specific branch.

Branch Details

Here are the key details for the Bihar Gramin Bank branch in MAGHIGAWAN:

Detail	Information
Bank Name	Bihar Gramin Bank
Branch Name	MAGHIGAWAN
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	6956
Branch Address	MAGHIGAWAN, Rohtas, 821304
Contact Number	7091596956
City	Rohtas
District	Rohtas
Reason	SASARAM
Pincode	821304
State	Bihar

Merger Update for Regional Rural Banks in Bihar

The IFSC code PUNB0MBGB06 indicates that this branch operates under the framework of Madhya Bihar Gramin Bank, which is sponsored by Punjab National Bank. Over time, several Regional Rural Banks (RRBs) in Bihar have undergone mergers and restructuring to streamline operations and enhance service delivery.

In cases where other regional rural banks, such as Uttar Bihar Gramin Bank (UBGB) or Dakshin Bihar Gramin Bank (DBGB), have undergone mergers or restructuring, their old IFSC codes are now revoked. For banks now under the Punjab National Bank sponsorship (like Madhya Bihar Gramin Bank, which uses IFSCs starting with PUNB0MBGB), only the new, standardized IFSC code is valid for transactions. It’s crucial to always use the current and correct IFSC code, like PUNB0MBGB06, for any electronic fund transfers to ensure the money reaches the intended recipient without issues.

What is an IFSC Code?

An IFSC code is an 11-character alphanumeric code used to identify all bank branches participating in the Indian electronic funds settlement systems. It’s unique to each branch and helps the banking system direct funds accurately.

• The first four characters represent the bank name. In the case of PUNB0MBGB06, “PUNB” stands for Punjab National Bank, which is the sponsoring bank.
• The fifth character is always a “0” (zero). This is kept as a control character for future use.
• The last six characters identify the specific branch. For PUNB0MBGB06, “MBGB06” uniquely identifies the MAGHIGAWAN branch of Madhya Bihar Gramin Bank.

This structured code ensures that funds are routed correctly to the exact branch across the country.

How to Use an IFSC Code

Using an IFSC code is straightforward when you want to send money electronically. Here’s how it generally works for NEFT, RTGS, and IMPS:

1. Log in to your online banking portal or mobile banking app: Access your bank’s digital platform.
2. Select the type of fund transfer: Choose between NEFT, RTGS, or IMPS, depending on the amount and urgency of your transfer.
3. Add a new beneficiary: If you’re sending money to someone for the first time, you’ll need to add them as a beneficiary.
4. Enter beneficiary details:
   • Beneficiary’s Name
   • Beneficiary’s Account Number (confirm this carefully)
   • Beneficiary’s Bank Name (e.g., Bihar Gramin Bank)
   • Beneficiary’s IFSC Code (e.g., PUNB0MBGB06 for MAGHIGAWAN branch)
5. Verify details and confirm: Double-check all entered information, especially the account number and IFSC code, to prevent errors. Once confirmed, the funds will be transferred.

When someone needs to send money to your Bihar Gramin Bank MAGHIGAWAN account, you will provide them with your account number and the IFSC code PUNB0MBGB06.

Benefits of Knowing Your IFSC Code

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

• It enables seamless and quick electronic fund transfers like NEFT, RTGS, and IMPS.
• It ensures that your money is transferred to the correct bank and branch, avoiding misdirection of funds.
• It is required for various financial activities, including setting up automatic bill payments, applying for loans, or managing investments.
• It allows you to receive payments efficiently from other banks or institutions.
• It reduces the need for physical visits to the bank for deposits or withdrawals, saving time and effort.

Contact Information

For any queries related to the Bihar Gramin Bank MAGHIGAWAN branch, you can use the following contact details:

• Branch Phone Number: 7091596956
• Branch Address: MAGHIGAWAN, Rohtas, 821304, Bihar
• Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number (Punjab National Bank Sponsored RRBs): 18001807777

Frequently Asked Questions (FAQs)

Q1: Is the IFSC code same for all branches of Bihar Gramin Bank?

No, each individual branch of Bihar Gramin Bank (or any bank) has its own unique IFSC code. While the first few characters (e.g., PUNB0) might be common for branches under the same sponsoring bank, the last six characters will be different to identify each specific branch, like MAGHIGAWAN’s MBGB06.

Q2: What is the difference between IFSC and MICR code?

The IFSC code is an 11-character alphanumeric code used for electronic fund transfers (NEFT, RTGS, IMPS). The MICR (Magnetic Ink Character Recognition) code is a 9-digit numerical code printed on cheque leaves, used primarily for processing cheques. They serve different purposes, though both help in identifying bank branches.

Q3: Can I use an old IFSC code if the bank has merged?

No, if a bank has merged or been restructured, its old IFSC codes are typically revoked and become invalid. You must always use the new, updated IFSC code for any transactions to ensure funds are transferred correctly. Using an old code will likely result in a failed transaction.

Q4: How can I find the IFSC code for another branch?

You can find the IFSC code for other branches on the bank’s official website, through your bank’s mobile app, by checking your chequebook or passbook, or by contacting the bank’s customer service. Reliable third-party financial websites also list IFSC codes.

Q5: Is an IFSC code required for international transfers?

While an IFSC code is crucial for domestic electronic transfers within India, international transfers typically require a SWIFT (Society for Worldwide Interbank Financial Telecommunication) code or BIC (Bank Identifier Code) instead. Your bank can provide the correct SWIFT/BIC code for international transactions.