Bihar Gramin Bank Mahishi IFSC Code

In Mahishi, Saharsa, Bihar, understanding your bank’s Indian Financial System Code (IFSC) is crucial for managing your money digitally. This unique code acts like a digital address, ensuring that when you send or receive funds through systems like National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS), or Immediate Payment Service (IMPS), your money goes to the correct bank and specific branch. It’s a key piece of information for secure and efficient electronic transactions.

Branch Details Table

Bank Name	Bihar Gramin Bank
Branch Name	Mahishi
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	100705
Branch Address	Mahishi, SAHARSA, 852219
Contact Number	9297954256
City	SAHARSA
District	SAHARSA
Region	SAHARSA
Pincode	852219
State	Bihar

Merger Update

The Bihar Gramin Bank, including its Mahishi branch, was formed from the merger of Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB). It is currently sponsored by Punjab National Bank.

As a result of this restructuring, the Mahishi branch now uses the single, standardized IFSC code: PUNB0MBGB06. It is important to note that any old IFSC codes previously used for Uttar Bihar Gramin Bank or Dakshin Bihar Gramin Bank branches are now revoked and are no longer valid for any fund transfers. For all future electronic transactions involving the Bihar Gramin Bank Mahishi branch, you must use PUNB0MBGB06.

What is an IFSC Code?

IFSC stands for Indian Financial System Code. It is an 11-character alphanumeric code that uniquely identifies every bank branch participating in online fund transfers within India. This code is standardized by the Reserve Bank of India (RBI) to ensure smooth and error-free digital transactions.

The structure of the IFSC code is specific:

• The first four characters represent the bank name. For the Mahishi branch’s IFSC (PUNB0MBGB06), “PUNB” clearly indicates Punjab National Bank, the sponsor bank.
• The fifth character is always a zero (0). This character is reserved for future use, possibly for internal bank codes.
• The last six characters identify the specific branch. In this case, “MBGB06” uniquely points to the Mahishi branch of Bihar Gramin Bank.

How to Use an IFSC Code

When you initiate an online fund transfer using NEFT, RTGS, or IMPS, the IFSC code is a mandatory detail you need to provide. Here’s a brief guide on how it’s used:

1. Gather Beneficiary Details: Before starting any transfer, make sure you have the recipient’s full name, bank account number, bank name, branch name, and the correct IFSC code. For the Mahishi branch of Bihar Gramin Bank, this would be PUNB0MBGB06.
2. Log In to Your Net Banking or Mobile Banking App: Access your bank’s online platform.
3. Select Transfer Type: Choose the appropriate fund transfer method:
   • NEFT (National Electronic Funds Transfer): Typically used for smaller to medium amounts. Transactions are processed in batches throughout the day.
   • RTGS (Real Time Gross Settlement): Designed for large-value transactions, usually above ₹2 lakhs. Funds are settled individually and in real-time.
   • IMPS (Immediate Payment Service): Offers instant, 24/7 fund transfers, even on holidays. There are limits on the maximum transfer amount.
4. Add Beneficiary: If you haven’t transferred money to this recipient before, you’ll need to add them as a new beneficiary. You’ll input their account number, name, and the IFSC code (PUNB0MBGB06 for Mahishi branch). The system will usually auto-fill the bank and branch name once the IFSC is entered correctly.
5. Initiate Transfer: Once the beneficiary is added and verified, you can proceed to enter the amount you wish to send and complete the transaction.

The IFSC code ensures that your funds are routed accurately to the intended bank and branch, minimizing the chances of errors and delays.

Benefits of Knowing Your IFSC Code

Having easy access to your bank’s IFSC code offers several practical advantages:

• Enables Online Fund Transfers: It is essential for sending and receiving money through NEFT, RTGS, and IMPS.
• Ensures Accuracy: The unique branch identifier prevents funds from being sent to the wrong bank or branch.
• Facilitates Faster Transactions: Proper use of the IFSC code helps in quick processing of electronic payments.
• Required for Bill Payments: Many online bill payment services and e-commerce platforms ask for the IFSC code when linking your bank account.
• Useful for Auto-Debit Mandates: Setting up recurring payments or auto-debit instructions often requires the IFSC code.
• Supports Digital Banking: It’s a fundamental component for almost all digital banking services.

Contact Information

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

• Branch Phone Number: 9297954256
• Branch Address: Mahishi, SAHARSA, 852219, Bihar
• Bihar Gramin Bank Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number (Punjab National Bank sponsor): 18001807777

Frequently Asked Questions (FAQs)

Q1: What does IFSC stand for?

A1: IFSC stands for Indian Financial System Code. It’s a unique 11-character code used for electronic fund transfers in India.

Q2: Why is the fifth character of an IFSC code always zero?

A2: The fifth character is always ‘0’ (zero). This digit is reserved for future use and allows for potential expansion or changes in the banking system’s coding structure without needing to overhaul existing codes.

Q3: Can I transfer money online without an IFSC code?

A3: No, an IFSC code is mandatory for all inter-bank electronic fund transfers such as NEFT, RTGS, and IMPS. Without it, the transaction cannot be processed as the system wouldn’t know which specific bank branch to send the money to.

Q4: What happens if I use a wrong IFSC code during a transaction?

A4: If you enter an incorrect IFSC code, your transaction will likely fail immediately, and you will receive an error message. In some rare cases, if the incorrect IFSC code corresponds to another valid branch and the account number also matches a beneficiary at that branch, the funds might be transferred incorrectly. It’s crucial to always double-check the IFSC code.

Q5: Is the IFSC code the same as the MICR code?

A5: No, the IFSC code and MICR code are different. The IFSC code (Indian Financial System Code) is used for online fund transfers (NEFT, RTGS, IMPS). The MICR code (Magnetic Ink Character Recognition) is a 9-digit code primarily used for processing physical cheques. While both identify a bank branch, their purposes and formats are distinct.