Bihar Gramin Bank Balwahat IFSC Code

When you need to send or receive money through electronic transfers in India, understanding bank codes is crucial. For residents and businesses in Balwahat, Saharsa, Bihar, the correct Indian Financial System Code (IFSC) for your local Bihar Gramin Bank branch ensures your transactions go smoothly. This code is essential for all major digital payment systems like National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS), and Immediate Payment Service (IMPS), connecting your account to the wider banking network.

Bihar Gramin Bank Balwahat Branch Details

Bank Name	Bihar Gramin Bank
Branch Name	Balwahat
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	100721
Branch Address	Balwahat, SAHARSA, 852217
Contact Number	9297954229
City	SAHARSA
District	SAHARSA
Region	SAHARSA
Pincode	852217
State	Bihar

Important Merger Update for Bihar Gramin Bank Customers

The banking landscape in rural Bihar has seen significant consolidation. Historically, banks like Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB) played a vital role. These banks, along with others, have been part of a larger merger and restructuring process. The objective was to create stronger and more efficient Regional Rural Banks (RRBs) under the sponsorship of major public sector banks.

Today, many of these entities operate under a unified structure, sponsored by Punjab National Bank (PNB). As a direct result of these mergers, the IFSC code system has been streamlined. For the Bihar Gramin Bank, Balwahat branch, and many other branches that might have previously belonged to UBGB or DBGB, the new and only valid IFSC code for all electronic fund transfers is PUNB0MBGB06.

It is crucial to understand that any old IFSC codes associated with former Uttar Bihar Gramin Bank or Dakshin Bihar Gramin Bank branches are now revoked. Using an old or incorrect IFSC code will lead to transaction failures. Always ensure you use the updated code, PUNB0MBGB06, for all your NEFT, RTGS, and IMPS transactions to the Bihar Gramin Bank Balwahat branch.

Understanding the IFSC Code

The IFSC Code, or Indian Financial System Code, is an 11-character alphanumeric code. It uniquely identifies every bank branch participating in online fund transfers in India. The Reserve Bank of India (RBI) assigns these codes.

Here’s how the IFSC code PUNB0MBGB06 is structured:

• The first four characters represent the bank. In this case, “PUNB” stands for Punjab National Bank, which is the sponsoring bank for Bihar Gramin 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 the Balwahat branch, “MBGB06” uniquely points to it within the Bihar Gramin Bank structure. “MBGB” specifically refers to Madhya Bihar Gramin Bank, one of the entities under the Punjab National Bank sponsorship.

This unique identifier ensures that your funds are directed to the correct bank and branch without errors, even if multiple branches share similar names or locations.

How to Use the IFSC Code for Fund Transfers

Using the IFSC code is a straightforward process when setting up an electronic fund transfer. Here are the steps for NEFT, RTGS, and IMPS:

1. Log In to Your Banking Platform: Access your net banking account or mobile banking app.
2. Select Fund Transfer Option: Choose either NEFT, RTGS, or IMPS, depending on the amount and urgency of your transfer.
3. Add Beneficiary Details: If you are sending money to someone for the first time, you will need to add them as a beneficiary. This involves providing their details.
4. Enter Beneficiary Bank Information:
   • Beneficiary Account Holder Name
   • Beneficiary Account Number (double-check for accuracy)
   • Beneficiary Bank Name (e.g., Bihar Gramin Bank)
   • Beneficiary Branch Name (e.g., Balwahat)
   • IFSC Code: Enter PUNB0MBGB06 carefully.
5. Specify Amount and Remarks: Enter the amount you wish to transfer and any relevant remarks.
6. Confirm and Authorize: Review all details, especially the account number and IFSC code, before confirming the transaction. You may need to authorize the transfer using an OTP or transaction password.

Always double-check the IFSC code and account number before initiating any transfer. A small error can cause delays or misdirection of funds.

Key Benefits of Knowing Your IFSC Code

Having the correct IFSC code readily available offers several practical advantages for secure and efficient banking:

• Enables Electronic Transfers: It is mandatory for NEFT, RTGS, and IMPS, allowing you to send and receive money digitally.
• Ensures Accuracy: The unique 11-character code directs funds to the exact intended branch, reducing errors.
• Speeds Up Transactions: Correct IFSC entry helps process your transfers quickly and efficiently.
• Enhances Security: It adds a layer of verification, ensuring money goes to the right recipient bank and branch.
• Facilitates Interbank Transactions: Allows seamless money movement between different banks and their branches across India.
• Required for Online Payments: Many online payment platforms and billing systems require the IFSC for direct bank transfers.

Contact Information for Bihar Gramin Bank, Balwahat Branch

Should you have any questions or require assistance related to the Balwahat branch, you can use the following contact details:

• Balwahat Branch Phone Number: 9297954229
• Balwahat Branch Address: Balwahat, SAHARSA, 852217, Bihar
• Bihar Gramin Bank Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Customer Service Number: 18001807777

Frequently Asked Questions (FAQs)

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

Q1: What does IFSC stand for and why is it important?
A1: IFSC stands for Indian Financial System Code. It is an 11-character alphanumeric code that uniquely identifies every bank branch in India. It is crucial because it acts like a digital address, ensuring that money transferred electronically (via NEFT, RTGS, IMPS) reaches the correct bank and branch.

Q2: Can I use an old IFSC code for a Bihar Gramin Bank branch if I still have it?
A2: No, it is strongly advised against using old IFSC codes. Due to bank mergers and restructuring, many old codes, particularly those from former Uttar Bihar Gramin Bank or Dakshin Bihar Gramin Bank, are now revoked. Always use the current and valid IFSC code, like PUNB0MBGB06 for the Balwahat branch, to avoid transaction failures.

Q3: What is the difference between IFSC and MICR codes?
A3: The IFSC code (Indian Financial System Code) is used for electronic fund transfers (NEFT, RTGS, IMPS). The MICR code (Magnetic Ink Character Recognition) is a 9-digit numerical code typically found on cheque leaves. It is mainly used for processing paper-based cheque payments to speed up clearance.

Q4: What happens if I enter a wrong IFSC code during a transaction?
A4: If you enter an incorrect IFSC code, your transaction will likely fail immediately. The banking system will detect that the code does not match the beneficiary’s bank and branch. In some rare cases, if the wrong IFSC code points to another valid branch and the account number also matches, the money might go to the wrong account. Therefore, always double-check the IFSC code carefully.

Q5: Where can I find the correct IFSC code for my bank branch?
A5: You can find the correct IFSC code on your chequebook, bank passbook, or your bank’s official website. Reputable financial websites, like this article, also provide accurate IFSC information. Always verify the code from a trusted source before initiating a transfer.