Bihar Gramin Bank Mahua Bazar IFSC Code

If you’re looking to transfer funds to or from the Bihar Gramin Bank branch at Mahua Bazar in Saharsa, Bihar, understanding the Indian Financial System Code (IFSC) is essential. This unique 11-character code is vital for secure and accurate online money transfers through systems like NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), and IMPS (Immediate Payment Service). Knowing the correct IFSC code ensures your money reaches the right bank and branch quickly and without issues.

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Branch Details

Bank Name	Bihar Gramin Bank
Branch Name	Mahua Bazar
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	100792
Branch Address	Mahua Bazar, SAHARSA, 847452
Contact Number	9297954258
City	SAHARSA
District	SAHARSA
Pincode	847452
State	Bihar

Merger Update

Bihar Gramin Bank, like many regional rural banks in India, has undergone a series of mergers and consolidations to streamline banking operations and enhance service delivery. Currently, it operates under the sponsorship of Punjab National Bank. This is why the IFSC code for the Mahua Bazar branch begins with “PUNB” (for Punjab National Bank) and includes “MBGB” (which often indicates a merged Gramin Bank structure). It’s crucial to understand that any old IFSC codes that might have been used by this branch or related entities prior to these mergers are now revoked and invalid. For all your digital fund transfers to this specific Mahua Bazar branch, only the new, standardized IFSC code, PUNB0MBGB06, is valid and must be used. Using an outdated IFSC code will result in transaction failure.

What is an IFSC Code?

The IFSC Code is an 11-character alpha-numeric code that uniquely identifies every bank branch participating in online money transfers in India. It acts like a digital address for the branch. The structure of the IFSC code is standardized:

• The first four characters represent the bank name. For PUNB0MBGB06, “PUNB” stands for Punjab National Bank, the sponsor bank.
• The fifth character is always a “0” (zero). This character is reserved for future use and helps differentiate the bank code from the branch code.
• The last six characters identify the specific bank branch. In our example, “MBGB06” uniquely identifies the Mahua Bazar branch.

This structure ensures that each bank and its individual branches have a distinct identity for seamless electronic transactions.

How to Use the IFSC Code

When you need to send money online through NEFT, RTGS, or IMPS, the IFSC code is a mandatory detail. Here’s a general guide on how to use it:

1. Log in to your Net Banking or Mobile Banking App: Access your bank’s online platform.
2. Select the Transfer Option: Choose “NEFT,” “RTGS,” or “IMPS” depending on the transfer amount and urgency.
3. Add Beneficiary Details: If you’re sending money to someone for the first time, you’ll need to add them as a beneficiary. This involves providing:
   • Beneficiary’s Name
   • Beneficiary’s Bank Account Number (confirm this carefully)
   • Beneficiary’s Bank Name (Bihar Gramin Bank)
   • Beneficiary’s Branch Name (Mahua Bazar)
   • Beneficiary’s IFSC Code (PUNB0MBGB06)
4. Verify and Confirm: Double-check all the entered details, especially the account number and IFSC code, to prevent errors.
5. Enter Amount and Remarks: Input the amount you wish to transfer and any remarks if required.
6. Authorize Transaction: Complete the transfer using your transaction password or OTP (One Time Password).

For subsequent transfers to the same beneficiary, you typically only need to select their name from your saved list and enter the amount.

Benefits of Knowing Your IFSC Code

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

• Secure Fund Transfers: It ensures your money reaches the intended recipient’s bank account and branch, reducing the risk of misdirected funds.
• Mandatory for Online Transactions: IFSC is essential for all major electronic fund transfer systems like NEFT, RTGS, and IMPS.
• Faster Processing: Correct IFSC codes help banks process transactions more efficiently, leading to quicker crediting of funds.
• Avoid Transaction Failures: Using an accurate IFSC code prevents your transactions from being rejected or delayed.
• Convenient Banking: It simplifies the process of sending and receiving money digitally, making banking more convenient.
• Identity of Branch: It acts as a unique identifier for each bank branch, eliminating ambiguity.

Contact Information

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

• Branch Phone Number: 9297954258
• Branch Address: Mahua Bazar, SAHARSA, 847452, Bihar
• Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

FAQs

Q1: Why is the fifth character of the IFSC code always a zero?
A1: The fifth character is always ‘0’ (zero) in an IFSC code. This is a control character reserved for future use. It also helps in differentiating the bank code part from the branch code part of the IFSC.

Q2: Can I use an old IFSC code if I still have it from before the bank mergers?
A2: No, it is critical to use only the current and valid IFSC code. Old IFSC codes, especially those from before bank mergers or consolidations, are likely revoked and will cause your transaction to fail. Always confirm the latest IFSC code, like PUNB0MBGB06 for the Mahua Bazar branch.

Q3: Is the IFSC code different for every branch of Bihar Gramin Bank?
A3: Yes, each individual bank branch in India has its own unique IFSC code. Even within the same bank, different branches will have different last six characters in their IFSC code, which identifies that specific branch.

Q4: What happens if I accidentally use the wrong IFSC code during a transfer?
A4: If you use an incorrect IFSC code, the transaction will most likely fail immediately and the funds will not be debited from your account or will be reversed. In some rare cases, if the incorrect IFSC code corresponds to another valid bank branch and the account number also matches, your funds could be credited to the wrong account. Therefore, always verify the IFSC code carefully.

Q5: Where can I find the correct IFSC code for a bank branch?
A5: You can find the correct IFSC code on your bank’s passbook or cheque book. It is also available on the official website of your bank or the Reserve Bank of India (RBI). Online banking portals and mobile apps also display the IFSC code for beneficiary addition.