Bihar Gramin Bank Bhagwatpur IFSC Code

Welcome to Bhagwatpur, a vibrant locality in the Samastipur district of Bihar. When you need to send or receive money electronically, understanding your bank’s IFSC code is crucial. This unique 11-character code ensures that your funds reach the correct bank and branch without any issues, whether you’re using NEFT, RTGS, or IMPS for your transactions. It acts as a digital address, making financial transfers smooth and secure.

Branch Details

Here are the key details for the Bihar Gramin Bank, Bhagwatpur branch:

Bank Name	Bihar Gramin Bank
Branch Name	Bhagwatpur
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	3905
Branch Address	Bhagwatpur, Samastipur, 848127, 9955997825
Contact Number	9955997825
City	Samastipur
District	Samastipur
Reason	SAMASTIPUR
Pincode	848127
State	Bihar

Merger Update for Regional Rural Banks in Bihar

The Bihar Gramin Bank, Bhagwatpur branch, now operates under the umbrella of Madhya Bihar Gramin Bank (MBGB). This bank is sponsored by Punjab National Bank (PNB). It’s important to understand the significant changes concerning regional rural banks in Bihar.

Both Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB) have undergone mergers. These consolidations have led to a unified banking structure for many regional rural banks in the state. As a result, branches that previously belonged to UBGB or DBGB now also use a standardized IFSC code format under Punjab National Bank’s sponsorship. For the Bhagwatpur branch and similar merged entities, the current valid IFSC code is PUNB0MBGB06.

Old IFSC codes, particularly those associated with UBGB and DBGB, have been revoked and are no longer valid for any banking transactions. Always ensure you use the most current and accurate IFSC code, like PUNB0MBGB06, for all your electronic fund transfers to avoid delays or rejections.

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 crucial for ensuring that money is sent to the correct beneficiary bank and branch.

The structure of the IFSC code is straightforward:

• The first four characters represent the bank name. For the Bhagwatpur branch’s IFSC, PUNB0MBGB06, ‘PUNB’ identifies Punjab National Bank, which is the sponsoring bank for Madhya Bihar Gramin Bank.
• The fifth character is always ‘0’ (zero). This is a control character reserved for future use.
• The last six characters uniquely identify the specific bank branch. In our example, ‘MBGB06’ precisely points to the Bhagwatpur branch.

This organized structure helps the Reserve Bank of India (RBI) efficiently route electronic payments across the country.

How to Use the IFSC Code

Using the IFSC code for electronic fund transfers is simple and ensures your money goes to the right place. Here’s how you typically use it for NEFT, RTGS, and IMPS:

1. Log In to Your Bank’s Online Portal or Mobile App: Access your internet banking account or mobile banking application.
2. Select the Fund Transfer Option: Choose between NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), or IMPS (Immediate Payment Service) based on your needs.
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 twice for accuracy)
   • Confirm Beneficiary’s Account Number
   • Bank Name (e.g., Madhya Bihar Gramin Bank)
   • IFSC Code: Enter PUNB0MBGB06 for the Bhagwatpur branch.
   • Account Type (e.g., Savings, Current)
5. Verify Details: Always double-check all the entered information, especially the account number and IFSC code, before proceeding.
6. Enter Amount and Transfer: Input the amount you wish to transfer and confirm the transaction. For RTGS, the minimum transaction amount is usually Rs. 2 Lakh. NEFT and IMPS have no minimum, but daily limits apply.

Once confirmed, the funds will be transferred to the beneficiary’s account. IMPS transfers are almost instant, while NEFT and RTGS operate in batches or real-time during banking hours.

Benefits of Knowing Your IFSC Code

Knowing the correct IFSC code for your bank branch, or for the person you are sending money to, offers several advantages:

• Accurate Transfers: It ensures that your funds are transferred to the precise bank branch of the beneficiary, reducing the risk of errors.
• Quick Processing: With the correct IFSC, electronic fund transfers like NEFT, RTGS, and IMPS are processed efficiently, allowing for swift movement of money.
• National Reach: It facilitates seamless interbank fund transfers across different banks and branches anywhere in India.
• Enhanced Security: The unique identification helps in tracking transactions and adds a layer of security to your financial dealings.
• Avoids Delays: Using the right IFSC code prevents transaction failures or delays that can occur due to incorrect bank or branch identification.

Contact Information

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

• Branch Phone Number: 9955997825
• Branch Address: Bhagwatpur, Samastipur, 848127, Bihar
• Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

Frequently Asked Questions

Here are some common questions about IFSC codes:

Q1: What is the full form of IFSC?
A1: IFSC stands for Indian Financial System Code. It’s a critical code for electronic fund transfers in India.

Q2: Is the fifth character of an IFSC code always zero?
A2: Yes, the fifth character of every IFSC code is always ‘0’ (zero). It serves as a control character for future use by the Reserve Bank of India.

Q3: Can I use an old IFSC code if my bank branch merged with another?
A3: No, after a bank merger or any change in a branch’s details, old IFSC codes become invalid. You must always use the new, updated IFSC code for all transactions. Using an old code will likely result in a failed transaction.

Q4: What is the main difference between an IFSC code and an MICR code?
A4: An IFSC code (Indian Financial System Code) is used for online fund transfers (NEFT, RTGS, IMPS) and identifies a bank and its specific branch. An MICR code (Magnetic Ink Character Recognition) is a 9-digit code primarily used for processing paper-based transactions, like clearing cheques, and is found at the bottom of a cheque leaf.

Q5: Is it mandatory to use the IFSC code for all online fund transfers?
A5: Yes, the IFSC code is mandatory for all electronic fund transfers initiated through NEFT, RTGS, and IMPS within India. It is how the banking system accurately directs your money to the correct destination branch.