Bihar Gramin Bank Madudabad IFSC Code

The Bihar Gramin Bank branch located in Madudabad, within the Samastipur district of Bihar, serves as a crucial financial hub for the local community. When you need to send or receive money electronically, especially for transfers using NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), or IMPS (Immediate Payment Service), knowing the correct IFSC (Indian Financial System Code) for this branch is essential. It acts like a unique digital address, ensuring your funds reach the right bank and branch quickly and securely.

Branch Details

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

Bank Name	Bihar Gramin Bank
Branch Name	Madudabad
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	3947
Branch Address	Madudabad, Samastipur, 848502
Contact Number	9955997854
City	Samastipur
District	Samastipur
Pincode	848502
State	Bihar

Merger Update for Bihar Gramin Bank

Previously, regional rural banks like Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB) operated with their own distinct IFSC codes. However, these banks have undergone a significant merger process. They now operate under the unified identity of Bihar Gramin Bank, and are sponsored by Punjab National Bank. As a result of this restructuring, all branches, including Madudabad, now use a single, standardized IFSC code.

The new, valid IFSC code for Bihar Gramin Bank, Madudabad branch, is PUNB0MBGB06. It is crucial to understand that any old IFSC codes associated with UBGB or DBGB branches are now revoked and will no longer work for transactions. Always use the current code, PUNB0MBGB06, for all your electronic fund transfers to ensure they are processed correctly.

What is an IFSC Code?

The IFSC (Indian Financial System Code) is an 11-character alphanumeric code used to identify all bank branches participating in electronic fund transfers across India. Each character in the code serves a specific purpose:

• The first four characters represent the bank name. For example, in PUNB0MBGB06, ‘PUNB’ stands for Punjab National Bank, which is the sponsoring bank for Bihar Gramin Bank.
• The fifth character is always a ‘0’ (zero). This character is reserved for future use and helps distinguish between bank and branch codes.
• The last six characters uniquely identify the specific bank branch. For the Madudabad branch, ‘MBGB06’ identifies it within the Bihar Gramin Bank network.

This unique code ensures that when you initiate a transaction, your money goes directly to the intended branch, preventing errors and delays.

How to Use the IFSC Code

The IFSC code is essential for sending money electronically through various methods. Here’s how it’s typically used:

• NEFT (National Electronic Funds Transfer): This system allows you to transfer money from your account to another bank account anywhere in India. When initiating an NEFT transaction through your bank’s online portal or a physical branch, you will need to provide the beneficiary’s name, account number, account type, and their bank’s IFSC code. For example, if you’re sending money to the Madudabad branch, you would enter PUNB0MBGB06.
• RTGS (Real Time Gross Settlement): RTGS is used for large-value transactions, typically above ₹2 lakh. Like NEFT, it requires the beneficiary’s IFSC code, account number, and other details to ensure immediate processing. The process is similar to NEFT, but the funds are transferred in real-time.
• IMPS (Immediate Payment Service): IMPS offers instant, 24/7 fund transfers, even on holidays. It’s often used for smaller, urgent transfers. When using IMPS via mobile banking or UPI apps, you’ll need the beneficiary’s IFSC code along with their account number or mobile number linked to their bank account.

In all these cases, the IFSC code acts as a crucial routing number, guiding your funds to the correct destination.

Benefits of Knowing the IFSC Code

Knowing the correct IFSC code for your bank branch, or the branch of your beneficiary, offers several important benefits:

• Ensures Accurate Transfers: It guarantees that your electronic fund transfer reaches the correct bank and specific branch, eliminating errors that could delay or misdirect your money.
• Facilitates Online Transactions: It is a mandatory requirement for all major online payment systems like NEFT, RTGS, and IMPS, enabling seamless digital banking.
• Speeds Up Processes: By providing the exact branch identification, the IFSC code helps banks process transactions more efficiently, leading to faster crediting of funds.
• Enhances Security: The unique code adds a layer of security by making sure funds are routed to validated bank accounts only.
• Simplifies Banking: For customers, it simplifies the process of sending and receiving money, making it user-friendly even for those new to electronic banking.

Contact Information

Should you need to reach out to Bihar Gramin Bank for any queries related to the Madudabad branch or general banking services, here are the relevant contact details:

• Madudabad Branch Phone Number: 9955997854
• Madudabad Branch Address: Madudabad, Samastipur, 848502
• Bihar Gramin Bank Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Customer Service Number: 18001807777

Frequently Asked Questions (FAQs)

What happens if I use an old IFSC code for Bihar Gramin Bank?

If you use an old or incorrect IFSC code for Bihar Gramin Bank, especially one that belonged to the previous UBGB or DBGB entities, your electronic fund transfer will likely fail. The transaction will be rejected, and your money will not be transferred. Always use the current valid code, PUNB0MBGB06, for the Madudabad branch.

Is the IFSC code for Bihar Gramin Bank Madudabad unique?

Yes, the IFSC code PUNB0MBGB06 is absolutely unique to the Bihar Gramin Bank, Madudabad branch. No other bank branch in India will have this exact same 11-character code. This uniqueness is what ensures funds are routed correctly.

Can I find the IFSC code on my passbook or chequebook?

Yes, the IFSC code is typically printed on your bank passbook and chequebook. It is usually found on the first page of the passbook or on the top left corner of a cheque leaf. Always double-check it against reliable sources if you are unsure, especially after bank mergers.

Do I need the IFSC code for cash deposits or withdrawals at the branch?

No, you typically do not need the IFSC code for basic cash deposits or withdrawals made physically at the bank branch counter where you hold an account. The IFSC code is primarily for electronic fund transfers between different banks or branches.

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 cheques, primarily used for processing cheques and identifying the bank and branch through magnetic ink technology. Both are unique identifiers but serve different purposes in the banking system.