The Bihar Gramin Bank branch in Malinagar, Samastipur, Bihar, serves as a vital financial hub for the local community. When you need to transfer funds securely and efficiently, knowing the correct Indian Financial System Code (IFSC) for this branch is essential. This unique code is required for online banking transactions like NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), and IMPS (Immediate Payment Service), ensuring your money reaches the right destination without delay.
Branch Details Table
| Bank Name | Bihar Gramin Bank |
| Branch Name | Malinagar |
| IFSC Code | PUNB0MBGB06 |
| MICR Code | 800811002 |
| Branch Code | 3935 |
| Branch Address | Malinagar, Samastipur, 848125, 9955997841 |
| Contact Number | 9955997841 |
| City | Samastipur |
| District | Samastipur |
| Reason | SAMASTIPUR |
| Pincode | 848125 |
| State | Bihar |
Merger Update
Bihar Gramin Bank, including its Malinagar branch, operates under the sponsorship of Punjab National Bank. This structure means that many of its services and codes are integrated with its sponsoring bank. Historically, regional rural banks in Bihar underwent consolidation to form larger, more efficient entities like Bihar Gramin Bank. This process often involved the merger of banks such as Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB) or similar institutions.
As part of this consolidation and standardization, a unified IFSC code system was adopted. The IFSC code PUNB0MBGB06 for Bihar Gramin Bank reflects this. The initial “PUNB0” identifies Punjab National Bank as the sponsor, and the “MBGB” part indicates a specific regional rural bank group, which in this case refers to Bihar Gramin Bank’s structure.
It is crucial to understand that any old IFSC codes previously used by individual regional rural banks that might have merged or contributed to the formation of Bihar Gramin Bank are now revoked. For any transactions with Bihar Gramin Bank, including the Malinagar branch, only the new, standardized IFSC code PUNB0MBGB06 is valid and should be used for all fund transfers.
What is IFSC Code?
IFSC stands for Indian Financial System Code. It is an 11-character alphanumeric code that uniquely identifies every bank branch in India participating in online fund transfers. This code is essential for ensuring that money is sent to the correct bank and branch.
The structure of an IFSC code is specific:
- The first four characters represent the bank code. For example, in PUNB0MBGB06, "PUNB" stands for Punjab National Bank, the sponsoring bank.
- The fifth character is always a zero (0). This character is reserved for future use and helps maintain the code’s uniqueness.
- The last six characters identify the specific branch. In PUNB0MBGB06, "MBGB06" points to the Malinagar branch within the Bihar Gramin Bank system.
How to Use IFSC Code
Using the IFSC code correctly is vital for successful online fund transfers. Here's how you would typically use it for different services:
For NEFT (National Electronic Funds Transfer):
- Log in to your bank's online banking portal or mobile app.
- Select the NEFT option for fund transfer.
- Add a new beneficiary or select an existing one.
- Enter the beneficiary's name, account number, bank name (Bihar Gramin Bank), and the correct IFSC code (PUNB0MBGB06).
- Specify the amount you wish to transfer and confirm the details.
For RTGS (Real Time Gross Settlement):
RTGS is used for high-value transactions, typically for amounts of ₹2 lakhs and above. The process is similar to NEFT:
- Access your online banking or visit your bank branch.
- Choose the RTGS fund transfer option.
- Provide the beneficiary's details: name, account number, Bihar Gramin Bank, and the IFSC code (PUNB0MBGB06).
- Enter the transfer amount and verify all information before confirming.
For IMPS (Immediate Payment Service):
IMPS allows for instant, 24/7 fund transfers. You can use it via mobile banking or internet banking:
- Open your bank's mobile app or internet banking site.
- Select the IMPS transfer option.
- Enter the beneficiary's mobile number and MMID (Mobile Money Identifier), or their account number and the IFSC code (PUNB0MBGB06).
- Input the amount and complete the transaction.
Always double-check the IFSC code and other beneficiary details before initiating any transfer to avoid errors and ensure the funds reach the intended recipient.
Benefits
Knowing and using the correct IFSC code offers several advantages for financial transactions:
- Accurate Transfers: It ensures that funds are routed to the precise bank and branch, minimizing the risk of errors.
- Speed and Efficiency: It facilitates quick processing of online transactions like NEFT, RTGS, and IMPS, allowing for faster money movement.
- Enhanced Security: The unique identification helps prevent fraudulent transfers by ensuring the correct details are always used.
- Interbank Transactions: It makes it possible to transfer money seamlessly between different banks across India.
- Specific Branch Identification: Each IFSC code points to a single branch, making it easy to identify the exact location of the recipient's account.
Contact Section
For any banking inquiries related to the Malinagar branch, you can use the following contact information:
- Branch Phone Number: 9955997841
- Branch Address: Malinagar, Samastipur, 848125
- Bihar Gramin Bank Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
- Toll-Free Number: 18001807777
FAQs
Q1: What is the IFSC code for Bihar Gramin Bank, Malinagar branch?
A1: The IFSC code for Bihar Gramin Bank, Malinagar branch, is PUNB0MBGB06.
Q2: Is Bihar Gramin Bank affiliated with Punjab National Bank?
A2: Yes, Bihar Gramin Bank operates under the sponsorship of Punjab National Bank. The "PUNB" in its IFSC code signifies this relationship.
Q3: Why did the IFSC code for some Bihar-based regional rural banks change?
A3: The IFSC codes changed due to the consolidation and standardization of regional rural banks in Bihar. This process led to banks like Bihar Gramin Bank adopting a unified IFSC system, often under the sponsorship of a larger public sector bank like Punjab National Bank. Old codes for previous entities are now invalid.
Q4: Can I use an old IFSC code for a transfer to Bihar Gramin Bank?
A4: No, you must use the current and valid IFSC code PUNB0MBGB06 for any transfers to Bihar Gramin Bank branches, including Malinagar. Old IFSC codes are no longer recognized for transactions.
Q5: What financial services require the use of an IFSC code?
A5: An IFSC code is essential for all major online fund transfer services, including NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), and IMPS (Immediate Payment Service).
Kritti Kumari is a banker and MBA graduate who writes about banking, finance, and customer-friendly services. She simplifies complex financial products into easy guides, helping readers understand Bihar Gramin Bank’s offerings and make smarter money decisions.