Bihar Gramin Bank Nagar Basti IFSC Code

This article provides essential details about the Bihar Gramin Bank’s Nagar Basti branch, located in Samastipur, Bihar. Understanding the Indian Financial System Code (IFSC) for this branch is crucial for anyone needing to transfer funds digitally. The IFSC code is a unique identifier used for various electronic transactions, including National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS), and Immediate Payment Service (IMPS). It ensures that your money reaches the correct bank and branch without errors.

Branch Details Table

Bank Name	Bihar Gramin Bank
Branch Name	Nagar Basti
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	3984
Branch Address	Nagar Basti, Samastipur, 848101
Contact Number	9955035398
City	Samastipur
District	Samastipur
Pincode	848101
State	Bihar

Merger Update for Bihar Gramin Bank

Bihar Gramin Bank was formed from the merger of two regional rural banks: Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB). Following this merger, the bank now operates under the sponsorship of Punjab National Bank (PNB).

Due to this consolidation, all branches of the former Uttar Bihar Gramin Bank and Dakshin Bihar Gramin Bank now use a unified IFSC code structure, which begins with PUNB0MBGB. The IFSC code PUNB0MBGB06 for the Nagar Basti branch reflects this change. It is important to note that any old IFSC codes previously associated with UBGB or DBGB branches are now revoked and are no longer valid for any fund transfers. For all current and future transactions, only the new, standardized IFSC codes, such as PUNB0MBGB06, should be used.

What is an IFSC Code?

An IFSC (Indian Financial System Code) is an 11-character alphanumeric code that uniquely identifies every bank branch in India participating in electronic funds transfer systems. This code is crucial for ensuring that your money is transferred to the correct destination.

The structure of the IFSC code is as follows:

• The first four characters represent the bank. For example, in PUNB0MBGB06, “PUNB” stands for Punjab National Bank, the sponsor 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 character.
• The last six characters identify the specific branch. In PUNB0MBGB06, “MBGB06” identifies the Nagar Basti branch of Bihar Gramin Bank. “MBGB” likely signifies “Merged Bihar Gramin Bank,” and “06” is the specific branch identifier assigned to Nagar Basti.

How to Use the IFSC Code

You will need the IFSC code when initiating any digital fund transfer services like NEFT, RTGS, or IMPS. Here’s a general guide on how to use it:

1. Log In: Access your net banking portal or mobile banking application using your credentials.
2. Select Transfer Option: Choose the type of transfer you wish to make (NEFT, RTGS, or IMPS).
3. Add Beneficiary: If you are sending money to someone for the first time, you will need to add them as a beneficiary. This process usually requires the beneficiary’s name, their bank account number, and the IFSC code of their bank branch.
4. Enter Details: Provide the beneficiary’s account number and the IFSC code (PUNB0MBGB06 for Nagar Basti branch). The bank name and branch name will often auto-populate once the IFSC is entered.
5. Enter Amount: Specify the amount you wish to transfer.
6. Review and Confirm: Double-check all the details, especially the account number and IFSC code, to avoid any errors. Confirm the transaction.

For recurring transfers to an existing beneficiary, you will only need to select their name and enter the amount, as their bank details, including the IFSC code, are already saved.

Benefits of Knowing the IFSC Code

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

• Facilitates Digital Transfers: It is essential for initiating NEFT, RTGS, and IMPS, allowing for fast and efficient electronic fund transfers.
• Ensures Accuracy: The unique code helps route funds to the exact bank branch, minimizing the chances of transactions going to the wrong account.
• Standardized Identification: Provides a universal standard for identifying bank branches across India, making inter-bank transactions seamless.
• Prevents Errors: By uniquely identifying each branch, it helps in preventing mistakes that could occur if transfers were based solely on bank name and city.
• Streamlines Payments: Speeds up the process of making payments for bills, loans, or sending money to family and friends.

Contact Information

If you need to get in touch with the Bihar Gramin Bank, Nagar Basti branch, or the head office, here are the contact details:

• Branch Phone Number (Nagar Basti): 9955035398
• Branch Address (Nagar Basti): Nagar Basti, Samastipur, 848101, Bihar
• Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

Frequently Asked Questions (FAQs)

Q1: What is the IFSC code for Bihar Gramin Bank, Nagar Basti branch?
A1: The IFSC code for Bihar Gramin Bank, Nagar Basti branch, is PUNB0MBGB06.

Q2: Why is the IFSC code important for fund transfers?
A2: The IFSC code is crucial because it uniquely identifies the specific bank and branch for electronic fund transfers like NEFT, RTGS, and IMPS, ensuring your money reaches the correct destination.

Q3: Can I still use the old IFSC codes for Uttar Bihar Gramin Bank (UBGB) or Dakshin Bihar Gramin Bank (DBGB)?
A3: No, after the merger that formed Bihar Gramin Bank, all old IFSC codes for UBGB and DBGB branches have been revoked. You must use the new, unified IFSC codes, such as PUNB0MBGB06, for all transactions.

Q4: Is Bihar Gramin Bank associated with Punjab National Bank?
A4: Yes, Bihar Gramin Bank operates under the sponsorship of Punjab National Bank (PNB). This is reflected in its IFSC code, where “PUNB” represents Punjab National Bank.

Q5: What is the MICR code for the Nagar Basti branch?
A5: The MICR (Magnetic Ink Character Recognition) code for Bihar Gramin Bank, Nagar Basti branch, is 800811002. This code is primarily used for processing physical cheques.