Bihar Gramin Bank Patory IFSC Code

This article provides details for the Bihar Gramin Bank branch located in Patory, Samastipur, Bihar. Understanding the Indian Financial System Code (IFSC) for this branch is crucial for carrying out various electronic money transfers. The IFSC code acts as a unique identifier, ensuring that funds transferred through systems like NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), and IMPS (Immediate Payment Service) reach the correct bank and branch account quickly and securely.

Branch Details

Bank Name	Bihar Gramin Bank
Branch Name	Patory
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	3950
Branch Address	Patory, Samastipur, 848504, 9955997857
Contact Number	9955997857
City	Samastipur
District	Samastipur
Reason	Samastipur
Pincode	848504
State	Bihar

Merger Update

Bihar Gramin Bank operates as a Regional Rural Bank (RRB) sponsored by Punjab National Bank. Over time, several regional rural banks have undergone restructuring and mergers to streamline operations and services. It is important for customers to know that banks like Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB) have merged into entities that now often operate under a unified structure, sponsored by larger public sector banks.

For Bihar Gramin Bank, including its Patory branch, the current and valid IFSC code is PUNB0MBGB06. This code is issued under the aegis of Punjab National Bank, the sponsoring bank. This means that any previous IFSC codes associated with UBGB or DBGB for branches now under Bihar Gramin Bank are no longer valid for conducting electronic transactions. Always use the new and unified IFSC code, PUNB0MBGB06, for all your fund transfers to ensure they are processed correctly.

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 money transfers. This code is crucial for electronic fund transfer systems like NEFT, RTGS, and IMPS.

The structure of the IFSC code is straightforward:

• The first four characters represent the bank’s name. For example, “PUNB” in PUNB0MBGB06 stands for Punjab National Bank.
• The fifth character is always a ‘0’ (zero). This is kept as a control character for future use.
• The last six characters uniquely identify the specific branch of the bank. For the Patory branch, these are “MBGB06”.

This precise structure ensures that when you transfer money, it goes to the exact branch of the intended bank, preventing errors and improving security.

How to Use IFSC Code

The IFSC code is essential for making electronic fund transfers. Here’s how you typically use it for NEFT, RTGS, and IMPS transactions:

When you want to send money to someone, you will need the following beneficiary details:

• The beneficiary’s bank account number.
• The beneficiary’s full name as per bank records.
• The beneficiary’s bank name.
• The correct IFSC code for the beneficiary’s specific bank branch.

Here’s how it works with different transfer methods:

• NEFT (National Electronic Funds Transfer): This system processes transactions in batches. You provide the IFSC code along with other beneficiary details to initiate the transfer. The funds are settled periodically throughout the banking hours.
• RTGS (Real Time Gross Settlement): Designed for large-value transactions, RTGS processes transfers individually and continuously in real-time. The IFSC code helps ensure immediate transfer to the correct branch. There is usually a minimum transfer amount for RTGS, often INR 2 lakh.
• IMPS (Immediate Payment Service): IMPS allows instant, 24/7 fund transfers, even on holidays. You enter the IFSC code and other details, and the money is credited to the beneficiary’s account almost instantly.

Whether you are using online banking, a mobile banking app, or visiting your bank branch, providing the correct IFSC code is a critical step for successful and error-free electronic fund transfers.

Benefits of Knowing Your IFSC Code

Knowing the correct IFSC code for your bank branch, or for the beneficiary’s branch, offers several important advantages:

• Ensures Accuracy: It directs your funds precisely to the intended bank and branch, minimizing the risk of transfers going to the wrong account.
• Speeds Up Transfers: Accurate IFSC codes facilitate faster processing of NEFT, RTGS, and IMPS transactions, especially for real-time services like IMPS.
• Enhances Security: By identifying the exact destination, the IFSC code adds a layer of security to electronic transactions.
• Simplifies Online Banking: It’s a fundamental requirement for setting up beneficiaries and executing transactions through internet and mobile banking platforms.
• Reduces Manual Errors: Using the correct code automates part of the routing process, reducing potential human errors that could occur with manual handling.

Contact Information

For inquiries related to the Bihar Gramin Bank Patory branch, you can use the following details:

• Branch Phone Number: 9955997857
• Branch Address: Patory, Samastipur, 848504

For general inquiries or to reach the head office of Bihar Gramin Bank:

• 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 Patory branch?
A1: The IFSC code for Bihar Gramin Bank’s Patory branch is PUNB0MBGB06. This code is used for all electronic fund transfers to this specific branch.

Q2: Is the MICR code also important for bank transactions?
A2: Yes, the MICR (Magnetic Ink Character Recognition) code is important, primarily for processing physical cheques. The MICR code for Bihar Gramin Bank Patory branch is 800811002. While IFSC is for electronic transfers, MICR ensures fast and accurate processing of paper cheques.

Q3: Can I still use an old IFSC code for Bihar Gramin Bank if I had one previously?
A3: No, you should always use the current and valid IFSC code. Following mergers and restructuring, old IFSC codes for entities like Uttar Bihar Gramin Bank or Dakshin Bihar Gramin Bank that now fall under Bihar Gramin Bank, are no longer valid for transactions. Always use PUNB0MBGB06 for the Patory branch.

Q4: What is the main difference between NEFT and RTGS fund transfers?
A4: The main differences lie in processing time and transaction value. NEFT processes transactions in batches, usually with a slight delay, and there’s no minimum transfer amount. RTGS, on the other hand, processes transfers individually and in real-time, making it suitable for high-value transactions, typically starting from INR 2 lakh.

Q5: How can I verify an IFSC code to make sure it’s correct?
A5: You can verify an IFSC code by checking the official website of Bihar Gramin Bank or Punjab National Bank (as the sponsoring bank). Most bank passbooks, cheque books, and mobile banking apps also display the correct IFSC code for your branch. Always cross-reference to ensure accuracy before making a transfer.