Bihar Gramin Bank Parsotimpur IFSC Code

You’re looking for details about the Bihar Gramin Bank branch located in Parsotimpur, SARAN district, Bihar. This information is especially important when you need to send or receive money through electronic transfers. The IFSC (Indian Financial System Code) is a unique code that identifies each bank branch. It’s crucial for ensuring that your funds reach the correct destination quickly and securely when you use services like NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), or IMPS (Immediate Payment Service).

Branch Details

Here are the specific details for the Bihar Gramin Bank, Parsotimpur branch:

Detail	Information
Bank Name	Bihar Gramin Bank
Branch Name	Parsotimpur
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	100585
Branch Address	Parsotimpur, SARAN, 841224
Contact Number	9297955265
City	SARAN
District	SARAN
Region	CHAPRA
Pincode	841224
State	Bihar

Merger Update

Bihar Gramin Bank, where the Parsotimpur branch is located, is part of a larger consolidation process among regional rural banks in Bihar. For branches that were previously part of entities like Uttar Bihar Gramin Bank (UBGB) or Dakshin Bihar Gramin Bank (DBGB), these banks have merged into a unified structure. As a result, the new and only valid IFSC code for these consolidated entities, sponsored by Punjab National Bank, is PUNB0MBGB06. This means any old IFSC codes from UBGB or DBGB have been revoked and are no longer valid for any banking transactions. Always use the current code, PUNB0MBGB06, for secure and successful fund transfers.

What is an IFSC Code?

An IFSC (Indian Financial System Code) is an 11-character alpha-numeric code used to uniquely identify every bank branch participating in online money transfers in India. It’s essential for directing your funds to the precise branch you intend. Let’s break down its structure using our example, PUNB0MBGB06:

• The first four characters represent the bank’s name. In PUNB0MBGB06, “PUNB” stands for Punjab National Bank, which is the sponsoring bank for Madhya Bihar Gramin Bank.
• The fifth character is always ‘0’ (zero). This is kept as a control character for future use.
• The last six characters uniquely identify the specific bank branch. In our example, “MBGB06” points to the particular branch, Parsotimpur, within the Madhya Bihar Gramin Bank network.

How to Use an IFSC Code

Using the IFSC code is a straightforward process when you’re transferring money electronically. Here’s a general guide:

1. Gather Beneficiary Details: Before initiating any transfer, you’ll need the recipient’s full name, their bank account number, the name of their bank, their account type (savings or current), and critically, their bank’s IFSC code.
2. Select Transfer Method: Decide whether you want to use NEFT, RTGS, or IMPS. These options are usually available through your bank’s online banking portal or mobile app.
3. Add Beneficiary: If it’s your first time sending money to this person, you’ll need to add them as a beneficiary. This involves entering all the details you gathered, including the IFSC code. Your bank will usually verify these details.
4. Initiate Transfer: Once the beneficiary is added and approved (which can take a few hours for NEFT/RTGS in some banks), you can select them, enter the amount you wish to transfer, and confirm the transaction. The IFSC code ensures your money goes to the correct branch.

For example, if you are sending money to the Parsotimpur branch of Bihar Gramin Bank, you would input the IFSC code PUNB0MBGB06 along with the beneficiary’s account number, ensuring the funds are routed correctly to that specific branch.

Benefits of Knowing Your IFSC Code

Having the correct IFSC code at hand offers several advantages for secure and efficient banking:

• Safe and Secure Transfers: It guarantees that your electronic fund transfer reaches the exact intended bank branch, minimizing the risk of misdirection.
• Faster Processing: Correct IFSC codes allow for quick processing of NEFT, RTGS, and IMPS transactions, ensuring your money moves efficiently.
• Unique Identification: Each bank branch has a unique IFSC, making it easy to identify specific locations within the vast Indian banking network.
• Reduces Errors: By providing a precise identifier, the IFSC helps in significantly reducing manual errors that could occur during fund transfers.
• Essential for Online Banking: For anyone using internet banking or mobile banking apps, the IFSC code is a mandatory field for almost all types of electronic money transfers.

Contact Information

If you need to get in touch with the Parsotimpur branch or the bank’s head office, here are the details:

• Parsotimpur Branch Phone Number: 9297955265
• Parsotimpur Branch Address: Parsotimpur, SARAN, 841224
• Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

Frequently Asked Questions (FAQs)

Q1: What is the exact IFSC code for the Bihar Gramin Bank, Parsotimpur branch?
A: The IFSC code for the Bihar Gramin Bank, Parsotimpur branch is PUNB0MBGB06.

Q2: Why is the fifth character ‘0’ in the IFSC code?
A: The fifth character in any IFSC code is always ‘0’ (zero). This is reserved for future use or internal bank purposes by the Reserve Bank of India. It acts as a standard separator in the code structure.

Q3: If a bank branch has undergone a merger, can I still use its old IFSC code for transfers?
A: No, you should never use an old IFSC code after a merger or any change in the bank’s structure. As mentioned, old codes like those from Uttar Bihar Gramin Bank (UBGB) or Dakshin Bihar Gramin Bank (DBGB) have been revoked. Always ensure you use the new, valid IFSC code, such as PUNB0MBGB06, for all your transactions to avoid delays or failures.

Q4: What happens if I accidentally enter a wrong IFSC code during a fund transfer?
A: If you enter an incorrect IFSC code, your transaction will likely fail. The banking system relies on this code to route funds accurately. An invalid or wrong code means the system cannot identify the correct destination branch, and the transaction will not go through. Your bank will usually notify you of the failure, and the funds will remain in your account, though there might be a slight delay in processing.

Q5: Is the IFSC code the same for all branches of Bihar Gramin Bank?
A: No, the IFSC code is not the same for all branches. While the first few characters identify the bank group (e.g., “PUNB0MBG”), the last six characters uniquely identify each specific branch. So, while the initial part might be common, the full 11-character code is distinct for every individual branch of Bihar Gramin Bank.