For residents and businesses in Banauta, a locality in Saran district of Bihar, understanding your bank’s Indian Financial System Code (IFSC) is crucial for modern financial transactions. This unique 11-character alphanumeric code acts as a digital address for your specific bank branch. It is essential for facilitating online money transfers through systems like National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS), and Immediate Payment Service (IMPS). Without the correct IFSC, these digital transactions cannot be completed, ensuring that funds are directed precisely to the intended recipient branch.
Branch Details
| Bank Name | Bihar Gramin Bank |
| Branch Name | Banauta |
| IFSC Code | PUNB0MBGB06 |
| MICR Code | 800811002 |
| Branch Code | 100586 |
| Branch Address | Banauta, SARAN, 841215 |
| Contact Number | 9297955800 |
| City | SARAN |
| District | SARAN |
| Reason | CHAPRA |
| Pincode | 841215 |
| State | Bihar |
Merger Update
Previously, regional rural banks in Bihar operated under different names, including Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB). These banks have since merged to form the Madhya Bihar Gramin Bank (MBGB), which is sponsored by Punjab National Bank. Consequently, the Banauta branch, like others under this new structure, now uses the unified IFSC code PUNB0MBGB06 for all its digital transactions. It is important for customers to know that any old IFSC codes previously associated with UBGB or DBGB branches are no longer valid. For all current and future NEFT, RTGS, and IMPS transactions, only the new code, PUNB0MBGB06, should be used.
What is an IFSC Code?
The IFSC Code is a unique 11-character alphanumeric code assigned by the Reserve Bank of India (RBI) to identify each bank branch participating in online funds transfers. This code helps ensure that money is sent to the correct branch, even if the bank has multiple branches with similar names across different cities.
The structure of the IFSC code is straightforward:
- The first four characters represent the bank’s name. 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 currently serves as a control digit.
- The last six characters identify the specific branch. In PUNB0MBGB06, “MBGB06” uniquely points to the Banauta branch of Madhya Bihar Gramin Bank.
How to Use an IFSC Code
Using the IFSC code is simple when you are making online fund transfers. Here’s how it works for common transaction types:
For NEFT (National Electronic Funds Transfer):
- Log in to your bank’s online banking portal or mobile app.
- Go to the ‘Fund Transfer’ section and select ‘NEFT’.
- Add a new beneficiary or select an existing one.
- Enter the beneficiary’s name, account number, account type (e.g., savings, current), and the correct IFSC code (PUNB0MBGB06 for Banauta branch).
- Specify the amount you wish to transfer and confirm the transaction.
For RTGS (Real Time Gross Settlement):
- Access your online banking or mobile app.
- Choose the ‘Fund Transfer’ option and then ‘RTGS’.
- Provide the beneficiary’s details: name, account number, account type, and the IFSC code (PUNB0MBGB06).
- Enter the transfer amount. RTGS is typically for larger transactions, often above Rs. 2 lakh.
- Review and confirm the payment.
For IMPS (Immediate Payment Service):
- Open your mobile banking app.
- Select ‘IMPS’ for instant transfers.
- You will typically need the beneficiary’s mobile number and MMID (Mobile Money Identifier), or their account number and IFSC code (PUNB0MBGB06).
- Enter the amount.
- Confirm the details to complete the instant transfer.
Always double-check the IFSC code and beneficiary account number before confirming any transaction to avoid errors.
Benefits of Knowing Your IFSC Code
Knowing the correct IFSC code for your bank branch offers several key advantages:
- Accurate Fund Transfers: It ensures your money reaches the exact intended branch, preventing misdirected payments.
- Faster Processing: Correct IFSC codes help systems process NEFT, RTGS, and IMPS transactions quickly and efficiently.
- Enhanced Security: The unique identification helps in preventing fraudulent transactions by clearly mapping funds to specific, verified branches.
- Seamless Online Banking: It simplifies adding new beneficiaries for online transfers, making your digital banking experience smoother.
- Remittance Tracking: In some cases, a precise IFSC can assist in tracing funds if a transfer encounters an issue.
Contact
If you need to contact the Banauta branch or the head office for Madhya Bihar Gramin Bank, here are the details:
- Banauta Branch Phone Number: 9297955800
- Banauta Branch Address: Banauta, SARAN, 841215
- Head Office Address (Madhya Bihar Gramin Bank): SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
- Toll-Free Number: 18001807777
FAQs
Q1: Is the IFSC code the same for all branches of Bihar Gramin Bank?
No, while the first four characters (PUNB) will be the same for all branches sponsored by Punjab National Bank under the Madhya Bihar Gramin Bank structure, the last six characters (branch code) are unique to each individual branch. So, the Banauta branch has its own distinct IFSC code.
Q2: What happens if I use an incorrect IFSC code during a transfer?
If you enter an incorrect IFSC code, the transaction will likely fail or be rejected by the system. Most banking systems have checks in place to validate the IFSC code against the beneficiary’s account number and bank. If it does not match, the funds will not be transferred and will usually be reversed to your account, though this can take some time.
Q3: Can I find the IFSC code on my passbook or chequebook?
Yes, the IFSC code is typically printed on the first page of your bank passbook and on the top left corner of your cheque leaves. You can also find it on the bank’s official website or through online IFSC lookup tools.
Q4: Is the IFSC code required for cash deposits or withdrawals at the branch?
No, the IFSC code is primarily used for electronic fund transfers (NEFT, RTGS, IMPS) between different bank branches. For physical cash deposits or withdrawals directly at your home branch, you only need your account number and valid identification.
Q5: How can I verify that PUNB0MBGB06 is the correct IFSC for the Banauta branch?
You can verify this by checking your bank passbook, your chequebook, or by visiting the official website of Madhya Bihar Gramin Bank or Punjab National Bank. You can also contact the Banauta branch directly using the provided contact number.
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.