Bihar Gramin Bank Basantpur Bangla IFSC Code

You are looking to make an electronic fund transfer to the Bihar Gramin Bank, Basantpur Bangla branch. This branch is located in Basantpur Bangla, a part of the Saran district in Bihar, identified by the pincode 841401. To send money using systems like NEFT, RTGS, or IMPS, you need a specific code called the Indian Financial System Code (IFSC). This unique 11-character code helps identify the exact bank and branch involved in your transaction, ensuring your money goes to the correct place quickly and safely. Without this code, electronic transfers are not possible.

Branch Details

Here are the key details for the Basantpur Bangla branch:

Bank Name	Bihar Gramin Bank
Branch Name	Basantpur Bangla
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	100592
Branch Address	Basantpur Bangla, SARAN, 841401, 9297955200
Contact Number	9297955200
City	SARAN
District	SARAN
Reason	CHAPRA
Pincode	841401
State	Bihar

Important Merger Update

Regional Rural Banks in Bihar have undergone several important mergers to streamline their operations. Previously, entities like Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB) existed. These and other regional banks have been part of various amalgamation processes in Bihar.

The current IFSC code, PUNB0MBGB06, is now the designated code for many branches operating under the *Madhya Bihar Gramin Bank*. This bank is sponsored by Punjab National Bank. This means that if a branch previously had an IFSC code under UBGB, DBGB, or another predecessor bank, that old code is now revoked and invalid. For all fund transfers to the Basantpur Bangla branch and similar branches now falling under the Madhya Bihar Gramin Bank, you must use the new, standardized IFSC code: PUNB0MBGB06. Using any old or incorrect IFSC code will lead to transaction failures.

What is an IFSC Code?

The IFSC Code, or Indian Financial System Code, is an 11-character alphanumeric code used to identify all bank branches in India that participate in electronic fund transfers. Think of it as a unique digital address for each bank branch.

The structure of the IFSC code is standardized:

• The first four characters represent the bank name. For example, in PUNB0MBGB06, “PUNB” stands for Punjab National Bank, which sponsors Madhya Bihar Gramin Bank.
• The fifth character is always a zero (0). This character is reserved for future use and helps distinguish between bank codes and branch codes.
• The last six characters identify the specific branch. In PUNB0MBGB06, “MBGB06” uniquely identifies the Basantpur Bangla branch within Madhya Bihar Gramin Bank.

This organized structure ensures that every transaction is routed accurately to its intended destination.

How to Use Your IFSC Code for Fund Transfers

Using the IFSC code for electronic fund transfers like NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), and IMPS (Immediate Payment Service) is straightforward. Here are the general steps:

1. Log In to Your Net Banking or Mobile Banking App: Access your online banking platform or mobile app.
2. Select Transfer Type: Choose the type of transfer you want to make – NEFT, RTGS, or IMPS. NEFT is for deferred settlements, RTGS is for large, immediate settlements, and IMPS is for instant transfers of smaller amounts.
3. Add Beneficiary (if new): If you are sending money to this account for the first time, you will need to add the Basantpur Bangla branch account as a beneficiary. You will usually need the beneficiary’s name, account number, bank name (Bihar Gramin Bank / Madhya Bihar Gramin Bank), and the IFSC code (PUNB0MBGB06).
4. Enter Transfer Details: Once the beneficiary is added or selected, enter the amount you wish to send.
5. Confirm and Transact: Review all the details carefully, including the beneficiary’s name, account number, and the IFSC code. Confirm the transaction to initiate the fund transfer.

Always double-check the IFSC code and account number. A single incorrect digit can cause delays or transfer funds to the wrong account.

Benefits of Knowing Your IFSC Code

Knowing the correct IFSC code for your bank branch, or the branch you are sending money to, offers several important benefits:

• Seamless Electronic Transfers: It is mandatory for all digital transactions (NEFT, RTGS, IMPS), allowing your money to move quickly between banks.
• Accuracy and Error Reduction: The unique code ensures funds are transferred to the precise branch and account, minimizing the chances of errors or misdirected payments.
• Enhanced Security: By clearly identifying the sender’s and receiver’s bank branches, the IFSC code adds a layer of security and traceability to online transactions.
• Faster Processing: With the correct IFSC, banks can process your transactions much faster, as the routing information is immediately available.
• Convenience: It enables you to manage your finances digitally from anywhere, avoiding the need for physical visits to the bank for transfers.

Contact Information

For any queries or assistance regarding the Basantpur Bangla branch or your banking needs, you can use the following contact details:

• Branch Phone Number: 9297955200
• Branch Address: Basantpur Bangla, SARAN, 841401, Bihar
• Head Office Address (Madhya Bihar Gramin Bank): SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number (Punjab National Bank, sponsor bank): 18001807777

Frequently Asked Questions (FAQs)

Here are some common questions about IFSC codes:

Q1: Why is the IFSC code so important for bank transfers?
A1: The IFSC code is crucial because it acts as a unique identifier for each bank branch involved in an electronic money transfer. It ensures that your funds are routed to the exact bank and branch you intend, preventing errors and speeding up the transfer process for services like NEFT, RTGS, and IMPS.

Q2: Can I still use an older IFSC code if my bank underwent a merger?
A2: No, if your bank branch (like Basantpur Bangla) has undergone a merger or changed its sponsor bank, any old IFSC codes are typically revoked. You must use the new, valid IFSC code (in this case, PUNB0MBGB06) for all electronic transfers. Using an outdated code will cause your transaction to fail.

Q3: Is the fifth character of an IFSC code always zero?
A3: Yes, the fifth character of every IFSC code is consistently ‘0’ (zero). This character is reserved for future use and serves as a control digit, helping to differentiate the initial bank code from the specific branch code that follows.

Q4: What is the main difference between an IFSC code and a MICR code?
A4: An IFSC code is an 11-character alphanumeric code primarily used for electronic fund transfers (NEFT, RTGS, IMPS) between bank branches. A MICR (Magnetic Ink Character Recognition) code is a 9-digit numeric code found on cheque leaves, mainly used for processing paper-based transactions like cheques and demand drafts quickly and securely.

Q5: Where can I reliably find the correct IFSC code for a branch?
A5: You can find the correct IFSC code in several reliable places: on your bank’s passbook, on cheque leaves issued by the bank, on your bank statements, on the official website of the bank, or by using online IFSC finders provided by the Reserve Bank of India (RBI) or bank aggregator websites.