Naya Gaon, a vibrant locality nestled in the SARAN district of Bihar, is home to a branch of Bihar Gramin Bank. For anyone needing to send or receive money electronically from this branch, knowing its IFSC code is essential. The Indian Financial System Code (IFSC) acts like a unique digital address for every bank branch in India that participates in online fund transfers. It’s crucial for ensuring your money reaches the correct recipient quickly and securely through services like NEFT, RTGS, and IMPS.
Branch Details Table
| Detail | Information |
|---|---|
| Bank Name | Bihar Gramin Bank |
| Branch Name | Naya Gaon |
| IFSC Code | PUNB0MBGB06 |
| MICR Code | 800811002 |
| Branch Code | 108045 |
| Branch Address | Naya Gaon, SARAN, 841217, 9297955261 |
| Contact Number | 9297955261 |
| City | SARAN |
| District | SARAN |
| Reason | CHAPRA |
| Pincode | 841217 |
| State | Bihar |
Merger Update
The Bihar Gramin Bank, which includes the Naya Gaon branch, was formed through a significant merger. In 2013, Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB) consolidated their operations. This merger brought them together under the sponsorship of Punjab National Bank.
This means that all branches, including Naya Gaon, now operate under a unified system with a standardized IFSC code structure. Specifically, for Bihar Gramin Bank branches like Naya Gaon, the valid IFSC code is PUNB0MBGB06. It is very important to understand that any old IFSC codes previously used by UBGB or DBGB branches are now revoked. These old codes will not work for any modern electronic fund transfers. Always use the new, consolidated IFSC code for all your transactions to ensure they are processed correctly.
What is an IFSC Code?
IFSC stands for Indian Financial System Code. It is an 11-character alphanumeric code that uniquely identifies each bank branch in India that participates in online money transfers. Think of it as a specific digital address for a bank branch.
The structure of the IFSC code is always the same:
- The first four characters represent the bank name. For the Naya Gaon branch, “PUNB” stands for Punjab National Bank, which is the sponsoring bank for Bihar Gramin Bank.
- The fifth character is always a zero (0). This character is reserved for future use and helps differentiate the bank code from the branch code.
- The last six characters represent the specific branch code. For Naya Gaon, “MBGB06” identifies this particular branch.
This unique structure ensures that funds transferred electronically are routed to the precise branch and bank, avoiding errors.
How to Use an IFSC Code
You will need the IFSC code whenever you want to conduct electronic fund transfers. Here’s how it works for common services:
- NEFT (National Electronic Funds Transfer): This system processes transfers in batches. When initiating a NEFT transaction through your bank’s online portal, mobile app, or by filling out a form at a branch, you will need to provide the recipient’s bank account number, their name, and their branch’s IFSC code. For example, if you’re sending money to someone with an account at Bihar Gramin Bank Naya Gaon, you’d enter PUNB0MBGB06.
- RTGS (Real Time Gross Settlement): RTGS is used for large-value transactions that are processed individually and in real-time. Similar to NEFT, you’ll need the recipient’s account details and the IFSC code for their branch.
- IMPS (Immediate Payment Service): IMPS allows instant, 24/7 fund transfers. Whether you use mobile banking or an ATM, the IFSC code is a key piece of information along with the recipient’s account number or mobile number linked to their bank account.
Without the correct IFSC code, your bank will not be able to process the transaction, and the funds will not reach the intended recipient.
Benefits of Knowing the IFSC Code
Knowing the correct IFSC code for your bank branch, or for any branch you want to send money to, offers several advantages:
- Ensures Accuracy: It guarantees that your funds are transferred to the exact bank and branch you intend, minimizing the risk of errors or delays.
- Facilitates Online Transactions: It is mandatory for all major electronic fund transfer methods like NEFT, RTGS, and IMPS, enabling quick and efficient money transfers from anywhere.
- Saves Time: With the correct code, transactions are processed smoothly, avoiding the need for manual checks or repeated attempts.
- Enhances Security: The unique identification helps prevent fraudulent activities by ensuring funds go to legitimate bank branches.
- Easy Access to Banking Services: It makes it simpler to manage your finances and conduct banking operations remotely.
Contact Information
For direct inquiries or services related to the Bihar Gramin Bank, Naya Gaon branch, you can use the following details:
- Branch Phone Number: 9297955261
- Branch Address: Naya Gaon, SARAN, 841217, Bihar
For general inquiries or assistance regarding Bihar Gramin Bank, you can contact their head office or use the toll-free number:
- Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
- Toll-Free Number: 18001807777
Frequently Asked Questions
Q1: What is the IFSC code for Bihar Gramin Bank Naya Gaon branch?
The IFSC code for Bihar Gramin Bank, Naya Gaon branch, is PUNB0MBGB06.
Q2: Is the MICR code also important for fund transfers?
While the IFSC code is crucial for online fund transfers (NEFT, RTGS, IMPS), the MICR (Magnetic Ink Character Recognition) code is primarily used for clearing physical cheques. You usually won’t need the MICR code for electronic transfers.
Q3: Can I use an old IFSC code if I still have it from before the merger?
No, you should not use any old IFSC codes. Following the merger of Uttar Bihar Gramin Bank and Dakshin Bihar Gramin Bank into Bihar Gramin Bank, all old IFSC codes have been revoked. Only the new unified IFSC code, like PUNB0MBGB06 for Naya Gaon, is valid for transactions.
Q4: What types of transactions require an IFSC code?
An IFSC code is required for all electronic fund transfers within India, including NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), and IMPS (Immediate Payment Service).
Q5: How do I find the IFSC code for another Bihar Gramin Bank branch?
You can usually find the IFSC code on your bank’s chequebook, passbook, or by visiting the bank’s official website. Most bank branch locators online also provide this information. Just make sure to input the correct bank and branch name to get the accurate code.
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.