Bihar Gramin Bank Ladhi Bazar IFSC Code

When you need to send money electronically to someone in Ladhi Bazar, SIWAN, Bihar, understanding the right bank codes is crucial. The Bihar Gramin Bank branch in Ladhi Bazar, located in the SIWAN district of Bihar, plays a vital role in the local economy, serving many residents and businesses. For any digital fund transfers like National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS), or Immediate Payment Service (IMPS), an Indian Financial System Code, or IFSC code, is essential. This unique code ensures your money reaches the correct bank and branch without any issues.

Branch Details

Here are the specific details for the Bihar Gramin Bank branch in Ladhi Bazar:

Bank Name	Bihar Gramin Bank
Branch Name	Ladhi Bazar
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	100652
Branch Address	Ladhi Bazar, SIWAN, 841434, Bihar
Contact Number	8825125670
City	SIWAN
District	SIWAN
Pincode	841434
State	Bihar

Merger Update for Bihar Gramin Bank

It is important to note a significant change regarding regional rural banks in Bihar. The Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB) have merged to form the current Bihar Gramin Bank. This merger aimed to streamline operations and provide better banking services.

As a result of this merger, all branches of the formerly independent UBGB and DBGB now operate under the single IFSC code series sponsored by Punjab National Bank. The Ladhi Bazar branch of Bihar Gramin Bank uses the IFSC code PUNB0MBGB06. This means that any old IFSC codes previously used for branches under Uttar Bihar Gramin Bank or Dakshin Bihar Gramin Bank are no longer valid. For any fund transfers, you must use the new, updated IFSC codes, such as PUNB0MBGB06, to ensure your transactions are successful.

What is an IFSC Code?

An IFSC code is an 11-character alphanumeric code that uniquely identifies every bank branch participating in online money transfers in India. It is crucial for ensuring that funds are transferred to the correct destination.

The structure of the IFSC code PUNB0MBGB06 can be broken down as follows:

• The first four characters, PUNB, identify the sponsoring bank, which in this case is Punjab National Bank.
• The fifth character is always a 0 (zero). This character is reserved for future use and acts as a control digit.
• The last six characters, MBGB06, uniquely identify the specific branch of Bihar Gramin Bank, which is the Ladhi Bazar branch. Each branch has its own unique six-character code.

How to Use an IFSC Code

Using the IFSC code is a straightforward process when you are making electronic fund transfers. Here’s how it works for common transfer methods:

• NEFT (National Electronic Funds Transfer): When setting up a new beneficiary for an NEFT transfer, your bank’s online portal or mobile app will ask for the beneficiary’s bank name, account number, and the IFSC code. You would enter Bihar Gramin Bank, the beneficiary’s account number, and PUNB0MBGB06 for the Ladhi Bazar branch. The money is transferred in batches.
• RTGS (Real Time Gross Settlement): Similar to NEFT, RTGS also requires the IFSC code. RTGS is typically used for high-value transactions (usually above INR 2 lakhs), and the transfers happen in real-time. You will provide the beneficiary’s bank name, account number, and the specific IFSC code PUNB0MBGB06.
• IMPS (Immediate Payment Service): IMPS allows for instant money transfers, even on holidays, 24/7. When initiating an IMPS transfer using the beneficiary’s account number and IFSC, you will input PUNB0MBGB06 to direct the funds to the correct branch instantly.

Always double-check the IFSC code, account number, and beneficiary name before confirming any transaction to avoid errors.

Benefits of Knowing Your IFSC Code

Having the correct IFSC code for your bank branch is highly beneficial for several reasons:

• Accurate Fund Transfers: It ensures that your money goes to the exact intended recipient’s bank branch, minimizing the risk of errors.
• Faster Transactions: With the correct IFSC, electronic transfers like NEFT, RTGS, and IMPS are processed efficiently and quickly.
• Enhanced Security: The unique identification helps prevent fraudulent transfers by validating the destination branch.
• Enabled Online Banking: The IFSC code is a fundamental requirement for almost all online and mobile banking fund transfer services.
• Inter-Bank Operations: It facilitates seamless communication and transactions between different banks and their branches across India.

Contact Information

If you need to get in touch with Bihar Gramin Bank, Ladhi Bazar branch, or their head office, here are the contact details:

• Ladhi Bazar Branch Contact Number: 8825125670
• Ladhi Bazar Branch Address: Ladhi Bazar, SIWAN, 841434, Bihar
• 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, Ladhi Bazar branch?
A1: The IFSC code for Bihar Gramin Bank, Ladhi Bazar branch, is PUNB0MBGB06.

Q2: Why is the fifth character ‘0’ in the IFSC code?
A2: The fifth character in any IFSC code is always a ‘0’ (zero). This digit is reserved by the Reserve Bank of India for future use and acts as a control digit in the code structure.

Q3: Can I use an old IFSC code for a branch that was previously part of Uttar Bihar Gramin Bank or Dakshin Bihar Gramin Bank?
A3: No, you should not use 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. You must use the new, updated IFSC codes, such as PUNB0MBGB06, for all transactions.

Q4: Is the IFSC code the same for all branches of Bihar Gramin Bank?
A4: No, the IFSC code is unique for each individual bank branch. While the first four characters (identifying the sponsoring bank) and the fifth character (zero) might be the same across many branches of Bihar Gramin Bank, the last six characters are different for every branch to ensure unique identification.

Q5: What is the purpose of the MICR code mentioned for the branch?
A5: The MICR (Magnetic Ink Character Recognition) code is a 9-digit code primarily used for processing cheques. It helps in quickly and accurately identifying the bank and branch code during the cheque clearing process. For the Ladhi Bazar branch, the MICR code is 800811002.