Bihar Gramin Bank Lakri Bazar IFSC Code

You’re looking for information on the Bihar Gramin Bank branch at Lakri Bazar in Siwan, Bihar. This branch, like all bank branches, uses a specific Indian Financial System Code (IFSC) to help you send or receive money electronically. Understanding your branch’s IFSC code is essential for common digital transactions like NEFT (National Electronic Funds Transfer), RTGS (Real-Time Gross Settlement), and IMPS (Immediate Payment Service). It ensures your money reaches the correct bank and branch without any issues.

Branch Details

Bank Name	Bihar Gramin Bank
Branch Name	Lakri Bazar
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	100656
Branch Address	Lakri Bazar, SIWAN, 841438
Contact Number	9297954459
City	SIWAN
District	SIWAN
Pincode	841438
State	Bihar

Merger Update for Bihar Gramin Bank

Bihar Gramin Bank is a Regional Rural Bank (RRB) that has undergone important mergers to streamline its operations and services. It was formed from the merger of two existing Regional Rural Banks: Madhya Bihar Gramin Bank and Bihar Kshetriya Gramin Bank. Both of these banks were sponsored by Punjab National Bank (PNB).

As a result of this consolidation, all branches of Bihar Gramin Bank now operate under the sponsorship of Punjab National Bank. This means that all transactions for Bihar Gramin Bank branches, including the Lakri Bazar branch in Siwan, use a unified IFSC code structure beginning with PUNB. For the Lakri Bazar branch, the specific IFSC code is PUNB0MBGB06.

It is crucial to understand that if any previous IFSC codes were used by the constituent banks before their merger into Bihar Gramin Bank, those old codes are now revoked and are no longer valid for any transactions. For any fund transfer to the Lakri Bazar branch of Bihar Gramin Bank, only the new IFSC code, PUNB0MBGB06, is valid and must be used.

What is an IFSC Code?

An IFSC (Indian Financial System Code) is a unique 11-character code. It identifies every bank branch participating in online fund transfers within India. Think of it as a unique address for each bank branch in the digital world. This code helps the banking system route your money to the exact branch you intend.

The 11 characters of an IFSC code are structured in a specific way:

• The first four characters represent the bank’s name. For example, in PUNB0MBGB06, “PUNB” stands for Punjab National Bank, the sponsoring bank for Bihar Gramin Bank.
• The fifth character is always a zero (0). This character is reserved for future use and helps distinguish between the bank code and the branch code.
• The last six characters identify the specific bank branch. In our example, “MBGB06” uniquely points to the Lakri Bazar branch of Bihar Gramin Bank.

How to Use an IFSC Code

Using the IFSC code is a straightforward process when you’re making an electronic fund transfer. Here’s a general guide for NEFT, RTGS, and IMPS transactions:

1. Log In: Access your net banking portal or mobile banking app.
2. Select Transfer Type: Choose the type of transfer you want to make (NEFT, RTGS, or IMPS).
3. Add Beneficiary: If you’re sending money to someone for the first time, you’ll need to add them as a beneficiary. This usually involves providing:
   • The beneficiary’s name.
   • Their bank account number.
   • The bank’s name (e.g., Bihar Gramin Bank).
   • The branch name (e.g., Lakri Bazar).
   • The IFSC Code (e.g., PUNB0MBGB06).
4. Verify Details: Double-check all the information you entered, especially the account number and IFSC code. A small mistake can lead to your funds being sent to the wrong person.
5. Enter Amount and Confirm: Input the amount you wish to transfer and confirm the transaction. You might receive an OTP (One-Time Password) on your registered mobile number to complete the process.

For cash deposits using electronic methods, the bank branch where you are depositing may also require the IFSC code for accurate processing, though usually the account number is the primary identifier for deposits.

Benefits of Knowing Your IFSC Code

Having easy access to your branch’s IFSC code offers several advantages:

• Seamless Fund Transfers: It ensures your money reaches the correct branch quickly and accurately for NEFT, RTGS, and IMPS transactions.
• Prevents Errors: Using the correct IFSC code significantly reduces the chances of funds being misdirected to the wrong bank or branch.
• Faster Processing: Correct codes lead to faster processing of your transactions, ensuring timely receipt of funds.
• Required for Online Banking: It’s a mandatory piece of information for setting up and performing most online financial transactions.
• Essential for Bill Payments: Many online bill payment services or investment platforms require your bank’s IFSC code for direct debit facilities.

Contact Information

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

• Lakri Bazar Branch Phone Number: 9297954459
• Lakri Bazar Branch Address: Lakri Bazar, SIWAN, 841438, Bihar
• Bihar Gramin Bank Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

Frequently Asked Questions

Here are some common questions about IFSC codes and Bihar Gramin Bank:

Q1: Is the IFSC code PUNB0MBGB06 unique to the Lakri Bazar branch?
A1: Yes, the last six characters (“MBGB06”) of the IFSC code specifically identify the Bihar Gramin Bank Lakri Bazar branch. No other branch in India will have this exact 11-character code.

Q2: What happens if I use an old or incorrect IFSC code for a transfer?
A2: If you use an old or incorrect IFSC code, your transaction will likely fail. The banking system will detect that the code does not match a valid branch, and your funds will not be transferred. In some cases, if the incorrect code points to a different valid branch, your money might be transferred there, which could cause significant delays or loss of funds. Always double-check.

Q3: Can I find the IFSC code for Bihar Gramin Bank on my passbook or chequebook?
A3: Yes, the IFSC code is typically printed on your bank passbook and on the top leaf of your chequebook. You can also find it on the bank’s official website or through various financial service portals.

Q4: Is the MICR code also important for online transfers?
A4: The MICR (Magnetic Ink Character Recognition) code is primarily used for processing physical cheques. While it identifies your branch, it is not required for online fund transfers like NEFT, RTGS, or IMPS. For these digital transactions, the IFSC code is the key identifier.

Q5: What is the difference between NEFT, RTGS, and IMPS in terms of using the IFSC code?
A5: While all three require an IFSC code, they differ in processing time and amount limits. NEFT transactions are processed in batches and are suitable for smaller amounts. RTGS is for large-value transactions and is processed in real-time. IMPS offers instant, 24/7 transfers for smaller to medium amounts. The IFSC code ensures each of these systems routes the funds correctly, regardless of the speed or amount.