Bihar Gramin Bank Karbala Bazar IFSC Code

This article discusses the Bihar Gramin Bank branch located in Karbala Bazar, Siwan, Bihar. When you need to send money electronically, understanding the Indian Financial System Code (IFSC) is very important. This unique code helps process online fund transfers like NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), and IMPS (Immediate Payment Service) safely and quickly. It ensures your money goes to the correct bank and branch without delays.

Branch Details

Detail	Information
Bank Name	Bihar Gramin Bank
Branch Name	Karbala Bazar
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	100676
Branch Address	Karbala Bazar, SIWAN, 841232, 9297954453
Contact Number	9297954453
City	SIWAN
District	SIWAN
Region	SIWAN
Pincode	841232
State	Bihar

Merger Update

The Bihar Gramin Bank, including its Karbala Bazar branch, has been part of a significant merger. It merged with Kosi Kshetriya Gramin Bank to form the *Madhya Bihar Gramin Bank*. This new entity is sponsored by Punjab National Bank. Because of this merger, all branches of the former Bihar Gramin Bank, including Karbala Bazar, now use the IFSC code format specific to Madhya Bihar Gramin Bank, under Punjab National Bank’s sponsorship.

Specifically, the IFSC code for Karbala Bazar branch is PUNB0MBGB06. It is crucial to note that any old IFSC codes previously used by Bihar Gramin Bank branches are now revoked. For any electronic fund transfers to or from this branch, you must use the new and valid IFSC code: PUNB0MBGB06. Using an old or incorrect code will cause your transaction to fail.

What is an IFSC Code?

An IFSC code is an 11-character alphanumeric code. It uniquely identifies every bank branch participating in online money transfers. Understanding its structure helps in verifying its correctness.

* The first four characters represent the bank name. For PUNB0MBGB06, “PUNB” stands for Punjab National Bank, the sponsoring bank for Madhya Bihar Gramin Bank.
* The fifth character is always a zero (0). This character is kept for future use.
* The last six characters identify the specific branch. In this case, “MBGB06” points to the Karbala Bazar branch of Madhya Bihar Gramin Bank.

So, the code PUNB0MBGB06 clearly identifies that Punjab National Bank is the sponsoring bank for Madhya Bihar Gramin Bank, and “06” helps pinpoint the Karbala Bazar branch.

How to Use the IFSC Code

You will need the IFSC code when initiating any electronic fund transfer. Here’s a general guide:

* For NEFT (National Electronic Funds Transfer): This system processes transactions in batches. When you set up a new beneficiary, you will enter their bank name (Madhya Bihar Gramin Bank), branch name (Karbala Bazar), account number, and the IFSC code (PUNB0MBGB06).
* For RTGS (Real Time Gross Settlement): This is for large value transactions, processed individually in real-time. Similar to NEFT, you provide the beneficiary’s bank, branch, account number, and the IFSC code (PUNB0MBGB06).
* For IMPS (Immediate Payment Service): This allows instant 24/7 transfers. When using IMPS, you’ll enter the beneficiary’s account details and the IFSC code (PUNB0MBGB06) to ensure the funds reach the correct destination immediately.

Always double-check the IFSC code before confirming a transaction. An incorrect code can send your money to the wrong account or cause the transfer to be rejected.

Benefits of Knowing Your IFSC Code

Knowing the correct IFSC code for your bank branch offers several advantages:

* Ensures Accurate Transfers: It guarantees your money is sent to the specific bank and branch intended.
* Reduces Errors: Using the correct code minimizes the chances of failed transactions or money going to an incorrect account.
* Facilitates Faster Processing: Banks use IFSC codes to route transactions quickly, leading to faster crediting of funds.
* Simplifies Online Banking: It is a key piece of information for setting up online payments, recurring transfers, and managing beneficiaries.
* Identifies Branch Location: The code structure helps in quickly identifying the bank and the specific branch from anywhere in India.

Contact Information

For assistance with your accounts or transactions related to the Karbala Bazar branch of Madhya Bihar Gramin Bank, formerly Bihar Gramin Bank, you can use the following details:

* Branch Phone Number: 9297954453
* Branch Address: Karbala Bazar, SIWAN, 841232
* Head Office Address (Madhya Bihar Gramin Bank): SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
* Toll-Free Number (Madhya Bihar Gramin Bank): 18001807777

Frequently Asked Questions

Q1: Is Bihar Gramin Bank still operational as a separate entity?
No, Bihar Gramin Bank has merged with Kosi Kshetriya Gramin Bank to form Madhya Bihar Gramin Bank. The Karbala Bazar branch now operates under the umbrella of Madhya Bihar Gramin Bank.

Q2: What should I do if I only have an old IFSC code for Bihar Gramin Bank?
You must update to the new IFSC code, which is PUNB0MBGB06 for the Karbala Bazar branch. Old IFSC codes are no longer valid for electronic transactions and will result in failed transfers.

Q3: Can I use the old cheque books from Bihar Gramin Bank?
While some old cheque books might still be accepted for a grace period, it is always best to obtain new cheque books from Madhya Bihar Gramin Bank. This ensures all bank details, including the new IFSC, are correct.

Q4: Why does the IFSC code start with “PUNB” instead of “MBGB”?
The “PUNB” prefix indicates that Punjab National Bank is the sponsoring bank for Madhya Bihar Gramin Bank. All Regional Rural Banks (RRBs) like Madhya Bihar Gramin Bank have a sponsoring commercial bank, and their IFSC codes often reflect this relationship.

Q5: Is the MICR Code also affected by the merger?
Yes, typically both the IFSC and MICR codes are updated post-merger to reflect the new banking entity. For the Karbala Bazar branch, the MICR Code is 800811002.