Bihar Gramin Bank Parsagarhi IFSC Code

At the heart of Parsagarhi, a vibrant locality in the Supaul district of Bihar, the local bank branch plays a crucial role in the community’s financial life. For anyone looking to send or receive money electronically, understanding the Indian Financial System Code (IFSC) is key. This unique code is essential for all major digital fund transfers like National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS), and Immediate Payment Service (IMPS). It acts like a digital address, ensuring that your money reaches the exact bank and branch it is intended for, making transactions smooth and secure.

Branch Details

Here are the specific details for the Bihar Gramin Bank, Parsagarhi branch:

Bank Name	Bihar Gramin Bank
Branch Name	Parsagarhi
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	108116
Branch Address	Parsagarhi, SUPAUL, 852107, 9297954290
Contact Number	9297954290
City	SUPAUL
District	SUPAUL
Reason	SAHARSA
Pincode	852107
State	Bihar

Merger Update for Bihar Gramin Bank

The Bihar Gramin Bank, including its Parsagarhi branch, has an important history tied to regional banking consolidation. Originally, two prominent regional rural banks, Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB), served different parts of Bihar. To streamline operations and enhance financial services, these two banks merged to form the single entity known as Bihar Gramin Bank. This new bank is sponsored by Punjab National Bank (PNB).

As a result of this merger, all branches previously under UBGB or DBGB now operate under the Bihar Gramin Bank. This also means that a standardized IFSC code structure is in use. The code PUNB0MBGB06 is the current, valid IFSC for the Parsagarhi branch. It is crucial to understand that any old IFSC codes associated with Uttar Bihar Gramin Bank or Dakshin Bihar Gramin Bank branches are now revoked and no longer valid for transactions. Always use the new, consolidated IFSC code for all your electronic fund transfers to ensure your money reaches the correct destination.

What is an IFSC Code?

The IFSC, or Indian Financial System Code, is an 11-character alphanumeric code. It uniquely identifies every bank branch participating in online fund transfers. Understanding its structure can help you verify its authenticity:

• First four characters: These represent the bank code. For Bihar Gramin Bank, which is sponsored by Punjab National Bank, these characters are "PUNB". This indicates its connection and sponsorship.
• Fifth character: This character is always ‘0’ (zero). It is reserved for future use, acting as a control character.
• Last six characters: These digits uniquely identify a specific branch. For the Parsagarhi branch, these are "MBGB06". Each branch of Bihar Gramin Bank will have a different set of these six characters.

In essence, the IFSC code is a precise digital address for a bank branch, ensuring accuracy in all electronic transactions.

How to Use an IFSC Code

Using the IFSC code is a straightforward process when you are making digital payments via NEFT, RTGS, or IMPS. Here’s a general guide:

1. Log In: Access your bank’s net banking portal or mobile banking application.
2. Select Transfer Type: Navigate to the "Fund Transfer" section. Here, you will choose between NEFT, RTGS, or IMPS, depending on the amount and urgency of your transfer.
3. Add Beneficiary: If you’re sending money to a new recipient, you’ll need to add them as a beneficiary. You will be prompted to enter their details.
4. Enter Details: Provide the beneficiary’s full name, their bank account number, and critically, the correct IFSC code for their bank branch (in this case, PUNB0MBGB06 for Parsagarhi branch).
5. Confirm and Transact: After adding the beneficiary, select them from your list, enter the amount you wish to transfer, and confirm the transaction using your password or PIN.

Even if you’re filling out a physical form at your bank for a fund transfer, the IFSC code will be a mandatory field to ensure the funds go to the intended branch.

Benefits of Knowing the IFSC Code

Having the correct IFSC code for a bank branch offers several key advantages:

• It ensures the accurate routing of funds to the specific branch, preventing misdirection of money.
• It is mandatory for all major electronic fund transfer systems in India, including NEFT, RTGS, and IMPS, making online transactions possible.
• It speeds up the process of adding beneficiaries and initiating transfers, as manual verification of branch details is minimized.
• It significantly reduces the chances of errors and potential fraudulent activities by precisely identifying the destination.
• It helps distinguish between branches of the same bank or similarly named banks, especially in a vast banking network.

Contact Information

For any inquiries related to the Parsagarhi branch or general banking services of Bihar Gramin Bank, you can use the following contact details:

• Branch Phone Number: 9297954290
• Branch Address: Parsagarhi, SUPAUL, 852107, 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 does ‘PUNB’ in PUNB0MBGB06 signify?

A1: ‘PUNB’ stands for Punjab National Bank. It indicates that Bihar Gramin Bank, including its Parsagarhi branch, is sponsored by Punjab National Bank.

Q2: Can I still use an old IFSC code for Uttar Bihar Gramin Bank (UBGB) or Dakshin Bihar Gramin Bank (DBGB)?

A2: No, you cannot. Following the merger, all old IFSC codes for UBGB and DBGB branches have been revoked. You must use the new, consolidated IFSC code, like PUNB0MBGB06 for the Parsagarhi branch, for all electronic transactions.

Q3: Is the IFSC code PUNB0MBGB06 valid for all Bihar Gramin Bank branches?

A3: No, this specific IFSC code (PUNB0MBGB06) is only for the Parsagarhi branch. While the first five characters (PUNB0) are common for many Bihar Gramin Bank branches, the last six characters (MBGB06) are unique to this particular branch. Each branch will have its own distinct IFSC code.

Q4: What is the purpose of the ‘0’ (zero) as the fifth character in the IFSC code?

A4: The fifth character in every IFSC code is always ‘0’ (zero). It is a control character reserved for future use, for instance, to introduce new features or functionalities in the banking system without changing the entire code structure.

Q5: How is an IFSC code different from a MICR code?

A5: An IFSC code (Indian Financial System Code) is used for electronic fund transfers like NEFT, RTGS, and IMPS, identifying a specific bank branch. A MICR code (Magnetic Ink Character Recognition) is a 9-digit code primarily used for processing cheques. It identifies the bank, city, and branch printed on cheque leaves.