If you’re looking to manage financial transactions with the Bihar Gramin Bank’s Raghopur branch, located in Vaishali district, Bihar, understanding the Indian Financial System Code (IFSC) is essential. This unique 11-character alphanumeric code is critical for secure and efficient electronic fund transfers. Whether you’re sending money via National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS), or Immediate Payment Service (IMPS), the correct IFSC code ensures your funds reach the intended recipient without delays or errors.
Branch Details
| Bank Name | Bihar Gramin Bank |
| Branch Name | Raghopur |
| IFSC Code | PUNB0MBGB06 |
| MICR Code | 800811002 |
| Branch Code | 100016 |
| Branch Address | Raghopur, VAISHALI, 844508, 9297955031 |
| Contact Number | 9297955031 |
| City | VAISHALI |
| District | VAISHALI |
| Reason | HAJIPUR |
| Pincode | 844508 |
| State | Bihar |
Merger Update
Bihar Gramin Bank, which includes the Raghopur branch, was formed from the significant merger of two regional rural banks: Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB). This consolidation brought both entities under a unified structure, sponsored by Punjab National Bank. As a direct result of this merger, all branches, including Raghopur, now operate under a standardized IFSC code system linked to Punjab National Bank.
The specific IFSC code for the Raghopur branch is PUNB0MBGB06. It is crucial for anyone conducting transactions with Bihar Gramin Bank to understand that any old IFSC codes previously associated with Uttar Bihar Gramin Bank or Dakshin Bihar Gramin Bank branches are no longer valid for electronic fund transfers. To ensure your transactions are processed correctly and without issues, always use the new, standardized IFSC code, PUNB0MBGB06, for all future electronic transfers.
What is IFSC Code?
The IFSC (Indian Financial System Code) is a unique 11-character code assigned by the Reserve Bank of India (RBI) to identify individual bank branches participating in online banking. It’s an alphanumeric code that helps direct funds to the correct bank and branch.
The structure of an IFSC code is specific:
- 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 acts as a control digit.
- The last six characters uniquely identify the specific bank branch. In PUNB0MBGB06, “MBGB06” points to the Raghopur branch of Bihar Gramin Bank.
This structured format ensures that every branch involved in electronic fund transfers has a distinct identifier, preventing misdirection of funds.
How to Use IFSC Code
The IFSC code is a mandatory detail when you initiate electronic fund transfers through NEFT, RTGS, or IMPS. Here’s how it’s used:
- NEFT (National Electronic Funds Transfer): This system processes fund transfers in batches. When you initiate an NEFT transfer through your bank’s online portal or by filling out a form, you will need the recipient’s bank account number, their name, and the IFSC code of their specific branch. For a transfer to Raghopur branch, you’d enter PUNB0MBGB06. The funds are typically credited within a few hours.
- RTGS (Real Time Gross Settlement): RTGS is designed for large-value transactions, with a minimum transfer amount of ₹2 Lakhs. Transactions are processed individually and continuously. Similar to NEFT, you’ll provide the recipient’s account details and the Raghopur branch’s IFSC code (PUNB0MBGB06). The funds are settled almost immediately once processed.
- IMPS (Immediate Payment Service): IMPS offers instant, 24/7 fund transfers, even on holidays. It’s often used for smaller, urgent transfers. When using mobile banking or internet banking for IMPS, you’ll need the recipient’s mobile number and MMID (Mobile Money Identifier) or their account number and the IFSC code (PUNB0MBGB06) of their branch. The transfer is completed instantly.
In all these methods, the IFSC code acts like a postal code for digital money, ensuring your funds are routed to the precise bank and branch.
Benefits
Knowing and using the correct IFSC code for Bihar Gramin Bank, Raghopur branch, offers several important benefits:
- Ensures Accuracy: The unique code guarantees that funds are transferred to the correct beneficiary account at the specific bank branch, preventing misdirected payments.
- Facilitates Quick Transfers: IFSC codes are integral to NEFT, RTGS, and IMPS, which enable electronic fund transfers to be processed much faster than traditional methods like cheques.
- Enhances Security: By providing a standardized identifier, the IFSC system adds a layer of security, reducing the chances of fraud or errors in transactions.
- Mandatory for Online Banking: It is a critical piece of information required for almost all digital banking transactions, making online fund transfers possible and reliable.
- Reduces Manual Errors: Unlike writing out full branch names, using a concise code minimizes the scope for human error during data entry.
Contact
For any inquiries or assistance regarding your accounts or transactions at the Bihar Gramin Bank Raghopur branch, you can use the following contact details:
- Branch Phone Number: 9297955031
- Branch Address: Raghopur, VAISHALI, 844508, 9297955031
- Bihar Gramin Bank Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
- Toll-Free Number (Punjab National Bank – Sponsor Bank): 18001807777
FAQs
What happens if I use an old IFSC code for a Bihar Gramin Bank branch?
If you try to use an old IFSC code that belonged to Uttar Bihar Gramin Bank (UBGB) or Dakshin Bihar Gramin Bank (DBGB) before their merger, your transaction will likely fail. The banking system will not recognize the old code as valid for the current Bihar Gramin Bank structure, and the funds will not be transferred. Always use the updated IFSC code, PUNB0MBGB06, for the Raghopur branch.
Is Bihar Gramin Bank a public or private bank?
Bihar Gramin Bank is a Regional Rural Bank (RRB). RRBs are government-sponsored banks that aim to provide banking and financial services to rural and semi-urban areas. While they operate independently, they are sponsored by a larger public sector bank, which in this case is Punjab National Bank.
What is the difference between NEFT and RTGS?
NEFT (National Electronic Funds Transfer) processes transactions in batches, meaning there’s a slight delay as transfers are grouped together for settlement. There’s no minimum transfer amount for NEFT. RTGS (Real Time Gross Settlement), on the other hand, processes transactions individually and continuously, offering near-instant settlement. RTGS has a minimum transfer amount of ₹2 Lakhs, making it suitable for large-value transactions requiring immediate clearance.
Can I find the IFSC code online if I don’t have it?
Yes, you can easily find the IFSC code online. Reputable sources include the official website of Bihar Gramin Bank, the Reserve Bank of India (RBI) website, or reliable third-party financial websites. You’ll typically need to select the bank name, state, district, and branch to retrieve the correct IFSC.
What is the MICR code for, and how is it different from IFSC?
The MICR (Magnetic Ink Character Recognition) code is a 9-digit numerical code printed on cheques, usually at the bottom. It helps in the electronic clearing of cheques. While IFSC identifies a branch for online fund transfers, MICR is specifically used for processing physical cheques. The Raghopur branch’s MICR code is 800811002.
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.