Bihar Gramin Bank Nayagoan IFSC Code

Welcome to the Nayagoan branch of Bihar Gramin Bank, located in the Vaishali district of Bihar. When you need to send money electronically, understanding the Indian Financial System Code (IFSC) is essential. This unique code helps ensure your funds reach the correct bank and branch quickly and securely. Whether you’re using NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), or IMPS (Immediate Payment Service), the IFSC acts as a digital address for seamless money transfers.

Branch Details Table

Bank Name	Bihar Gramin Bank
Branch Name	Nayagoan
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	100059
Branch Address	Nayagoan, VAISHALI, 844506, 9297955015
Contact Number	9297955015
City	VAISHALI
District	VAISHALI
Reason	HAJIPUR
Pincode	844506
State	Bihar

Merger Update

For branches that were previously part of Uttar Bihar Gramin Bank (UBGB) or Dakshin Bihar Gramin Bank (DBGB), these banks have now merged. They operate under the new unified structure, sponsored by Punjab National Bank. As a result, the single IFSC code, PUNB0MBGB06, is now used for all such branches, including Bihar Gramin Bank Nayagoan. It is crucial to remember that any old IFSC codes belonging to UBGB or DBGB are no longer valid. For all transactions, only the new, updated IFSC code is to be used to avoid any transfer failures or delays.

What is an IFSC Code?

An IFSC code is an 11-character alphanumeric code used to identify bank branches participating in online money transfers. The Reserve Bank of India (RBI) assigns these codes to ensure that funds are directed accurately to the intended recipient’s bank and branch. Let’s break down the structure of the IFSC code for Bihar Gramin Bank, Nayagoan: PUNB0MBGB06.

• The first four characters represent the bank. In this case, PUNB stands for Punjab National Bank, which is the sponsoring bank for Bihar Gramin Bank.
• The fifth character is always a zero (0). This character is reserved for future use by the RBI.
• The last six characters identify the specific branch. For Nayagoan branch, this is MBGB06.

This unique combination ensures that every digital transaction reaches its precise destination, preventing common errors that might occur with just an account number.

How to Use an IFSC Code

Using an IFSC code is straightforward when initiating an online fund transfer. Here’s a step-by-step guide for NEFT, RTGS, and IMPS transactions:

1. Log In to Your Bank’s Online Platform: Access your internet banking portal or mobile banking app using your credentials.
2. Select Fund Transfer Option: Look for options like “Fund Transfer,” “NEFT,” “RTGS,” or “IMPS.”
3. Add Beneficiary (If New): If you’re sending money to someone for the first time, you’ll need to add them as a beneficiary. This usually involves providing their name, account number, account type (savings/current), and the crucial IFSC code of their bank branch.
4. Enter Transaction Details: Once the beneficiary is added or selected, enter the amount you wish to transfer.
5. Verify and Confirm: Double-check all the details, especially the account number and IFSC code. Errors here can lead to funds being sent to the wrong account. After verification, confirm the transaction.

The system uses the IFSC code to route your payment to the correct bank branch, ensuring a secure and efficient transfer.

Benefits of Knowing Your IFSC Code

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

• Seamless Fund Transfers: Enables quick and error-free NEFT, RTGS, and IMPS transactions.
• Enhanced Security: The unique code ensures funds are routed to the specific, intended branch, reducing the risk of fraud.
• Interbank Transactions: Facilitates transfers between different banks across India.
• Faster Processing: Helps in the automated processing of electronic payments, leading to quicker crediting of funds.
• Reduced Manual Errors: Minimizes the chances of human error that could occur with manual handling of transfer details.

Contact

For any queries related to your Bihar Gramin Bank Nayagoan account or services, you can reach out using the following details:

• Branch Phone Number: 9297955015
• Branch Address: Nayagoan, VAISHALI, 844506, Bihar
• Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

FAQs

Here are some frequently asked questions about IFSC codes:

Q1: What does IFSC stand for?
A1: IFSC stands for Indian Financial System Code. It’s an 11-character alphanumeric code used for identifying bank branches in India for electronic fund transfers.

Q2: Is the IFSC code the same for all branches of Bihar Gramin Bank?
A2: No, the first five characters (PUNB0) are common for all Bihar Gramin Bank branches sponsored by Punjab National Bank. However, the last six characters are unique to each specific branch, ensuring that each branch has its own distinct IFSC code.

Q3: What happens if I use an old or incorrect IFSC code for a transaction?
A3: If you use an old or incorrect IFSC code, your transaction will likely fail. The funds will not be transferred to the intended recipient’s account, and they will usually be returned to your account within a few hours or a day. Always verify the latest IFSC code before initiating a transfer.

Q4: How can I find the IFSC code for another branch of Bihar Gramin Bank?
A4: You can find the IFSC code for any branch on the bank’s official website, your cheque book, or your passbook. Many online financial portals and mobile banking apps also provide IFSC lookup services.

Q5: Is the MICR code also important for online transfers?
A5: While the IFSC code is crucial for NEFT, RTGS, and IMPS, the MICR (Magnetic Ink Character Recognition) code is primarily used for clearing physical cheques. It helps in the fast processing of cheques by identifying the bank and branch. You typically won’t need the MICR code for online fund transfers.