Bihar Gramin Bank AKBARPUR IFSC Code

The Bihar Gramin Bank branch located in AKBARPUR, Rohtas, Bihar, plays a vital role in local banking services. Understanding its Indian Financial System Code (IFSC) is crucial for anyone needing to transfer funds electronically. The IFSC is a unique code that acts like a digital address, ensuring that your money reaches the correct bank and branch during online transactions. This code is absolutely essential for common fund transfer methods such as National Electronic Funds Transfer (NEFT), Real-Time Gross Settlement (RTGS), and Immediate Payment Service (IMPS).

Branch Details

Bank Name	Bihar Gramin Bank
Branch Name	AKBARPUR
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	7327
Branch Address	AKBARPUR, Rohtas, 821311, 9771464327
Contact Number	9771464327
City	Rohtas
District	Rohtas
Reason	SASARAM
Pincode	821311
State	Bihar

Merger Update

Bihar Gramin Bank was formed from the merger of two significant regional rural banks: Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB). This merger led to the creation of a unified entity, now sponsored by Punjab National Bank (PNB). As a result of this change, all branches under Bihar Gramin Bank now use a standardized IFSC code format that begins with PUNB0MBGB.

It is important to note that any old IFSC codes previously used by Uttar Bihar Gramin Bank (UBGB) or Dakshin Bihar Gramin Bank (DBGB) branches have been revoked. These old codes are no longer valid for any online transactions. For the AKBARPUR branch of Bihar Gramin Bank, only the new IFSC code, PUNB0MBGB06, is valid for all electronic fund transfers.

What is IFSC Code?

IFSC stands for Indian Financial System Code. It is an 11-character alphanumeric code that uniquely identifies every bank branch in India participating in online fund transfers. This code is crucial for ensuring that your money is sent to the correct recipient bank and branch without errors.

The structure of the IFSC code is specific:

• The first four characters represent the bank code. For instance, in PUNB0MBGB06, “PUNB” identifies Punjab National Bank, which is the sponsor bank for Bihar Gramin Bank.
• The fifth character is always a zero (0). This character is reserved for future use, such as accommodating changes in bank or branch structures if needed.
• The last six characters uniquely identify the specific branch. In the example of PUNB0MBGB06, “MBGB06” refers to the AKBARPUR branch of Bihar Gramin Bank.

Knowing this structure helps in verifying the authenticity of the code and understanding which bank and branch it belongs to.

How to Use IFSC Code

Using the IFSC code is a straightforward process when you want to transfer money electronically. Here’s how it generally works for different types of transactions:

When you initiate an online fund transfer through NEFT, RTGS, or IMPS, you will typically need the following details:

1. The beneficiary’s name (the person or entity receiving the money).
2. The beneficiary’s account number.
3. The account type (e.g., savings, current).
4. The IFSC code of the beneficiary’s bank branch.

Here’s a brief look at how it applies to each transfer method:

• NEFT (National Electronic Funds Transfer): This system processes transactions in batches, usually hourly. You input the beneficiary details, including the IFSC, and the bank initiates the transfer. It’s suitable for small to medium value transactions.
• RTGS (Real-Time Gross Settlement): This is designed for high-value transactions. Funds are transferred individually and in real-time, meaning the money moves almost instantly. The IFSC code is critical for identifying the specific branch for this immediate transfer.
• IMPS (Immediate Payment Service): This service allows instant, 24/7 fund transfers, even on holidays. It’s often used for smaller, urgent transfers via mobile banking or internet banking. Like NEFT and RTGS, the correct IFSC ensures the funds reach the intended branch immediately.

Always double-check the IFSC code before confirming any transaction to prevent errors and ensure your money reaches the right destination.

Benefits

Understanding and using the correct IFSC code offers several important benefits:

• It ensures the accurate and secure transfer of funds to the intended bank and branch.
• It enables faster processing of electronic payments, especially with IMPS and RTGS, saving time for both senders and receivers.
• It helps in uniquely identifying specific bank branches across the entire country, which is vital for the vast Indian banking network.
• The IFSC is essential for all online and mobile banking transactions, making digital banking services possible.
• It significantly reduces the chance of manual errors that could occur with traditional paper-based banking methods.
• It supports the government’s push for a cashless economy by making digital transfers reliable and easy.

Contact Section

For any queries related to the AKBARPUR branch of Bihar Gramin Bank, you can use the following contact details:

• Branch Phone Number: 9771464327
• Branch Address: AKBARPUR, Rohtas, 821311, Bihar
• Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

FAQs

Here are some frequently asked questions about the Bihar Gramin Bank AKBARPUR IFSC code:

Q1: What is the IFSC code for Bihar Gramin Bank, AKBARPUR branch?
A: The IFSC code for Bihar Gramin Bank, AKBARPUR branch, is PUNB0MBGB06.

Q2: Is Bihar Gramin Bank a new bank, and who is its sponsor?
A: Yes, Bihar Gramin Bank was formed through the merger of Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB). Its sponsor bank is Punjab National Bank (PNB).

Q3: Can I still use the old IFSC code for a UBGB or DBGB branch for transactions?
A: No, you cannot. All old IFSC codes for Uttar Bihar Gramin Bank and Dakshin Bihar Gramin Bank have been revoked. Only the new IFSC codes, which begin with PUNB0MBGB, are valid for all electronic transactions.

Q4: What information do I need in addition to the IFSC code to transfer funds online?
A: To transfer funds online, you will also need the beneficiary’s name, their account number, and the type of their bank account (e.g., savings or current).

Q5: Why is the IFSC code important for online fund transfers?
A: The IFSC code is vital because it acts as a unique digital address for each bank branch. It ensures that your money is directed to the exact intended bank and branch, preventing errors and ensuring the security and accuracy of your transaction.