Bihar Gramin Bank Bagaha Bazar IFSC Code

You are looking for information about the Bihar Gramin Bank, Bagaha Bazar branch. This article provides essential details for this specific branch, focusing on its Indian Financial System Code (IFSC). Knowing the correct IFSC code is crucial for any electronic fund transfers like NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), and IMPS (Immediate Payment Service). It ensures that your money reaches the right bank and the correct branch quickly and securely, whether you are sending money to a family member, paying a bill, or conducting any other financial transaction.

Branch Details Table

Here are the key details for the Bihar Gramin Bank, Bagaha Bazar branch:

Bank Name	Bihar Gramin Bank
Branch Name	Bagaha Bazar
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	100317
Branch Address	Bagaha Bazar, WEST CHAMPARAN, 845101, 9297954015
Contact Number	9297954015
City	WEST CHAMPARAN
District	WEST CHAMPARAN
Region	BETTIAH
Pincode	845101
State	Bihar

Merger Update

The provided IFSC code, PUNB0MBGB06, is associated with Madhya Bihar Gramin Bank, which is sponsored by Punjab National Bank. For regional rural banks in Bihar sponsored by Punjab National Bank, significant restructuring has taken place. Banks like Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB) have undergone mergers. As a result, old IFSC codes previously associated with entities like UBGB are no longer valid for transactions. Customers must now use the new, unified IFSC codes, such as PUNB0MBGB06, for any fund transfers to these restructured entities under Punjab National Bank. Always ensure you use the correct and most current IFSC code to avoid transaction failures and delays.

What is an IFSC Code?

The IFSC (Indian Financial System Code) is a unique eleven-character code that identifies every bank branch participating in online money transfers in India. It is essential for using services like NEFT, RTGS, and IMPS.

The structure of the 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 Madhya Bihar Gramin Bank.
• The fifth character is always a “0” (zero). This character is reserved for future use and remains constant across all IFSC codes.
• The last six characters identify the specific branch. In PUNB0MBGB06, “MBGB06” denotes the particular branch within the Madhya Bihar Gramin Bank network.

Each branch has its own distinct IFSC code, making it a reliable way to pinpoint the exact destination of your funds.

How to Use an IFSC Code

Using an IFSC code is straightforward when performing online fund transfers. Here’s a basic guide for the main services:

For NEFT (National Electronic Funds Transfer)

NEFT is a nationwide system for transferring funds from one bank account to another. It processes transactions in batches throughout the day.

1. Log in to your bank’s online banking portal or mobile app.
2. Select “Fund Transfer” and then “NEFT.”
3. Add the beneficiary (the person you are sending money to) if they are not already listed. You will need:
   • The beneficiary’s full name.
   • The beneficiary’s bank name (e.g., Bihar Gramin Bank).
   • The beneficiary’s account number.
   • The IFSC code of the beneficiary’s branch (e.g., PUNB0MBGB06).
4. Enter the amount you wish to transfer.
5. Confirm the details and complete the transaction.

For RTGS (Real Time Gross Settlement)

RTGS is designed for large-value transactions, typically above 2 lakh rupees. Funds are settled individually and in real-time, meaning the transfer happens almost immediately.

1. Access your online banking platform.
2. Choose “Fund Transfer” and then “RTGS.”
3. Provide the same beneficiary details as for NEFT:
   • Beneficiary’s full name.
   • Beneficiary’s bank name.
   • Beneficiary’s account number.
   • IFSC code of the beneficiary’s branch (e.g., PUNB0MBGB06).
4. Enter the transfer amount.
5. Verify all information before confirming the transaction.

For IMPS (Immediate Payment Service)

IMPS allows for instant, 24/7 fund transfers, even on holidays. It is commonly used for smaller, urgent transfers.

You can use IMPS in two main ways:

Using Account Number and IFSC Code:

1. Log in to your mobile banking app or internet banking.
2. Select “IMPS” and then the “Account Number + IFSC” option.
3. Enter the beneficiary’s account number and the IFSC code (e.g., PUNB0MBGB06).
4. Specify the amount.
5. Confirm the transaction.

Using Mobile Number and MMID (Mobile Money Identifier):

If the beneficiary has registered for IMPS with their mobile number and MMID, you can use these details instead of the account number and IFSC.

1. Select “IMPS” and the “Mobile Number + MMID” option.
2. Enter the beneficiary’s registered mobile number and their 7-digit MMID.
3. Enter the amount.
4. Confirm the transaction.

Always double-check the IFSC code and other beneficiary details before initiating any transfer to prevent errors.

Benefits of Knowing Your IFSC Code

Understanding and using the correct IFSC code offers several advantages for bank account holders:

• Enables Online Transfers: It is mandatory for all inter-bank electronic fund transfers, including NEFT, RTGS, and IMPS.
• Ensures Accuracy: The unique code guarantees that your money is routed to the exact bank and branch specified, minimizing the risk of funds going to the wrong account.
• Speeds Up Transactions: By precisely identifying the destination branch, IFSC codes help facilitate faster processing of online payments.
• Essential for Many Services: Beyond fund transfers, an IFSC code is often required when setting up recurring payments, making online bill payments, or linking your bank account to various financial apps and services.
• Prevents Fraud: Using a verified IFSC code adds a layer of security to your transactions by ensuring you are interacting with a legitimate bank branch.

Contact Information

For inquiries related to the Bihar Gramin Bank Bagaha Bazar branch or for general banking assistance, you can use the following contact details:

• Branch Phone Number: 9297954015
• Branch Address: Bagaha Bazar, WEST CHAMPARAN, 845101
• Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

Frequently Asked Questions

What is the IFSC code for Bihar Gramin Bank, Bagaha Bazar branch?

The IFSC code for the Bihar Gramin Bank, Bagaha Bazar branch is PUNB0MBGB06.

Can I use an old IFSC code if I remember it for a Bihar Gramin Bank transaction?

No, it is highly recommended to always use the most current IFSC code. Due to mergers and restructuring, especially concerning regional rural banks sponsored by Punjab National Bank, old IFSC codes may become invalid. Using an outdated code will likely result in transaction failure.

Is an IFSC code required for all online transactions?

An IFSC code is essential for most inter-bank online fund transfers within India (NEFT, RTGS, IMPS when using account number). It helps the banking system direct your funds to the correct receiving bank and branch.

How can I find the correct IFSC code if I don’t have it?

You can usually find the IFSC code on your bank passbook, cheque book, or by logging into your bank’s net banking portal or mobile app. Reputable third-party financial websites or the official Reserve Bank of India (RBI) website can also provide this information.

What is the difference between an IFSC code and a MICR code?

The IFSC (Indian Financial System Code) is an 11-character code used for electronic fund transfers (NEFT, RTGS, IMPS) to identify a specific bank branch. The MICR (Magnetic Ink Character Recognition) code is a 9-digit numerical code printed on cheque leaves, primarily used for clearing physical cheques.