The Bihar Gramin Bank branch in Baghoi Bazar is located in the Aurangabad district of Bihar. For anyone needing to send or receive money online through this branch, knowing its Indian Financial System Code (IFSC) is essential. This unique code acts as a digital address, ensuring that funds transferred via systems like NEFT (National Electronic Funds Transfer), RTGS (Real-Time Gross Settlement), and IMPS (Immediate Payment Service) reach the correct bank account without any errors.
Branch Details
| Bank Name | Bihar Gramin Bank |
| Branch Name | BAGHOI BAZAR |
| IFSC Code | PUNB0MBGB06 |
| MICR Code | 800811002 |
| Branch Code | MBGB06 |
| Branch Address | BAGHOI BAZAR, Aurangabad, 824122 |
| Contact Number | 7070196993 |
| City | Aurangabad |
| District | Aurangabad |
| State | Bihar |
Important Merger Update
Previously, banking services in the region were provided by two separate entities: Dakshin Bihar Gramin Bank (DBGB) and Uttar Bihar Gramin Bank (UBGB). These two banks have since merged to form the single entity now known as Bihar Gramin Bank. This new bank is sponsored by Punjab National Bank (PNB).
Following the merger, all old IFSC codes belonging to the former DBGB and UBGB branches have been discontinued. It is crucial to use only the new IFSC codes for all transactions. For the Baghoi Bazar branch, the valid and current IFSC code is PUNB0MBGB06. Using an old, revoked code will cause your transaction to fail.
What is an IFSC Code?
An IFSC code is an 11-character alphanumeric code that uniquely identifies a bank branch participating in the NEFT system. The code is structured to provide specific information about the bank and its branch.
Let’s break down the IFSC code for this branch, PUNB0MBGB06:
- PUNB: The first four letters represent the name of the bank. In this case, ‘PUNB’ stands for Punjab National Bank, the sponsor bank for Bihar Gramin Bank.
- 0: The fifth character is always a zero. It is reserved for future use by the Reserve Bank of India (RBI).
- MBGB06: The last six characters identify the specific branch. For this branch, ‘MBGB06’ points directly to the Baghoi Bazar location.
How to Use the IFSC Code for Fund Transfers
Using the IFSC code for an online money transfer is a straightforward process. When you add a new beneficiary or initiate a one-time payment through your internet banking portal or mobile app, you will need to provide the following details:
- Beneficiary’s Name: The full name of the person or entity as it appears on their bank account.
- Beneficiary’s Account Number: The exact account number of the recipient.
- Bank Name: Bihar Gramin Bank.
- IFSC Code: Enter PUNB0MBGB06 in the designated field.
After filling in these details and the transfer amount, you can proceed with the transaction using NEFT, RTGS, or IMPS. The banking system uses the IFSC code to route the money to the correct destination branch.
Benefits of Using the Correct IFSC Code
- Accuracy: It eliminates the risk of sending money to the wrong bank or branch, ensuring your funds are secure.
- Speed: A valid IFSC code helps automate the transfer process, leading to faster crediting of funds to the beneficiary’s account.
- Error Prevention: Financial systems can immediately flag an invalid IFSC code, preventing the transaction from being processed incorrectly and saving you time.
- Universal Requirement: It is mandatory for all major electronic payment methods in India, making it a fundamental piece of information for digital banking.
Contact Information
For direct assistance or inquiries, you can reach out to the branch or the bank’s head office.
Branch Contact
Phone: 7070196993
Address: BAGHOI BAZAR, Aurangabad, Bihar – 824122
Head Office
Address: Shri Vishnu Commercial Complex, Asochak, Patna, Bihar – 800030
Toll-Free Number: 18001807777
Frequently Asked Questions
1. What will happen if I use an old IFSC code from Dakshin Bihar Gramin Bank?
Your transaction will be rejected. The old codes are no longer active in the banking network. You must use the new code, PUNB0MBGB06, for all transfers to this branch.
2. Is the IFSC code the same for all branches of Bihar Gramin Bank?
No, each branch has its own unique IFSC code. The first part (‘PUNB0’) might be common across many branches, but the last six characters are specific to each location.
3. Where else can I find my branch’s IFSC code?
The IFSC code is printed on the cheque leaves issued by the bank, usually near the top. It is also often printed on the first page of your bank passbook.
4. What is the difference between an IFSC code and a MICR code?
An IFSC code is used for electronic fund transfers like NEFT and RTGS. A MICR (Magnetic Ink Character Recognition) code is a 9-digit code found at the bottom of a cheque leaf and is used primarily for processing physical cheques.
5. Do I need an IFSC code for UPI payments?
Typically, you do not need to enter an IFSC code for UPI transactions, as they work using a Virtual Payment Address (VPA). However, the UPI system uses your bank account details, which are linked to an IFSC code, to process the payment in the background.
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.