Bihar Gramin Bank Bagmali IFSC Code

The Bagmali branch of Bihar Gramin Bank is located in Vaishali, Bihar. For anyone looking to send or receive money electronically, understanding the Indian Financial System Code, or IFSC, is crucial. This unique code acts like a digital address, ensuring that your funds reach the correct bank and branch without any errors when you make online transfers like NEFT, RTGS, or IMPS. It is a key piece of information for all digital banking.

Branch Details

Bank Name	Bihar Gramin Bank
Branch Name	Bagmali
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	100850
Branch Address	Bagmali, VAISHALI, 844101, 9297954963
Contact Number	9297954963
City	VAISHALI
District	VAISHALI
Reason	HAJIPUR
Pincode	844101
State	Bihar

Merger Update

The bank you know as Bihar Gramin Bank has undergone significant changes over time due to government-mandated mergers of Regional Rural Banks (RRBs). Bihar Gramin Bank, along with other banks, merged to form Madhya Bihar Gramin Bank. This new entity is sponsored by Punjab National Bank. As a result, the IFSC code for branches like Bagmali now reflects this new structure and sponsorship. The current and valid IFSC code is PUNB0MBGB06. It’s important to know that any old IFSC codes previously used for Bihar Gramin Bank branches are no longer active. You must use the new code, PUNB0MBGB06, for all your financial transactions to ensure they go through correctly.

What is an IFSC Code?

An IFSC code is an 11-character alphanumeric code. It uniquely identifies every bank branch in India participating in online money transfers. Think of it as a unique address for a bank branch.

Here’s how the 11 characters are structured:

• The first four characters represent the bank’s name. For example, “PUNB” stands for Punjab National Bank, the sponsor bank for Madhya Bihar Gramin Bank.
• The fifth character is always a zero (0). This is kept as a control character for future use.
• The last six characters identify the specific branch. In the case of PUNB0MBGB06, “MBGB06” refers to the specific Bagmali branch under Madhya Bihar Gramin Bank.

This structure makes sure that every online transaction reaches the exact branch.

How to Use the IFSC Code

You will need the IFSC code for all types of electronic fund transfers, including NEFT, RTGS, and IMPS. Here’s a general guide on how to use it:

1. Gather Receiver Details: Before initiating any transfer, you will need the beneficiary’s (receiver’s) name, account number, bank name, and the IFSC code of their specific branch.
2. Log In to Your Net Banking or Mobile Banking App: Access your online banking portal or mobile application.
3. Select Fund Transfer Option: Look for options like “Fund Transfer,” “NEFT,” “RTGS,” or “IMPS.”
4. Add New Beneficiary: If you’re sending money to this person for the first time, you’ll need to add them as a new beneficiary. You will enter their name, account number, and the IFSC code (PUNB0MBGB06 for this branch).
5. Verify Details: The system will usually automatically fetch the bank and branch name once you enter the IFSC code. Always double-check these details to ensure accuracy.
6. Enter Amount and Confirm: Input the amount you wish to transfer and confirm the transaction using your password or PIN.

The IFSC code ensures that your money goes to the right place quickly and securely.

Benefits of Knowing the IFSC Code

Knowing the correct IFSC code for your bank branch, or for someone you wish to pay, offers several advantages:

• Ensures Correct Transfers: It guarantees that your online fund transfers (NEFT, RTGS, IMPS) reach the intended recipient’s bank account accurately.
• Speeds Up Transactions: Correct IFSC codes help process electronic transfers quickly, reducing delays.
• Prevents Errors: It minimizes the chances of money being sent to the wrong account or getting stuck in transit due to incorrect bank details.
• Required for Online Banking: It is a mandatory piece of information for setting up beneficiaries and initiating most online money transfer services.
• Account Verification: It helps in verifying the bank and branch details of a beneficiary, adding a layer of security to your transactions.

Contact Information

For any inquiries related to the Bagmali branch of Madhya Bihar Gramin Bank (formerly Bihar Gramin Bank), you can use the following contact details:

• Branch Phone Number: 9297954963
• Branch Address: Bagmali, VAISHALI, 844101, Bihar
• Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

Frequently Asked Questions (FAQs)

Q1: Is PUNB0MBGB06 the only valid IFSC code for Bihar Gramin Bank Bagmali branch?
A1: Yes, following the merger and formation of Madhya Bihar Gramin Bank, PUNB0MBGB06 is the current and only valid IFSC code for the Bagmali branch. Any older IFSC codes for Bihar Gramin Bank are no longer active.

Q2: What is the MICR code for Bagmali branch?
A2: The MICR (Magnetic Ink Character Recognition) code for the Bagmali branch is 800811002. This code is mainly used for processing cheques.

Q3: Can I use the old Bihar Gramin Bank IFSC code for my transactions?
A3: No, you should not use any old IFSC codes. Due to the merger, only the new code, PUNB0MBGB06, is valid for all electronic fund transfers to ensure your transactions are processed successfully.

Q4: Who sponsors Madhya Bihar Gramin Bank?
A4: Madhya Bihar Gramin Bank, which now includes branches formerly part of Bihar Gramin Bank, is sponsored by Punjab National Bank.

Q5: What is the purpose of the ‘0’ in the IFSC code?
A5: The fifth character, ‘0’, in an IFSC code is a control character reserved for future use. It helps maintain the unique identification structure across all bank branches.