Bihar Gramin Bank Balua Bazar IFSC Code

This article provides details for the Bihar Gramin Bank branch located in Balua Bazar. Knowing the Indian Financial System Code (IFSC) for this branch is crucial for secure and efficient electronic fund transfers. Whether you are sending money through NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), or IMPS (Immediate Payment Service), the correct IFSC code ensures your funds reach the intended recipient without delay or error. It acts as a unique identifier for each bank branch across India.

Branch Details

Here are the complete details for the Bihar Gramin Bank, Balua Bazar branch:

Bank Name	Bihar Gramin Bank
Branch Name	Balua Bazar
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	100784
Branch Address	Balua Bazar, SUPAUL, 852216, 9297954631
Contact Number	9297954631
City	SUPAUL
District	SUPAUL
Reason	SAHARSA
Pincode	852216
State	Bihar

Merger Update

Bihar Gramin Bank, along with other regional rural banks in Bihar such as Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB), has undergone significant mergers. These mergers were part of a larger consolidation effort to streamline banking services and improve efficiency. As a result, many regional rural banks now operate under a unified structure, with Punjab National Bank (PNB) as the sponsoring bank.

The IFSC code for Bihar Gramin Bank branches, including Balua Bazar, is now standardized as PUNB0MBGB06. This code replaced any older IFSC codes previously used by constituent banks like UBGB or DBGB. It is important to note that any old UBGB or DBGB IFSC codes are now revoked and are no longer valid for transactions. Always use the current code, PUNB0MBGB06, for all your fund transfers to ensure they are processed correctly.

What is IFSC Code?

The IFSC (Indian Financial System Code) is a unique 11-character alphanumeric code used to identify all bank branches in India. This code is essential for electronic fund transfers like NEFT, RTGS, and IMPS. Knowing the structure helps you verify its authenticity:

• The first four characters represent the bank name. For example, ‘PUNB’ stands for Punjab National Bank, the sponsoring bank for Bihar Gramin Bank.
• The fifth character is always ‘0’ (zero). This is kept as a control character for future use.
• The last six characters identify the specific branch. For the Balua Bazar branch, this part is ‘MBGB06’, which identifies it within the Madhya Bihar Gramin Bank (which later merged into Bihar Gramin Bank) network.

For instance, PUNB0MBGB06 breaks down as PUNB (sponsoring bank), 0 (filler), and MBGB06 (specific branch identifier).

How to Use IFSC Code

Using the IFSC code is a straightforward process when you are making electronic fund transfers. Here’s how it works for different transaction types:

1. NEFT (National Electronic Funds Transfer):
   • Log in to your bank’s online banking portal or mobile app.
   • Go to the ‘Fund Transfer’ or ‘Payments’ section.
   • Select ‘NEFT’.
   • Add a new beneficiary or select an existing one.
   • Enter the beneficiary’s bank name (Bihar Gramin Bank), account number, and the correct IFSC code (PUNB0MBGB06).
   • Enter the amount you wish to send and confirm the transaction. NEFT transactions are processed in batches throughout the day.
2. RTGS (Real Time Gross Settlement):
   • Similar to NEFT, access your online banking or visit your bank branch.
   • Choose ‘RTGS’ as the transfer type.
   • Input the beneficiary’s details: bank name, account number, and the IFSC code (PUNB0MBGB06).
   • RTGS is for high-value transactions (typically above ₹2 lakh) and is processed individually in real-time.
3. IMPS (Immediate Payment Service):
   • IMPS allows instant fund transfers 24/7.
   • Use your mobile banking app or internet banking.
   • Select ‘IMPS’ and choose ‘Account Number + IFSC’ as the transfer method.
   • Enter the beneficiary’s account number and the IFSC code (PUNB0MBGB06).
   • Confirm the amount and proceed. The money is transferred almost instantly.

Always double-check the IFSC code, account number, and beneficiary name before confirming any transfer to avoid errors.

Benefits of Knowing IFSC Code

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

• Accurate Fund Transfers: Ensures your money reaches the correct recipient branch every time, minimizing transfer errors.
• Faster Processing: Enables quick processing of electronic transactions like NEFT, RTGS, and IMPS.
• Secure Transactions: Adds a layer of security by uniquely identifying the destination branch, preventing misdirection of funds.
• Convenience: Facilitates easy online and mobile banking transactions from anywhere.
• Mandatory Requirement: It is a compulsory piece of information for all inter-bank electronic fund transfers within India.
• Branch Identification: Helps in quickly identifying a specific bank branch even if you only have the branch name.

Contact Section

For any inquiries related to the Balua Bazar branch or Bihar Gramin Bank in general, you can use the following contact details:

• Branch Phone Number: 9297954631
• Branch Address: Balua Bazar, SUPAUL, 852216, Bihar
• Bihar Gramin Bank 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 Balua Bazar IFSC code:

Q1: Is the IFSC code PUNB0MBGB06 valid for all Bihar Gramin Bank branches?
A1: While PUNB0MBGB06 is a common format for Bihar Gramin Bank branches under the Punjab National Bank sponsorship, each specific branch will have a unique last six characters. The “MBGB” part indicates the broader entity, but the full 11-character code is branch-specific. Always verify the exact IFSC for your specific branch.

Q2: What is the difference between an IFSC code and a MICR code?
A2: The IFSC code (Indian Financial System Code) is an 11-character alphanumeric code used for electronic fund transfers (NEFT, RTGS, IMPS). The MICR code (Magnetic Ink Character Recognition) is a 9-digit numerical code printed on cheque leaves. It identifies the bank, city, and branch for clearing paper-based transactions like cheques.

Q3: Can I transfer money using only the account number and not the IFSC code?
A3: No, for inter-bank electronic fund transfers (NEFT, RTGS, IMPS) within India, the IFSC code is mandatory along with the beneficiary’s account number. It ensures that your funds are directed to the correct bank and branch.

Q4: What if I use an old or incorrect IFSC code for a transaction?
A4: If you use an old or incorrect IFSC code, your transaction will likely fail or be rejected by the banking system. In some rare cases, if the incorrect code still points to a valid but wrong branch, your funds could be misdirected. Always double-check the IFSC code to prevent delays or loss of funds.

Q5: Where can I find the correct IFSC code for my Bihar Gramin Bank branch?
A5: You can find the correct IFSC code on your bank passbook, cheque book, or by visiting the official website of Bihar Gramin Bank or Punjab National Bank. You can also contact the customer care number provided above or visit the specific branch.