Bihar Gramin Bank Balun IFSC Code

The Bihar Gramin Bank branch in Balun, a locality within the Siwan district of Bihar, serves as a vital financial hub for residents. To ensure smooth and secure electronic money transfers, such as NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), and IMPS (Immediate Payment Service), it is crucial to know the correct Indian Financial System Code (IFSC). This unique 11-character code identifies each bank branch participating in these interbank transactions, making sure your funds reach the intended recipient without error.

Branch Details

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

Bank Name	Bihar Gramin Bank
Branch Name	Balun
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	100649
Branch Address	Balun, SIWAN, 841244, 8709767395
Contact Number	8709767395
City	SIWAN
District	SIWAN
Pincode	841244
State	Bihar

Merger Update for Bihar Gramin Bank

Bihar Gramin Bank is a Regional Rural Bank (RRB) sponsored by Punjab National Bank (PNB). It was formed by the merger of Madhya Bihar Gramin Bank and Bihar Gramin Bank (the original entity). Following this consolidation, all branches operating under the unified Bihar Gramin Bank now use a standardized IFSC code structure. The IFSC code for this branch, PUNB0MBGB06, reflects this new system where ‘PUNB’ stands for Punjab National Bank (the sponsor bank) and ‘MBGB’ refers to the consolidated Bihar Gramin Bank. It is important to note that any old IFSC codes previously associated with predecessor banks are no longer valid for electronic transactions. For all fund transfers to the Balun branch of Bihar Gramin Bank, only the IFSC code PUNB0MBGB06 should be used.

What is an IFSC Code?

The Indian Financial System Code (IFSC) is a unique 11-character alphanumeric code. It’s used to identify every bank branch that participates in electronic fund transfers across India. This code ensures that money sent through NEFT, RTGS, or IMPS reaches the exact branch and account you intend.

Here’s how the IFSC code PUNB0MBGB06 breaks down:

• The first four characters, PUNB, identify the bank, which is Punjab National Bank (the sponsor bank for Bihar Gramin Bank).
• The fifth character is always a zero (0). This is reserved for future use.
• The last six characters, MBGB06, identify the specific branch. In this case, ‘MBGB’ denotes the Bihar Gramin Bank, and ’06’ is the specific code for the Balun branch.

How to Use the IFSC Code

Using the IFSC code is a straightforward process when you’re making an electronic fund transfer. Whether you’re sending money via NEFT, RTGS, or IMPS, you will typically follow these steps:

1. Log In: Access your online banking portal or mobile banking app.
2. Select Transfer Option: Choose the option for “Fund Transfer” or “Payments.”
3. Add Beneficiary: If you haven’t sent money to this account before, you will need to add the recipient as a new beneficiary.
4. Enter Beneficiary Details: Provide the beneficiary’s name, their account number, the bank’s name (Bihar Gramin Bank), and the branch address (Balun, Siwan).
5. Input IFSC Code: Carefully enter the IFSC code: PUNB0MBGB06. Double-check this code to avoid errors.
6. Enter Amount: Specify the amount you wish to transfer.
7. Confirm and Send: Review all the details and confirm the transaction. You might need to enter an OTP (One-Time Password) to complete the transfer.

For NEFT and RTGS, banks process transactions in batches or at specific intervals. IMPS transfers are usually processed instantly, 24/7.

Benefits of Knowing Your IFSC Code

Knowing the correct IFSC code for your bank branch offers several key advantages:

• It enables secure and accurate electronic fund transfers, reducing the risk of sending money to the wrong account.
• It facilitates quick and efficient transactions through NEFT, RTGS, and IMPS services.
• It is essential for receiving payments from other banks or financial institutions.
• It is often required when updating KYC (Know Your Customer) details or setting up recurring payments.
• It helps in tracking the correct bank and branch details for various financial activities.

Contact Information

Should you need to contact the Balun branch or the head office, here are the details:

• Balun Branch Phone Number: 8709767395
• Balun Branch Address: Balun, SIWAN, 841244, Bihar
• Bihar Gramin Bank Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

Frequently Asked Questions

Here are some common questions about IFSC codes:

Q1: Is an IFSC code required for all types of bank transactions?
A1: An IFSC code is specifically required for electronic fund transfers like NEFT, RTGS, and IMPS. It is not needed for cash deposits, withdrawals at the branch, or ATM transactions.

Q2: What happens if I enter an incorrect IFSC code?
A2: If you enter an incorrect IFSC code, your transaction will likely fail. The banking system will detect that the code does not match the beneficiary’s bank and branch details, and the transfer will not be processed. This helps prevent money from being sent to the wrong place.

Q3: Can I find the IFSC code on my bank passbook or cheque book?
A3: Yes, the IFSC code is almost always printed on your bank passbook and on the top left corner of your cheque leaves. You can also find it on your bank’s official website or through online IFSC lookup tools.

Q4: Is the IFSC code the same for all branches of Bihar Gramin Bank?
A4: No, each individual branch of Bihar Gramin Bank has a unique IFSC code. While the first few characters (e.g., PUNB0MBGB) might be similar for branches under the same regional bank and sponsor bank, the last six characters will be different for each distinct branch.

Q5: What is the difference between IFSC and MICR codes?
A5: The IFSC code (Indian Financial System Code) is used for online electronic fund transfers (NEFT, RTGS, IMPS). The MICR code (Magnetic Ink Character Recognition) is a 9-digit code used primarily for processing physical cheques. It helps in speeding up the clearing of cheques.