Bihar Gramin Bank BARAHPUR IFSC Code

The Bihar Gramin Bank branch in BARAHPUR, located in Patna, Bihar, serves a vital role for local residents and businesses. To make any digital fund transfers such as NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), or IMPS (Immediate Payment Service), knowing the correct IFSC (Indian Financial System Code) for this branch is essential. This unique code acts like a digital address, ensuring your money reaches the right bank and branch accurately and quickly.

Branch Details

Bank Name	Bihar Gramin Bank
Branch Name	BARAHPUR
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	7309
Branch Address	BARAHPUR, Patna, 803302, 9771464309
Contact Number	9771464309
City	Patna
District	Patna
Reason	PATNA
Pincode	803302
State	Bihar

Merger Update

The banking landscape in Bihar has seen some significant changes over time. Bihar Gramin Bank, including its BARAHPUR branch, has become part of the larger Madhya Bihar Gramin Bank (MBGB). This merger means that Madhya Bihar Gramin Bank now functions under the sponsorship of Punjab National Bank. Because of this change, all branches that were previously part of Bihar Gramin Bank now use the Madhya Bihar Gramin Bank IFSC code series.

For the BARAHPUR branch, the valid IFSC code for all fund transfers is PUNB0MBGB06. It is very important to understand that any older IFSC codes associated with Bihar Gramin Bank are no longer active or valid for transactions like NEFT, RTGS, or IMPS. Always use PUNB0MBGB06 to ensure your money transfers are successful.

What is an IFSC Code?

An IFSC code stands for Indian Financial System Code. It is an 11-character alphanumeric code that uniquely identifies every bank branch participating in online fund transfers within India. Think of it like a unique digital address for each branch. This code is crucial for ensuring that your money is sent to the correct recipient bank and branch when you perform transactions like NEFT, RTGS, or IMPS.

The structure of the IFSC code is quite specific:

• The first four characters represent the bank name. For PUNB0MBGB06, “PUNB” stands for Punjab National Bank, which is the sponsoring bank for Madhya Bihar Gramin Bank.
• The fifth character is always a ‘0’ (zero). This is a control character reserved for future use.
• The last six characters uniquely identify the specific bank branch. In our case, “MBGB06” points to the specific Madhya Bihar Gramin Bank branch series, with ’06’ likely denoting a specific regional or internal identifier for the BARAHPUR branch within the MBGB network.

How to Use the IFSC Code

Using the IFSC code correctly is key to successful online money transfers. Here’s how you’ll typically use it for different types of transactions:

For NEFT (National Electronic Funds Transfer)

NEFT is a nation-wide electronic fund transfer system. It processes transactions in batches. When you initiate an NEFT transfer:

1. Log in to your net banking account or mobile banking app.
2. Select the “Fund Transfer” option and then “NEFT.”
3. Add a new beneficiary or select an existing one.
4. Enter the beneficiary’s name, account number, and confirm it.
5. Input the correct IFSC code for the beneficiary’s branch (e.g., PUNB0MBGB06 for Bihar Gramin Bank BARAHPUR branch).
6. Enter the amount you wish to transfer.
7. Confirm the details and complete the transaction.

For RTGS (Real Time Gross Settlement)

RTGS is for large-value transactions that are processed continuously on a “real-time” basis. The minimum amount for RTGS is ₹2 lakhs. The steps are similar to NEFT:

1. Access your online banking portal or app.
2. Choose “Fund Transfer” and then “RTGS.”
3. Select or add the beneficiary’s details, including their name and account number.
4. Provide the beneficiary’s IFSC code (e.g., PUNB0MBGB06).
5. Specify the amount (must be ₹2 lakhs or more).
6. Review all information carefully and proceed with the transfer.

For IMPS (Immediate Payment Service)

IMPS is a faster way to transfer money instantly, even on holidays, 24/7. It is often used for smaller, urgent transfers.

1. Open your mobile banking app or internet banking portal.
2. Select the “IMPS” option under “Fund Transfer.”
3. You can transfer using the beneficiary’s mobile number and MMID, or by using their account number and IFSC code. Choose the “Account Number + IFSC” method.
4. Enter the beneficiary’s account number and the IFSC code (PUNB0MBGB06).
5. Input the amount.
6. Verify the details and confirm the transaction. The money is usually credited immediately.

Benefits of Knowing the IFSC Code

Knowing the correct IFSC code for your bank branch, or for the recipient’s branch, offers several important benefits:

• Accurate Fund Transfers: It ensures that your money is routed to the exact bank and branch you intend, preventing misdirection of funds.
• Faster Processing: With the correct IFSC, online transactions like NEFT, RTGS, and IMPS are processed efficiently and quickly.
• Reduced Errors: It minimizes the chances of errors that could occur with manual entry or incorrect bank details.
• Security: The unique code adds an extra layer of authentication and security to electronic transactions.
• Essential for Online Banking: It is a mandatory piece of information for almost all digital fund transfer services provided by banks.
• Access to Branch-Specific Services: While primarily for digital transfers, the IFSC also implicitly identifies the physical branch for certain inquiries or services.

Contact Information

If you need to contact the BARAHPUR branch or the head office, here are the details:

• BARAHPUR Branch Phone Number: 9771464309
• BARAHPUR Branch Address: BARAHPUR, Patna, 803302, Bihar
• Head Office Address (Madhya Bihar Gramin Bank): SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number (Madhya Bihar Gramin Bank): 18001807777

Frequently Asked Questions (FAQs)

Q1: Is IFSC code mandatory for all types of bank transactions?
A: The IFSC code is mandatory for all electronic fund transfers within India, specifically NEFT, RTGS, and IMPS. For cash deposits or withdrawals at a physical branch, or for cheque clearances within the same branch, it is not directly required.

Q2: What happens if I use a wrong IFSC code during a transaction?
A: If you enter an incorrect IFSC code, the transaction will likely fail and be rejected by the system. In some rare cases, if the incorrect code belongs to another valid branch and the account number matches a different person, your funds could be sent to the wrong recipient. Always double-check the IFSC code.

Q3: Where can I find the IFSC code for my bank branch?
A: You can usually find the IFSC code printed on your bank cheque book. It is also available on your bank’s passbook, official bank website, mobile banking app, or by contacting customer service. You can also find it on various financial portals and directories, but always cross-verify with an official source.

Q4: Can the IFSC code for a branch change?
A: Yes, an IFSC code can change, especially due to events like bank mergers, acquisitions, or internal restructuring. As seen with Bihar Gramin Bank becoming part of Madhya Bihar Gramin Bank, the old IFSC codes were replaced. It is always wise to confirm the current IFSC code if you haven’t performed a transaction to a particular account in a long time.

Q5: Is MICR code the same as IFSC code?
A: No, MICR (Magnetic Ink Character Recognition) code and IFSC code are different, although both are used for bank transactions. The MICR code is a 9-digit code used mainly for processing cheques, typically found at the bottom of a cheque leaf. The IFSC code, as discussed, is an 11-character alphanumeric code for online fund transfers.