Bihar Gramin Bank Baranti IFSC Code

The Bihar Gramin Bank branch in Baranti, located in the Vaishali district of Bihar, plays an important role in the financial activities of its local community. Understanding its unique identifier, the IFSC code, is essential for any modern banking transaction. The IFSC code is a specific eleven-character code that allows for smooth and secure electronic fund transfers. It is mandatory for services like National Electronic Funds Transfer (NEFT), Real-Time Gross Settlement (RTGS), and Immediate Payment Service (IMPS). This code ensures that your money reaches the correct bank and specific branch without error.

Branch Details

Here are the key details for the Bihar Gramin Bank, Baranti branch:

Bank Name	Bihar Gramin Bank
Branch Name	Baranti
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	100173
Branch Address	Baranti, VAISHALI, 844502, Bihar
Contact Number	9297954968
City	VAISHALI
District	VAISHALI
Reason	HAJIPUR
Pincode	844502
State	Bihar

Merger Update

Previously, Bihar had two prominent regional rural banks: Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB). These two banks have since merged to form the single entity known as Bihar Gramin Bank. This newly formed bank operates under the sponsorship of Punjab National Bank.

As a result of this merger, all banking operations for Bihar Gramin Bank now use a unified IFSC code structure. The code PUNB0MBGB06, as seen for the Baranti branch, is part of this new system. It is crucial to note that any old IFSC codes associated with Uttar Bihar Gramin Bank or Dakshin Bihar Gramin Bank are now invalid. For any financial transaction, only the new IFSC codes, starting with “PUNB0MBGB,” are valid and must be used.

What is IFSC Code?

IFSC stands for Indian Financial System Code. It is an eleven-character alphanumeric code that uniquely identifies every bank branch in India participating in the NEFT, RTGS, and IMPS networks. This code is essential for electronic money transfers.

The structure of an IFSC code is specific:

• The first four characters represent the bank name. For the Baranti branch, “PUNB” indicates Punjab National Bank, which is the sponsor bank for Bihar Gramin Bank.
• The fifth character is always a zero (0). This character is reserved for future use and helps distinguish between the bank code and the branch code.
• The last six characters uniquely identify the specific bank branch. In this case, “MBGB06” points to the Baranti branch of Bihar Gramin Bank.

Using the correct IFSC code ensures that your money is transferred accurately to the intended recipient’s bank and branch, preventing delays or misdirection of funds.

How to Use IFSC Code

Using the IFSC code is a straightforward process when you are transferring funds electronically. Whether you are sending money via NEFT, RTGS, or IMPS, the steps are generally similar:

1. Log In: Access your net banking account or mobile banking application.
2. Select Transfer Type: Choose the type of fund transfer you wish to make (NEFT, RTGS, or IMPS).
3. Add Beneficiary: If you are sending money to a new recipient, you will need to add them as a beneficiary. This usually involves providing their name, account number, and the correct IFSC code for their bank branch.
4. Enter Details: Carefully enter the recipient’s bank account number, confirm it, and then input the IFSC code PUNB0MBGB06 if you are sending money to the Baranti branch of Bihar Gramin Bank. The bank name often auto-fills once the IFSC code is entered.
5. Specify Amount: Enter the amount of money you wish to transfer.
6. Review and Confirm: Double-check all the entered details, especially the account number and IFSC code, to prevent errors. Then, confirm the transaction.

Accuracy is key when entering the IFSC code. An incorrect code can lead to your transaction being rejected or, in rare cases, sent to the wrong account.

Benefits of Knowing Your IFSC Code

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

• Ensures Accuracy: The primary benefit is that it guarantees your funds are routed to the precise bank and specific branch where the recipient holds an account, minimizing transfer errors.
• Facilitates Fast Transfers: It is a mandatory requirement for quick electronic fund transfer systems like NEFT, RTGS, and IMPS, allowing for rapid movement of money.
• Enhances Security: By uniquely identifying each branch, it adds a layer of security to online transactions, reducing the chances of fraud or misdirection of funds.
• Enables Online Banking: Without an IFSC code, you cannot conduct electronic fund transfers through internet banking or mobile banking platforms.
• Simplifies Information: It condenses all necessary bank and branch identification into a single, easy-to-use code.

Contact Information

For inquiries or assistance regarding the Bihar Gramin Bank, Baranti branch, or general banking services, you can use the following contact details:

• Branch Phone Number: 9297954968
• Branch Address: Baranti, VAISHALI, 844502, Bihar
• Bihar Gramin Bank Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

FAQs

Here are some commonly asked questions about IFSC codes and Bihar Gramin Bank:

Q1: What does PUNB0MBGB06 signify?
A1: PUNB0MBGB06 is the Indian Financial System Code (IFSC) for the Baranti branch of Bihar Gramin Bank. “PUNB” indicates Punjab National Bank, the sponsor bank. The ‘0’ is a placeholder, and “MBGB06” identifies the specific Baranti branch of Bihar Gramin Bank.

Q2: Can I use an old IFSC code for Uttar Bihar Gramin Bank (UBGB) or Dakshin Bihar Gramin Bank (DBGB)?
A2: No, you cannot. Uttar Bihar Gramin Bank and Dakshin Bihar Gramin Bank have merged to form Bihar Gramin Bank. All old IFSC codes for UBGB and DBGB are revoked. You must use the new IFSC code format, like PUNB0MBGB06, for all transactions with Bihar Gramin Bank.

Q3: Is the IFSC code the same for all branches of Bihar Gramin Bank?
A3: No, the IFSC code is unique for each individual branch of Bihar Gramin Bank. While the first few characters (PUNB0MBGB) might be similar across branches under the same umbrella, the last six characters will be different to identify each specific branch.

Q4: What should I do if I accidentally enter the wrong IFSC code during a transaction?
A4: If you enter an incorrect IFSC code, the transaction will most likely fail immediately and be rejected by the system. The money will then be reversed to your account. However, if the incorrect IFSC code corresponds to a valid branch and account number, the funds could potentially be transferred to the wrong recipient. Always double-check the IFSC code and account number before confirming any transaction.

Q5: What types of transactions require an IFSC code?
A5: An IFSC code is required for all major electronic fund transfer methods in India, including National Electronic Funds Transfer (NEFT), Real-Time Gross Settlement (RTGS), and Immediate Payment Service (IMPS). It is also needed for setting up recurring payments or for adding beneficiaries in online banking.