Bihar Gramin Bank BARAT IFSC Code

The Bihar Gramin Bank operates a branch in BARAT, a significant part of the Nawada district in Bihar. Understanding the Indian Financial System Code (IFSC) for this specific branch is key when you need to send or receive money electronically. The IFSC code acts like a unique digital address for each bank branch, ensuring that your funds reach the correct destination quickly and securely through payment systems like NEFT, RTGS, and IMPS. This code is essential for any digital money transfer, preventing errors and speeding up transactions.

Branch Details

Bank Name	Bihar Gramin Bank
Branch Name	BARAT
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	7273
Branch Address	BARAT, Nawada, 805103
Contact Number	9771464273
City	Nawada
District	Nawada
Reason	NAWADA
Pincode	805103
State	Bihar

Merger Update

Bihar Gramin Bank, like many Regional Rural Banks (RRBs) across India, operates under the sponsorship of a larger public sector bank. In this case, Punjab National Bank (PNB) is the sponsor. To streamline banking operations and bring these RRBs under a unified structure, there have been significant mergers. For instance, Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB) have merged and now use a common IFSC code framework under Punjab National Bank.

The IFSC code for Bihar Gramin Bank BARAT branch, PUNB0MBGB06, reflects this unified approach. It’s important to know that any old IFSC codes previously used for Uttar Bihar Gramin Bank or Dakshin Bihar Gramin Bank are now revoked and invalid. For all fund transfers involving these merged entities or any other regional rural bank operating under this unified system with PNB, only the new, standardized IFSC code like PUNB0MBGB06 is valid and must be used for all transactions.

What is an IFSC Code?

The IFSC code is an 11-character alphanumeric code used to identify all bank branches participating in electronic fund transfers. It helps direct your money to the exact branch you intend. Understanding its structure can be helpful:

• The first four characters represent the bank’s name. For example, ‘PUNB’ stands for Punjab National Bank.
• The fifth character is always ‘0’ (zero). This is a control character reserved for future use.
• The last six characters uniquely identify the specific bank branch. For the BARAT branch, these are ‘MBGB06’.

This unique combination ensures that when you initiate a transfer, your funds are routed precisely to the correct branch, even if there are multiple branches of the same bank in a single city.

How to Use an IFSC Code

Using an IFSC code is straightforward when performing electronic fund transfers through systems like NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), or IMPS (Immediate Payment Service). Here are the general steps:

1. Log in to your banking portal: Access your net banking account or mobile banking app.
2. Select “Fund Transfer”: Choose the option to send money, usually labeled “Fund Transfer” or “Payments.”
3. Add a Beneficiary: If you’re sending money to someone for the first time, you’ll need to add them as a beneficiary. This requires their bank account number, account holder’s name, and the critical IFSC code of their bank branch.
4. Enter Transaction Details: Once the beneficiary is added (or selected if already added), input the amount you wish to transfer and select the transfer type (NEFT, RTGS, or IMPS).
5. Verify and Confirm: Double-check all the details, especially the beneficiary account number and the IFSC code, to ensure accuracy before confirming the transfer.

The IFSC code is vital in step 3, as it tells your bank exactly which branch to send the money to.

Benefits of Knowing Your IFSC Code

Knowing the correct IFSC code offers several key advantages for financial transactions:

• Accurate Fund Transfers: It guarantees that your money reaches the intended recipient’s bank account and branch, preventing misdirected funds.
• Faster Processing: With the correct IFSC, electronic transfers like NEFT, RTGS, and IMPS are processed much more quickly than traditional methods.
• Enhanced Security: The unique code adds a layer of security by precisely identifying the destination branch, reducing the risk of fraud or errors.
• Tracking and Reconciliation: It helps banks accurately track and reconcile transactions, making it easier to resolve any potential issues.
• Mandatory for Digital Payments: For all major digital payment methods in India, the IFSC code is a mandatory piece of information.

Contact Information

Should you need to contact the BARAT branch or the bank’s head office, here are the details:

• BARAT Branch Phone Number: 9771464273
• BARAT Branch Address: BARAT, Nawada, 805103, Bihar
• Bihar Gramin Bank Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

Frequently Asked Questions (FAQs)

Q1: What is the IFSC code for Bihar Gramin Bank BARAT branch?
A1: The IFSC code for Bihar Gramin Bank, BARAT branch, is PUNB0MBGB06.

Q2: Why is the fifth character of an IFSC code always zero?
A2: The fifth character in every IFSC code is always ‘0’ (zero). This character is reserved for future use and acts as a control character, helping to maintain a standardized structure for all IFSC codes across different banks.

Q3: Can I use an old IFSC code if I previously had an account with Uttar Bihar Gramin Bank (UBGB) or Dakshin Bihar Gramin Bank (DBGB)?
A3: No, old IFSC codes for banks like Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB) are no longer valid due to mergers and rebranding. You must use the new, unified IFSC codes like PUNB0MBGB06 for any transactions involving these entities or other similar Regional Rural Banks under Punjab National Bank’s sponsorship.

Q4: What types of transactions require an IFSC code?
A4: An IFSC code is required for all electronic fund transfers within India. This includes transactions initiated through NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), and IMPS (Immediate Payment Service). It’s also needed when setting up recurring payments or direct debits.

Q5: Is the MICR code the same as the IFSC code?
A5: No, the MICR (Magnetic Ink Character Recognition) code is different from the IFSC code. The MICR code is a 9-digit numerical code printed on cheque leaves, primarily used for processing cheques. The IFSC code is an 11-character alphanumeric code used specifically for electronic fund transfers between bank branches.