This article provides important details about the Bihar Gramin Bank branch located in Basahi, SARAN, Bihar. Understanding the Indian Financial System Code (IFSC) is crucial for any online money transfer. Whether you are sending funds through NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), or IMPS (Immediate Payment Service), the correct IFSC code ensures your money reaches the right account without issues.
Branch Details
Here are the key details for the Bihar Gramin Bank, Basahi branch:
| Bank Name | Bihar Gramin Bank |
| Branch Name | Basahi |
| IFSC Code | PUNB0MBGB06 |
| MICR Code | 800811002 |
| Branch Code | 100597 |
| Branch Address | Basahi, SARAN, 841311, 9297955199 |
| Contact Number | 9297955199 |
| City | SARAN |
| District | SARAN |
| Reason | CHAPRA |
| Pincode | 841311 |
| State | Bihar |
Merger Update
Bihar Gramin Bank was formed through a significant merger of two regional rural banks: Dakshin Bihar Gramin Bank (DBGB) and Madhya Bihar Gramin Bank (MBGB). Both of these former banks were sponsored by Punjab National Bank. This merger aimed to consolidate operations and streamline services across Bihar.
As a direct result of this consolidation, all previous IFSC codes belonging to the erstwhile Dakshin Bihar Gramin Bank and Madhya Bihar Gramin Bank are no longer valid. For branches now operating under Bihar Gramin Bank, such as Basahi, the unified and correct IFSC code is PUNB0MBGB06. It’s crucial to use only this new code for all your financial transactions. Additionally, it is important for customers to know that old IFSC codes for Uttar Bihar Gramin Bank (UBGB) have also been revoked. Always ensure you are using the most current IFSC to prevent transaction failures.
What is an IFSC Code?
An IFSC (Indian Financial System Code) is an 11-character alpha-numeric code that uniquely identifies every bank branch in India. It is essential for online fund transfers.
The IFSC code is structured in a specific way:
- The first four characters represent the bank name. For PUNB0MBGB06, “PUNB” stands for Punjab National Bank, which is the sponsoring bank for Bihar Gramin Bank.
- The fifth character is always a zero (0). This character is reserved for future use and acts as a control digit.
- The last six characters identify the specific bank branch. In this case, “MBGB06” refers to the Basahi branch of Bihar Gramin Bank.
Each branch has its own unique IFSC, ensuring that your money is routed correctly to the intended recipient’s bank and branch.
How to Use an IFSC Code
Using the IFSC code is simple and is a mandatory step for various online financial transactions:
- For NEFT (National Electronic Funds Transfer):
- Log in to your internet banking or mobile banking app.
- Select the NEFT option for fund transfer.
- Add the beneficiary’s details: their account number, name, and the correct IFSC code (PUNB0MBGB06 for Basahi branch).
- Enter the amount you wish to transfer and confirm the transaction.
- For RTGS (Real Time Gross Settlement):
- Similar to NEFT, access your online banking platform.
- Choose the RTGS option, which is typically used for high-value transfers (usually 2 lakh rupees and above).
- Provide the beneficiary’s account number, name, and the IFSC code (PUNB0MBGB06).
- Enter the transfer amount and complete the process.
- For IMPS (Immediate Payment Service):
- IMPS allows for instant fund transfers 24/7.
- Using your mobile banking app, select the IMPS option.
- You will need the beneficiary’s account number and the IFSC code (PUNB0MBGB06), or sometimes their Mobile Money Identifier (MMID) and mobile number.
- Input the amount and authorize the payment.
Always double-check the IFSC code and other beneficiary details before confirming any transaction to avoid errors.
Benefits of Knowing the IFSC Code
Knowing the correct IFSC code for your bank branch, or for the recipient’s bank branch, offers several benefits:
- Accurate Fund Transfers: Ensures your money is sent to the precise bank and branch, minimizing the risk of funds being misdirected.
- Faster Transactions: With the correct IFSC, electronic transfers like NEFT, RTGS, and IMPS are processed smoothly and efficiently.
- Security: The unique identification helps prevent fraudulent activities by ensuring transfers only go to verified banking channels.
- Convenience: Facilitates easy online banking, allowing you to manage transfers from anywhere at any time without needing to visit the bank physically.
- Mandatory for Online Banking: It’s a required piece of information for all major digital payment systems in India.
Contact Information
For any inquiries or assistance regarding the Bihar Gramin Bank Basahi branch, you can use the following contact details:
- Branch Phone Number: 9297955199
- Branch Address: Basahi, SARAN, 841311, Bihar
- Bihar Gramin Bank Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
- Toll-Free Number: 18001807777
Frequently Asked Questions (FAQs)
What happens if I use an incorrect IFSC code?
If you use an incorrect IFSC code, your transaction will likely fail. The banking system will not be able to identify the correct destination branch, and the funds will usually be returned to your account within a few hours or a day. However, it’s always best to verify the code beforehand to avoid delays.
Is the MICR code the same as the IFSC code?
No, the MICR (Magnetic Ink Character Recognition) code is different from the IFSC code. The MICR code is a 9-digit code used for processing cheques, primarily for clearing and processing paper-based financial instruments. The IFSC code is an 11-character code used for electronic fund transfers.
Can I find the IFSC code on my chequebook?
Yes, the IFSC code is typically printed on your chequebook, usually on the leaf next to the cheque number and account number. You can also find it on your bank passbook or by using your bank’s official website or mobile app.
Why did the IFSC code for my Bihar Gramin Bank branch change?
The IFSC code for Bihar Gramin Bank branches changed due to the merger of Dakshin Bihar Gramin Bank and Madhya Bihar Gramin Bank to form Bihar Gramin Bank. Such mergers often lead to the rationalization and unification of IFSC codes under the sponsoring bank, which in this case is Punjab National Bank.
Is it safe to share my IFSC code?
Yes, it is generally safe to share your IFSC code. It is publicly available information that simply helps identify your bank and branch for receiving funds. However, always be cautious about sharing your account number, PIN, or other sensitive details, especially with unverified sources.
Kritti Kumari is a banker and MBA graduate who writes about banking, finance, and customer-friendly services. She simplifies complex financial products into easy guides, helping readers understand Bihar Gramin Bank’s offerings and make smarter money decisions.