Bihar Gramin Bank Bhatta Bazar IFSC Code

Navigating bank transactions requires precise details, and for residents and businesses in Bhatta Bazar, Purnia, knowing the correct Indian Financial System Code (IFSC) for Bihar Gramin Bank is essential. This unique code acts like a digital address, crucial for seamless electronic fund transfers such as National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS), and Immediate Payment Service (IMPS). Without the right IFSC, your money cannot reach its intended recipient quickly or safely.

Branch Details

Bank Name	Bihar Gramin Bank
Branch Name	Bhatta Bazar
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	108146
Branch Address	Bhatta Bazar, PURNIA, 854301
Contact Number	9297954175
City	PURNIA
District	PURNIA
Reason	PURNEA
Pincode	854301
State	Bihar

Merger Update for Bihar Gramin Bank Branches

Many regional rural banks in Bihar have undergone significant changes, particularly regarding their IFSC codes. For branches that were part of Uttar Bihar Gramin Bank (UBGB) or Dakshin Bihar Gramin Bank (DBGB), these institutions have merged. They now operate under a consolidated structure, and their banking operations, including the IFSC codes, are standardized under Punjab National Bank.

Specifically, the IFSC code for these consolidated entities, including the Bhatta Bazar branch of Bihar Gramin Bank, is PUNB0MBGB06. It is important to note that any old IFSC codes previously used by UBGB or DBGB branches are now revoked and are no longer valid for transactions. To ensure your fund transfers are successful, always use the new, active IFSC code PUNB0MBGB06.

What is an IFSC Code?

An IFSC code is an 11-character alphanumeric code. It uniquely identifies each bank branch participating in the NEFT, RTGS, and IMPS networks across India. Think of it as a specific postal code for financial transactions.

• The first four characters represent the bank name. For PUNB0MBGB06, “PUNB” stands for Punjab National Bank, indicating the sponsoring bank for Bihar Gramin Bank.
• The fifth character is always a zero (0). This character is reserved for future use and helps maintain uniformity.
• The last six characters identify the specific bank branch. In our example, “MBGB06” identifies the particular branch within the Bihar Gramin Bank network under Punjab National Bank’s sponsorship.

How to Use the IFSC Code

Using the IFSC code correctly is crucial for various types of electronic fund transfers:

1. NEFT (National Electronic Funds Transfer): This system allows for batch-based transfers. When you initiate an NEFT transfer, you need to provide the recipient’s bank account number, bank name, and the specific IFSC code of their branch. The funds are usually credited within a few hours.
2. RTGS (Real Time Gross Settlement): RTGS is used for large-value transactions, typically above INR 2 lakhs. As the name suggests, transfers are processed individually and in real-time. Just like NEFT, you will need the recipient’s account number, bank name, and the correct IFSC code to complete an RTGS transaction.
3. IMPS (Immediate Payment Service): IMPS offers instant, 24/7 fund transfers, even on holidays. It’s often used for smaller, urgent payments. You will need the beneficiary’s account number and IFSC code (or mobile number and MMID in some cases) to send money via IMPS.

Always double-check the IFSC code, account number, and recipient’s name before confirming any transaction to avoid errors and ensure your money reaches the correct person.

Benefits of Knowing Your IFSC Code

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

• Faster Transfers: Ensures quick processing of electronic payments like NEFT, RTGS, and IMPS.
• Accuracy: Minimizes the chances of funds being sent to the wrong account, preventing financial loss and hassle.
• Convenience: Allows you to easily receive money from others, as they will need your branch’s IFSC code.
• Online Banking: Essential for setting up beneficiaries and initiating transfers through internet banking and mobile banking apps.
• Regulatory Compliance: Meets the mandatory requirements set by the Reserve Bank of India (RBI) for electronic fund transfers.

Contact Information

For any queries related to your Bihar Gramin Bank account or transactions at the Bhatta Bazar branch, you can use the following contact details:

• Branch Phone Number: 9297954175
• Branch Address: Bhatta Bazar, PURNIA, 854301, Purnia, 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 and Bihar Gramin Bank:

What if I use an old IFSC code for a merged bank?

If you use an old, revoked IFSC code, your transaction will likely fail. The bank’s system will not recognize the old code, and the transfer will be rejected. Always use the current and valid IFSC code, such as PUNB0MBGB06 for Bihar Gramin Bank (under Punjab National Bank).

Is the IFSC code different for different branches of Bihar Gramin Bank?

Yes, while the first few characters (e.g., PUNB0MBG) might be common for many branches under the same regional rural bank, the last six characters are unique to each specific branch. This ensures that money is directed to the exact branch where the recipient holds an account.

Can I find the IFSC code on my chequebook?

Yes, the IFSC code is typically printed on the cheque leaves of your chequebook. You can usually find it on the top left corner or near the bank name and address details.

What is the difference between IFSC and MICR codes?

The IFSC code is used for electronic fund transfers (NEFT, RTGS, IMPS) between banks. The MICR (Magnetic Ink Character Recognition) code is a 9-digit numerical code used primarily for processing physical cheques. It helps in faster and error-free processing of cheques.

How can I verify if an IFSC code is correct?

You can verify an IFSC code through various official channels. Most bank websites offer an IFSC lookup tool. You can also contact your bank’s customer service or refer to your passbook or chequebook where the code is printed. Additionally, the Reserve Bank of India (RBI) website provides a master list of all valid IFSC codes.