The Bounsi branch of Bihar Gramin Bank is located in the Banka district of Bihar. For anyone looking to send or receive money through this branch, understanding its Indian Financial System Code (IFSC) is crucial. This unique 11-character code is essential for all online fund transfers in India, including National Electronic Funds Transfer (NEFT), Real-Time Gross Settlement (RTGS), and Immediate Payment Service (IMPS). The IFSC code ensures that your money is routed correctly and securely to the intended bank branch, preventing errors and delays.
Branch Details
| Bank Name | Bihar Gramin Bank |
| Branch Name | Bounsi |
| IFSC Code | PUNB0MBGB06 |
| MICR Code | 800811002 |
| Branch Code | MBGB06 |
| Branch Address | Bounsi, Banka, 813104, Bihar |
| Contact Number | 8102918762 |
| City | Banka |
| District | Banka |
| Region | BHAGALPUR |
| Pincode | 813104 |
| State | Bihar |
Merger and IFSC Update
Bihar Gramin Bank was formed through the merger of two regional rural banks: Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB). Following this amalgamation, the bank is now sponsored by Punjab National Bank (PNB). As a result of this change, all old IFSC codes belonging to the former UBGB and DBGB branches are now invalid and have been discontinued.
For all transactions, customers must use the new IFSC codes. The code for the Bounsi branch is PUNB0MBGB06. Using an old or incorrect code will cause your transaction to fail. It is important to update your beneficiary details with this new code to ensure smooth and successful fund transfers.
What is an IFSC Code?
The Indian Financial System Code (IFSC) is an 11-character alphanumeric code assigned by the Reserve Bank of India (RBI) to identify every bank branch participating in the country’s electronic payment system. The code has a specific structure that helps route transactions correctly.
Let’s break down the IFSC code for the Bounsi branch, PUNB0MBGB06:
- PUNB: The first four letters represent the name of the bank. In this case, ‘PUNB’ stands for Punjab National Bank, the sponsor bank for Bihar Gramin Bank.
- 0: The fifth character is always a zero. It is reserved for future use.
- MBGB06: The last six characters identify the specific branch. This part, ‘MBGB06’, points directly to the Bounsi branch.
How to Use the IFSC Code for Fund Transfers
Using the IFSC code for online banking is straightforward. Whether you are using a mobile app or a web portal, the process is generally the same for NEFT, RTGS, and IMPS transactions.
Step 1: Add a Beneficiary
Before you can send money, you need to add the recipient as a beneficiary or payee in your bank account. You will be asked to provide the following details:
- Beneficiary’s Name (as per their bank account)
- Beneficiary’s Account Number
- Beneficiary’s Bank Name
- Beneficiary’s Branch Name
- The IFSC Code of the beneficiary’s branch (PUNB0MBGB06 for Bounsi branch)
Step 2: Initiate the Transfer
Once the beneficiary is added, select them from your list, enter the amount you wish to transfer, and choose the transfer method (NEFT, RTGS, or IMPS). After you confirm the transaction, the funds will be sent to the recipient’s account, with the IFSC code directing it to the correct branch.
Benefits of Using the Correct IFSC Code
- Ensures Accuracy: The primary benefit is that it routes your funds to the exact bank branch, eliminating the risk of the money going to the wrong place.
- Prevents Delays: A correct IFSC code speeds up the transaction process. An incorrect code will result in a failed transaction, and the funds will be reversed, which can take several business days.
- Enables Different Transfer Types: IFSC codes are mandatory for all major online transfer methods like NEFT (for regular transfers), RTGS (for high-value transfers over ₹2 lakh), and IMPS (for instant, 24/7 transfers).
- Secure Transactions: By uniquely identifying each branch, the IFSC system adds a layer of security to the electronic payment network.
Contact Information
For any direct queries or assistance, you can reach out to the branch or the head office.
Branch Contact
- Phone Number: 8102918762
- Address: Bounsi, Banka, 813104, Bihar
Head Office Contact
- Toll-Free Number: 18001807777
- Address: Shri Vishnu Commercial Complex, Asochak, Patna-800030, Bihar
Frequently Asked Questions
1. Can I still use my old Dakshin Bihar Gramin Bank (DBGB) IFSC code?
No. All old IFSC codes associated with DBGB and UBGB are now invalid. You must use the new IFSC code, PUNB0MBGB06, for the Bounsi branch to complete any transaction.
2. Why does the Bihar Gramin Bank IFSC code start with ‘PUNB’?
The code starts with ‘PUNB’ because Punjab National Bank (PNB) is the sponsor bank for Bihar Gramin Bank. The IFSC codes for regional rural banks are often mapped under their sponsor bank’s identifier.
3. What happens if I accidentally enter the wrong IFSC code?
If the IFSC code you enter does not exist, the transaction will be rejected, and the money will be credited back to your account within a few hours or days. However, if the code corresponds to another valid branch, the funds could be sent there, causing significant complications. Always double-check the code before confirming a transaction.
4. Is the IFSC code the same as the MICR code?
No, they are different. The IFSC code is used for online fund transfers, while the Magnetic Ink Character Recognition (MICR) code is a 9-digit code used primarily for processing cheques.
5. Do I need an IFSC code for UPI payments?
No. UPI transactions operate using a Virtual Payment Address (VPA), such as yourname@okbank. You do not need to enter an account number or IFSC code for standard UPI payments.
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.