Bihar Gramin Bank BUDHAULI IFSC Code

Welcome to BUDHAULI, a vibrant locality in the Nawada district of Bihar. When you need to send or receive money electronically, especially for transactions involving Bihar Gramin Bank in BUDHAULI, understanding the IFSC code is essential. This unique code acts like a digital address for bank branches, making sure your funds go to the right place. It’s crucial for popular transfer methods like NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), and IMPS (Immediate Payment Service).

Branch Details

Bank Name	Bihar Gramin Bank
Branch Name	BUDHAULI
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	7279
Branch Address	BUDHAULI, Nawada, 805124
Contact Number	9771464279
City	Nawada
District	Nawada
Reason	NAWADA
Pincode	805124
State	Bihar

Merger Update

The IFSC code PUNB0MBGB06 is specifically assigned to a branch of the Madhya Bihar Gramin Bank, which operates under the sponsorship of Punjab National Bank (PNB). It’s important to be aware of the ongoing consolidation among Regional Rural Banks (RRBs) in Bihar. Banks like Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB) have undergone mergers to streamline their operations. As a result, many old IFSC codes previously used by these banks have been revoked.

For current and future transactions, only the new, updated IFSC codes, such as PUNB0MBGB06 for Madhya Bihar Gramin Bank branches, are valid. Always double-check the latest IFSC code to ensure your financial transfers are successful and hassle-free.

What is an IFSC Code?

An IFSC (Indian Financial System Code) is an 11-character alphanumeric code. It uniquely identifies every bank branch in India participating in electronic funds transfers. Think of it as a unique address for a specific bank branch.

• The first four characters are alphabetic and represent the bank name. For example, in PUNB0MBGB06, “PUNB” stands for Punjab National Bank, the sponsoring bank for Madhya Bihar Gramin Bank.
• The fifth character is always a ‘0’ (zero). This character is reserved for future use and helps differentiate the bank code from the branch code.
• The last six characters are alphanumeric and identify the specific bank branch. In PUNB0MBGB06, “MBGB06” points to the BUDHAULI branch of Madhya Bihar Gramin Bank.

How to Use an IFSC Code

Using an IFSC code is straightforward when you’re making electronic fund transfers. Here’s how it typically works for NEFT, RTGS, and IMPS:

1. Gather Beneficiary Details: Before starting a transfer, you’ll need the recipient’s bank account number, their name, and the IFSC code of their bank branch.
2. Log In to Your Banking Portal: Access your net banking account or mobile banking app.
3. Select Transfer Type: Choose the type of transfer you want to make: NEFT, RTGS, or IMPS.
4. Add Beneficiary: If you haven’t transferred money to this person or entity before, you’ll need to add them as a new beneficiary. This involves entering their account number, name, and the correct IFSC code.
5. Verify Details: The system will usually automatically fetch the bank name and branch name once you enter the IFSC code. Always double-check these details to confirm they match the recipient’s information.
6. Enter Amount and Confirm: Input the amount you wish to transfer and confirm the transaction.

The IFSC code ensures that your money reaches the exact branch associated with the beneficiary’s account, preventing misdirection of funds.

Benefits of Knowing Your IFSC Code

Knowing the correct IFSC code offers several practical advantages:

• Ensures Accurate Transfers: It guarantees that funds are credited to the correct bank and branch, reducing errors.
• Facilitates Electronic Payments: Essential for smooth NEFT, RTGS, and IMPS transactions.
• Saves Time: Prevents delays and the need for manual corrections that can arise from incorrect banking details.
• Supports Online Transactions: Crucial for various online payments, bill settlements, and e-commerce transactions.
• Avoids Rejection: Transactions without a valid IFSC code will often be rejected by the banking system.

Contact Information

For specific inquiries about the BUDHAULI branch of Bihar Gramin Bank (Madhya Bihar Gramin Bank) or general banking services, you can use the following contact details:

• Branch Phone Number: 9771464279
• Branch Address: BUDHAULI, Nawada, 805124, Bihar
• Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

FAQs

Here are some common questions about IFSC codes and electronic fund transfers:

Q1: Is an IFSC code required for all types of bank transfers?
A1: Yes, an IFSC code is mandatory for electronic fund transfers like NEFT, RTGS, and IMPS. For cash deposits or withdrawals at the branch itself, it’s not needed, but it’s crucial for digital transactions to identify the specific recipient branch.

Q2: What happens if I use an incorrect IFSC code?
A2: If you use an incorrect IFSC code, the transaction will likely fail or be rejected by the banking system. Your funds might be debited from your account temporarily and then returned. Always verify the code carefully to avoid delays.

Q3: Can the IFSC code for a branch change?
A3: Yes, an IFSC code can change, especially due to bank mergers, branch relocations, or other administrative reasons. This is why it’s always wise to check for the most current IFSC code, particularly if a bank has recently undergone a merger or significant restructuring, as is the case with some Regional Rural Banks in Bihar.

Q4: How can I find the IFSC code for another bank branch?
A4: You can usually find the IFSC code on your bank’s website, your cheque book, or your bank passbook. Many online portals and mobile banking apps also offer a search function to find IFSC codes for any branch.

Q5: Is MICR code the same as IFSC code?
A5: No, MICR (Magnetic Ink Character Recognition) code is different from IFSC code. The MICR code is a 9-digit code used primarily for processing cheques and identifies the bank, city, and branch. The IFSC code, an 11-character code, is used for electronic fund transfers like NEFT, RTGS, and IMPS.