Bihar Gramin Bank CHAKAND IFSC Code

The CHAKAND branch of Bihar Gramin Bank is an important financial hub for the local community in Gaya, Bihar. When you need to send or receive money electronically, whether through NEFT, RTGS, or IMPS, a specific code is essential: the Indian Financial System Code, or IFSC. This unique code ensures your funds reach the correct bank and branch without error.

Branch Details

Bank Name	Bihar Gramin Bank
Branch Name	CHAKAND
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	7224
Branch Address	CHAKAND, Gaya, 805131, 9771464224
Contact Number	9771464224
City	Gaya
District	Gaya
Reason	GAYA
Pincode	805131
State	Bihar

Merger Update

Bihar Gramin Bank was formed from the merger of Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB). Both banks are now unified under the single identity of Bihar Gramin Bank, which is sponsored by Punjab National Bank. As a result of this merger, all branches of Bihar Gramin Bank now use a single, standardized IFSC code series that reflects its sponsor bank, Punjab National Bank.

The IFSC code PUNB0MBGB06 is part of this new system. This means any older IFSC codes previously associated with UBGB or DBGB are no longer valid for transactions. Always use the current code, such as PUNB0MBGB06 for the CHAKAND branch, for all electronic fund transfers to or from this branch.

What is an IFSC Code?

The Indian Financial System Code (IFSC) is a unique 11-character alphanumeric code. It’s used to identify every bank branch participating in online fund transfers within India. Think of it as a digital address for a specific bank branch.

The structure of an IFSC code is standard:

• The first four characters identify the bank. For PUNB0MBGB06, “PUNB” stands for Punjab National Bank, the sponsor bank of Bihar Gramin Bank.
• The fifth character is always a zero (0). This character is reserved for future use.
• The last six characters identify the specific branch. In this case, “MBGB06” identifies a particular branch of Bihar Gramin Bank.

How to Use an IFSC Code

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

1. Gather Recipient Details: You will need the recipient’s name, their bank account number, their bank name, and the specific IFSC code of their branch.
2. Access Your Banking Platform: Log in to your net banking portal or mobile banking app.
3. Select Transfer Type: Choose the type of transfer you want to make – NEFT (National Electronic Funds Transfer), RTGS (Real-Time Gross Settlement), or IMPS (Immediate Payment Service). NEFT is suitable for transfers that don’t need to be instant, RTGS is for large, real-time transfers, and IMPS allows instant transfers any time.
4. Enter Details: Fill in all the required information, including the recipient’s account number and the IFSC code (PUNB0MBGB06 for the CHAKAND branch). The system will usually automatically fetch the bank and branch name once you enter a valid IFSC.
5. Confirm and Transact: Review all the details carefully before confirming the transaction. This ensures the money goes to the right person.

For example, if you are sending money to an account at Bihar Gramin Bank, CHAKAND branch, you would input PUNB0MBGB06 into the IFSC field.

Benefits of Knowing the IFSC Code

Knowing the correct IFSC code for your bank branch, or for someone you’re sending money to, offers several key advantages:

• Accurate Fund Transfers: It guarantees that your money reaches the intended recipient’s bank account and branch without errors.
• Faster Processing: Correct IFSC codes help banks process transactions more efficiently, reducing delays.
• Security: It adds an extra layer of verification, ensuring that funds are transferred securely within the banking system.
• Mandatory for Electronic Transactions: IFSC is a compulsory requirement for all online transfers like NEFT, RTGS, and IMPS.
• Easy Identification: It uniquely identifies each bank branch, simplifying the complex network of banks across India.

Contact Information

If you need to get in touch with Bihar Gramin Bank, CHAKAND branch, or the head office, here are the details:

• CHAKAND Branch Phone Number: 9771464224
• CHAKAND Branch Address: CHAKAND, Gaya, 805131, Bihar
• Bihar Gramin Bank Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number (Bihar Gramin Bank): 18001807777

Frequently Asked Questions (FAQs)

Q1: What is the IFSC code for Bihar Gramin Bank CHAKAND branch?

A1: The IFSC code for the Bihar Gramin Bank CHAKAND branch is PUNB0MBGB06.

Q2: Is the IFSC code the same for all Bihar Gramin Bank branches?

A2: No, while the first few characters (PUNB0) are common as they identify the sponsor bank and the general type of bank, the last six characters are unique to each specific branch. So, each branch has its own distinct IFSC code.

Q3: Can I use an old IFSC code from Uttar Bihar Gramin Bank (UBGB) or Dakshin Bihar Gramin Bank (DBGB)?

A3: No, after the merger that formed Bihar Gramin Bank, all old IFSC codes from UBGB and DBGB have been revoked. You must use the new, standardized IFSC codes, like PUNB0MBGB06 for the CHAKAND branch, for all electronic transactions.

Q4: What is the MICR code for Bihar Gramin Bank CHAKAND?

A4: The MICR (Magnetic Ink Character Recognition) code for Bihar Gramin Bank CHAKAND branch is 800811002. This code is primarily used for processing physical cheques.

Q5: What is the difference between an IFSC code and a MICR code?

A5: An IFSC code is used for online electronic fund transfers (NEFT, RTGS, IMPS) to identify a specific bank branch. A MICR code is an nine-digit numeric code primarily used for clearing physical cheques and is usually found at the bottom of a cheque leaf.