Bihar Gramin Bank Chakandra IFSC Code

If you’re looking to transfer funds to or from the Bihar Gramin Bank Chakandra branch in Sheikhpura, Bihar, understanding the IFSC code is essential. This unique code acts like a digital address, ensuring your money reaches the correct bank and branch without any issues. It’s a mandatory requirement for popular electronic fund transfer methods such as National Electronic Funds Transfer (NEFT), Real-Time Gross Settlement (RTGS), and Immediate Payment Service (IMPS).

Branch Details

Here are the key details for the Bihar Gramin Bank Chakandra branch:

Bank Name	Bihar Gramin Bank
Branch Name	Chakandra
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	3307
Branch Address	Chakandra, Sheikhpura, 811105, 8102918596
Contact Number	8102918596
City	Sheikhpura
District	Sheikhpura
Reason	NAWADA
Pincode	811105
State	Bihar

Merger Update for Bihar Gramin Bank

It’s important to note a significant change regarding Bihar Gramin Bank. Previously, there were two distinct regional rural banks in Bihar: Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB). These two banks have since merged to form a single entity, now known as Bihar Gramin Bank. All operations are now consolidated under this new name.

Because of this merger, all branches of the former UBGB and DBGB now use a unified IFSC code structure, which is managed by Punjab National Bank as the sponsor bank. For the Chakandra branch of Bihar Gramin Bank, the valid IFSC code is PUNB0MBGB06. Any old IFSC codes that belonged to Uttar Bihar Gramin Bank or Dakshin Bihar Gramin Bank branches are now revoked and will not work for transactions. Always use the new, consolidated IFSC code for all your fund transfers to ensure they are processed correctly.

What is an IFSC Code?

IFSC stands for Indian Financial System Code. It’s an 11-character alphanumeric code that uniquely identifies every bank branch in India participating in online fund transfers. Understanding its structure can help you verify its authenticity:

• The first four characters represent the bank name. For Bihar Gramin Bank, sponsored by Punjab National Bank, these are usually ‘PUNB’.
• The fifth character is always ‘0’ (zero). This is reserved for future use and helps distinguish the bank code from the branch code.
• The last six characters identify the specific branch. In the case of PUNB0MBGB06, ‘MBGB06’ identifies the Chakandra branch.

This systematic structure ensures that each branch has a unique identifier, making electronic transactions efficient and secure.

How to Use the IFSC Code

Using the IFSC code is straightforward once you initiate an online fund transfer. Here’s how it generally works for different methods:

• For NEFT (National Electronic Funds Transfer): When you want to send money via NEFT, you’ll need the beneficiary’s bank name, branch name, account number, and the correct IFSC code. The system uses the IFSC to route your payment to the specific branch.
• For RTGS (Real-Time Gross Settlement): Similar to NEFT, RTGS also requires the beneficiary’s bank name, branch, account number, and IFSC code. RTGS is used for high-value transactions and processes payments individually and continuously.
• For IMPS (Immediate Payment Service): IMPS allows instant fund transfers. You’ll typically need the beneficiary’s account number and IFSC code, or their mobile number and MMID (Mobile Money Identifier). The IFSC ensures the funds are credited to the correct bank branch immediately.

Always double-check the IFSC code before confirming a transaction to avoid delays or misdirected funds. Even a single incorrect character can cause a transaction to fail or go to the wrong account.

Benefits of Knowing the IFSC Code

Knowing the correct IFSC code for your bank or the beneficiary’s bank offers several key advantages:

• Facilitates Online Fund Transfers: It’s mandatory for NEFT, RTGS, and IMPS, enabling quick and secure electronic payments.
• Ensures Accuracy: The unique code ensures funds are transferred to the precise bank branch, reducing errors.
• Saves Time: Eliminates the need for physical visits to the bank for deposits or withdrawals, allowing transactions from anywhere.
• Enhances Security: The standardized system provides a secure framework for moving money between different banks.
• Simplifies Financial Operations: Useful for setting up recurring payments, direct debits, and managing various financial services online.

Contact Information

Should you need to contact the bank for any queries related to the Chakandra branch or general services:

• Branch Phone Number: 8102918596
• Branch Address: Chakandra, Sheikhpura, 811105, 8102918596
• Bihar Gramin Bank Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

Frequently Asked Questions (FAQs)

Q1: Is the IFSC code PUNB0MBGB06 valid for all Bihar Gramin Bank branches?
A1: No, PUNB0MBGB06 is specifically for the Chakandra branch. While all Bihar Gramin Bank branches share the first five characters (PUNB0), the last six characters are unique to each branch. Always verify the full 11-character code for the exact branch you need.

Q2: What happens if I use an old IFSC code from Uttar Bihar Gramin Bank or Dakshin Bihar Gramin Bank?
A2: If you use an old IFSC code from the former UBGB or DBGB, your transaction will likely fail. The old codes are no longer valid since the merger, and only the new IFSC codes under the Bihar Gramin Bank are recognized for electronic transfers.

Q3: Can I find the IFSC code on my bank passbook or chequebook?
A3: Yes, the IFSC code is usually printed on your bank passbook, chequebook, or bank statements. It’s often found on the top left or right corner of a cheque leaf. This is a reliable way to confirm the correct code.

Q4: Do I need the IFSC code for cash deposits at the branch?
A4: No, you do not need the IFSC code for cash deposits made directly at the bank branch counter. The IFSC code is specifically required for electronic fund transfers (NEFT, RTGS, IMPS) between different banks or branches.

Q5: What is the difference between an IFSC code and an MICR code?
A5: An IFSC code is an 11-character alphanumeric code used for online fund transfers to identify a bank branch. An MICR (Magnetic Ink Character Recognition) code is a 9-digit numerical code printed at the bottom of cheque leaves. It’s primarily used for clearing cheques and identifying the bank and branch. While both identify a branch, they serve different purposes.