Bihar Gramin Bank Chakia IFSC Code

Welcome to Chakia, a vibrant town located in the East Champaran district of Bihar. In today’s digital age, managing your finances often involves electronic fund transfers. To send or receive money through systems like NEFT, RTGS, or IMPS, a unique code called the Indian Financial System Code (IFSC) is absolutely essential. This code helps identify your specific bank branch, ensuring your money reaches the correct destination quickly and securely.

Branch Details

Here are the key details for the Bihar Gramin Bank branch in Chakia:

Bank Name	Bihar Gramin Bank
Branch Name	Chakia
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	100195
Branch Address	Chakia, EAST CHAMPARAN, 845412
Contact Number	9297954618
City	EAST CHAMPARAN
District	EAST CHAMPARAN
Reason	MOTIHARI
Pincode	845412
State	Bihar

Merger Update

Regional Rural Banks (RRBs) often undergo mergers to streamline operations and enhance banking services. The IFSC code PUNB0MBGB06 is specific to Madhya Bihar Gramin Bank, which is sponsored by Punjab National Bank. This reflects a common practice where a large public sector bank acts as the sponsor for an RRB, providing support and oversight.

Historically, various regional rural banks in Bihar have also seen mergers. For instance, if a branch was previously part of Uttar Bihar Gramin Bank (UBGB) or Dakshin Bihar Gramin Bank (DBGB), it’s important to note that these banks experienced their own consolidation. For many such merged entities, particularly those sponsored by Punjab National Bank, a unified IFSC code structure was adopted. The code PUNB0MBGB06 exemplifies this standardization under Punjab National Bank’s sponsorship for Madhya Bihar Gramin Bank. It is critical to understand that any old IFSC codes, such as those previously used by UBGB, have been revoked and are no longer valid for transactions. Only the new, standardized IFSC code, like PUNB0MBGB06 for Madhya Bihar Gramin Bank, should be used for all fund transfers to ensure accuracy.

What is an IFSC Code?

An IFSC code is an 11-character alphanumeric code. It uniquely identifies every bank branch in India. This code is crucial for electronic money transfers.

Here’s how the 11 characters are structured:

• The first four characters represent the bank’s name. For example, in PUNB0MBGB06, “PUNB” stands for Punjab National Bank, the sponsoring bank.
• The fifth character is always “0” (zero). This is kept for future use.
• The last six characters identify the specific branch. In PUNB0MBGB06, “MBGB06” identifies the Madhya Bihar Gramin Bank (MBGB) and the specific branch code within it.

How to Use an IFSC Code

You will need the IFSC code when setting up a beneficiary for electronic fund transfers. Here’s a general guide for NEFT, RTGS, and IMPS:

1. Log in to Net Banking or Mobile Banking: Access your bank’s online platform or mobile app.
2. Select Funds Transfer: Choose the option for NEFT, RTGS, or IMPS.
3. Add Beneficiary: If you’re sending money to someone for the first time, you’ll need to add them as a beneficiary.
4. Enter Beneficiary Details: Provide the beneficiary’s name, bank account number, and the correct IFSC code (e.g., PUNB0MBGB06 for the Chakia branch).
5. Verify Details: Double-check all entered information, especially the account number and IFSC code, to avoid sending money to the wrong person.
6. Enter Amount and Confirm: Specify the amount you wish to transfer and confirm the transaction.

For NEFT, funds are transferred in batches throughout the day. RTGS is for larger amounts and processed in real-time. IMPS offers instant transfers 24/7 for smaller amounts.

Benefits of Knowing Your IFSC Code

Knowing the correct IFSC code for your bank branch, or the branch you are sending money to, offers several advantages:

• Error Prevention: It ensures your funds are transferred to the exact intended branch, reducing the risk of errors or delays.
• Faster Transfers: Essential for quick electronic transactions like NEFT, RTGS, and IMPS.
• Account Reconciliation: Helps banks correctly process and reconcile incoming and outgoing payments.
• Secure Transactions: Adds an extra layer of verification, making your financial transactions more secure.
• Online Banking Convenience: Required for setting up new beneficiaries and performing most online fund transfers.

Contact Information

For inquiries related to the Bihar Gramin Bank Chakia branch, you can use the following contact details:

• Branch Phone Number: 9297954618
• Branch Address: Chakia, EAST CHAMPARAN, 845412, Bihar
• Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

FAQs

What is the full form of IFSC?

IFSC stands for Indian Financial System Code.

Is the IFSC code unique for every bank branch?

Yes, each bank branch in India has a unique 11-character IFSC code. No two branches will share the same code.

Can I use an old or incorrect IFSC code for a transfer?

No, using an old or incorrect IFSC code will lead to the transaction being rejected or delayed. Always use the most current and accurate IFSC code for the specific branch.

Where can I find the IFSC code for my bank branch?

You can find the IFSC code on your bank’s cheque book, passbook, or by visiting your bank’s official website. Online tools and banking apps also provide this information.

What is the difference between IFSC and MICR code?

The IFSC code is an 11-character code used for electronic fund transfers (NEFT, RTGS, IMPS) to identify a specific bank branch. The MICR (Magnetic Ink Character Recognition) code is a 9-digit numerical code printed on cheque leaves. It is primarily used for processing cheques and for clearing purposes.