Bihar Gramin Bank Chakramdas IFSC Code

The Chakramdas branch of Bihar Gramin Bank is located in the Vaishali district of Bihar, a region known for its rich historical and cultural significance. For anyone needing to conduct financial transactions involving this branch, understanding the Indian Financial System Code (IFSC) is crucial. This unique alphanumeric code is essential for all electronic fund transfers, including NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), and IMPS (Immediate Payment Service). It ensures that your money reaches the correct bank and specific branch without error, making online banking both secure and efficient.

Bihar Gramin Bank Chakramdas Branch Details

Here are the detailed specifics for the Bihar Gramin Bank branch located in Chakramdas:

Bank Name	Bihar Gramin Bank
Branch Name	Chakramdas
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	108129
Branch Address	Chakramdas, VAISHALI, 844128, 9297955046
Contact Number	9297955046
City	VAISHALI
District	VAISHALI
Reason	HAJIPUR
Pincode	844128
State	Bihar

Merger Update for Regional Rural Banks in Bihar

Historically, various regional rural banks in Bihar have undergone significant restructuring and mergers to streamline operations and enhance banking services. For instance, if this branch was previously associated with Uttar Bihar Gramin Bank (UBGB) or Dakshin Bihar Gramin Bank (DBGB), it is important to know about their merger process.

Following a consolidation of regional rural banks, many now operate under a unified structure. The provided IFSC code, PUNB0MBGB06, indicates an affiliation with Madhya Bihar Gramin Bank, which is sponsored by Punjab National Bank. For transactions involving branches that were part of the UBGB or DBGB networks, these entities have merged and now also use this unified IFSC code, PUNB0MBGB06, under the umbrella of Punjab National Bank as the sponsoring bank.

This means that any old IFSC codes previously used by UBGB or DBGB branches are now revoked and are no longer valid for electronic fund transfers. All financial transactions must now use the new and valid IFSC code: PUNB0MBGB06.

What is an IFSC Code?

The IFSC Code, or Indian Financial System Code, is a unique 11-character alphanumeric code. The Reserve Bank of India (RBI) assigns these codes to identify every bank branch in India participating in electronic fund transfers. This helps ensure that money sent via NEFT, RTGS, or IMPS reaches the intended recipient branch correctly.

The structure of the IFSC code is straightforward:

• 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 a zero (0). This character is reserved for future use.
• The last six characters identify the specific branch. In PUNB0MBGB06, “MBGB06” uniquely identifies the Chakramdas branch under the Madhya Bihar Gramin Bank network.

How to Use the IFSC Code for Fund Transfers

Using the IFSC code is a key part of making secure and quick electronic fund transfers. Here’s how you generally use it for different types of transactions:

• For NEFT (National Electronic Funds Transfer): When you want to send money using NEFT, you need to provide the beneficiary’s name, their bank account number, the bank’s name, and the correct IFSC code for their specific branch. NEFT transactions are processed in batches throughout the day.
• For RTGS (Real Time Gross Settlement): RTGS is for large value transactions, typically Rs. 2 lakh and above. Like NEFT, you will need the beneficiary’s account details, including their bank name, account number, and the IFSC code. RTGS transactions are processed individually and in real-time.
• For IMPS (Immediate Payment Service): IMPS allows for instant, 24/7 fund transfers, even on holidays. To use IMPS, you’ll generally need the beneficiary’s mobile number and MMID (Mobile Money Identifier) or their account number and IFSC code.

Always double-check the IFSC code and other beneficiary details before confirming any transaction to avoid delays or incorrect transfers.

Benefits of Knowing Your IFSC Code

Knowing the correct IFSC code for your bank branch, or for any branch you need to transfer funds to, offers several important benefits:

• Accurate Fund Transfers: Ensures your money is sent to the precise bank branch, minimizing errors.
• Faster Processing: Correct IFSC codes help electronic systems quickly route funds, speeding up transfer times.
• Enhanced Security: Reduces the risk of fraud by providing a specific identifier for the destination branch.
• Convenience for Online Banking: Essential for using internet banking and mobile banking apps for NEFT, RTGS, and IMPS.
• Compliance: It’s a mandatory requirement by the Reserve Bank of India (RBI) for all inter-bank electronic transactions.

Contact Information

For inquiries or assistance related to the Chakramdas branch of Bihar Gramin Bank:

• Branch Phone Number: 9297955046
• Branch Address: Chakramdas, VAISHALI, 844128

For general inquiries or to contact the head office:

• Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

Frequently Asked Questions (FAQs)

Q1: What does PUNB0MBGB06 specifically stand for?

A1: In PUNB0MBGB06, “PUNB” represents Punjab National Bank, the sponsoring bank. The “0” is a control character. “MBGB” indicates Madhya Bihar Gramin Bank, and “06” is the unique branch code for the Chakramdas branch.

Q2: Can I use an old IFSC code if I previously dealt with Uttar Bihar Gramin Bank (UBGB) or Dakshin Bihar Gramin Bank (DBGB)?

A2: No, you cannot. Following the merger, any old IFSC codes from UBGB or DBGB are no longer valid. You must use the new and unified IFSC code, PUNB0MBGB06, for all electronic transactions to the Chakramdas branch.

Q3: Is the IFSC code different for NEFT, RTGS, and IMPS transactions?

A3: No, the IFSC code for a specific bank branch remains the same regardless of the type of electronic fund transfer (NEFT, RTGS, or IMPS) you are performing. The purpose of the IFSC code is to identify the branch itself.

Q4: What should I do if my bank asks for a ‘Reason’ during a transaction, like ‘HAJIPUR’ mentioned in the branch details?

A4: The ‘Reason’ field (like HAJIPUR) provided in some bank details often refers to a geographical or administrative sub-division relevant to the branch’s location or operational area. While not always directly required for the IFSC-based transfers themselves, it can be useful for additional verification or contextual understanding, especially if you are physically looking for the branch or dealing with specific regional banking services. In most online transactions, the IFSC, account number, and beneficiary name are primary.

Q5: Is it safe to share my bank’s IFSC code?

A5: Yes, it is generally safe to share your bank’s IFSC code. It is a publicly available code designed to facilitate electronic transfers to your account. Unlike your account number or ATM PIN, the IFSC code alone cannot be used to access your funds or compromise your account security.