Bihar Gramin Bank Chand Chaur IFSC Code

This article discusses the Bihar Gramin Bank branch located in Chand Chaur, Samastipur, Bihar. Understanding the bank’s Indian Financial System Code, or IFSC, is crucial for anyone looking to send or receive money online. This unique code ensures that funds transferred through systems like NEFT, RTGS, and IMPS reach the correct bank and branch without error, making online banking safe and efficient.

Branch Details

Bank Name	Bihar Gramin Bank
Branch Name	Chand Chaur
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	3971
Branch Address	Chand Chaur, Samastipur, 848114
Contact Number	9955997890
City	Samastipur
District	Samastipur
Pincode	848114
State	Bihar

Merger Update

The Bihar Gramin Bank, under which the Chand Chaur branch operates, is the result of significant mergers involving regional rural banks in Bihar. Specifically, the Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB) previously merged to form Madhya Bihar Gramin Bank (MBGB).

This combined entity, sponsored by Punjab National Bank, now uses a unified IFSC structure. For the Chand Chaur branch, and indeed for all branches under this merged structure, the single valid IFSC code is PUNB0MBGB06. It is important to note that any old IFSC codes previously associated with Uttar Bihar Gramin Bank or Dakshin Bihar Gramin Bank branches are now revoked and will not work for transactions. Always use the current and unified IFSC code PUNB0MBGB06 for all your financial transfers to ensure they are processed correctly.

What is IFSC Code?

The IFSC, or Indian Financial System Code, is an 11-character code used to identify bank branches involved in online money transfers. It is a unique identifier for each bank branch in India.

The structure of the IFSC code is straightforward:

• The first four characters represent the bank’s name. For example, “PUNB” in PUNB0MBGB06 stands for Punjab National Bank, which is the sponsoring bank for Bihar Gramin Bank.
• The fifth character is always a “0” (zero). This is kept as a control character for future use.
• The last six characters uniquely identify the specific branch. For instance, “MBGB06” identifies the Chand Chaur branch within the Bihar Gramin Bank network.

This standardized format helps in accurately routing funds to the intended recipient’s bank and branch across the country.

How to Use IFSC Code

Using the IFSC code is a fundamental step for performing various types of online fund transfers. Here’s how it works for the most common methods:

• NEFT (National Electronic Funds Transfer): This system allows for batch-wise transfers of funds. When you want to send money via NEFT, you will need to add the beneficiary’s details, including their name, account number, and the correct IFSC code for their bank branch. The funds are then processed in batches throughout the day.
• RTGS (Real Time Gross Settlement): RTGS is designed for large-value transactions, with funds settled individually and immediately in real-time. Similar to NEFT, you must provide the beneficiary’s account number and the correct IFSC code to ensure the transfer is routed instantly to the right branch.
• IMPS (Immediate Payment Service): IMPS offers instant, 24/7 fund transfers, even on holidays. For IMPS, you will enter the beneficiary’s account number and IFSC code (or mobile number and MMID). The IFSC code ensures the funds are credited to the specific branch within seconds.

In all these cases, you will typically log into your internet banking portal or mobile banking app, navigate to the “Fund Transfer” section, add a new beneficiary (if not already added), fill in their account details, and then enter the Chand Chaur branch’s IFSC code: PUNB0MBGB06.

Benefits of Knowing Your IFSC Code

Knowing and using the correct IFSC code offers several advantages for bank account holders:

• Accurate Fund Transfers: It ensures that your money reaches the precise bank branch of the recipient, preventing misdirected transfers.
• Faster Transactions: Correct IFSC codes facilitate quick processing of online fund transfers through NEFT, RTGS, and IMPS.
• Enhanced Security: The unique identification helps in securing digital transactions by ensuring funds are directed to verified financial institutions and branches.
• Mandatory for Online Banking: The IFSC code is a compulsory requirement for almost all types of electronic fund transfers, making it essential for modern banking.
• Convenience: It simplifies the process of sending and receiving money across different banks and geographical locations within India.

Contact Information

For inquiries related to the Chand Chaur branch of Bihar Gramin Bank or for general banking assistance, you can use the following contact details:

• Chand Chaur Branch Phone Number: 9955997890
• Chand Chaur Branch Address: Chand Chaur, Samastipur, 848114, Bihar
• Bihar Gramin Bank Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number for Bihar Gramin Bank: 18001807777

FAQs

Here are some frequently asked questions about IFSC codes and the Bihar Gramin Bank:

Q1: What is the full form of IFSC?
A: IFSC stands for Indian Financial System Code. It is an 11-character alphanumeric code that uniquely identifies each bank branch participating in online funds transfers.

Q2: Is the IFSC code the same for all branches of Bihar Gramin Bank?
A: No, the IFSC code is unique for each individual branch. While the first four characters (e.g., PUNB) will be the same for all branches sponsored by Punjab National Bank under the Bihar Gramin Bank, the last six characters (the branch identifier) will be different for each specific branch.

Q3: What happens if I use an old or incorrect IFSC code for a transaction?
A: If you use an old or incorrect IFSC code, your transaction will likely fail. The banking system relies on the correct IFSC code to route funds, and an incorrect code will prevent the transfer from being completed, causing delays and potential inconvenience.

Q4: Can I find the IFSC code on my bank passbook or chequebook?
A: Yes, the IFSC code is typically printed on the first page of your bank passbook and on individual cheque leaves. It is a standard practice for banks to display this essential information for customer convenience.

Q5: How is the IFSC code different from the MICR code?
A: Both are important bank codes but serve different purposes. The IFSC code (Indian Financial System Code) is used for electronic fund transfers like NEFT, RTGS, and IMPS. The MICR code (Magnetic Ink Character Recognition Code) is a 9-digit numerical code found at the bottom of cheque leaves. It is used for clearing cheques and other paper-based transactions.