Bihar Gramin Bank Chandpura IFSC Code

Welcome to information regarding the Bihar Gramin Bank branch located in Chandpura, Vaishali, Bihar. Understanding the Indian Financial System Code (IFSC) is crucial for anyone needing to transfer funds digitally. This unique code enables smooth and secure electronic money transfers through services like NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), and IMPS (Immediate Payment Service). It ensures your money reaches the correct bank and branch without delays.

Branch Details Table

Bank Name	Bihar Gramin Bank
Branch Name	Chandpura
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	100068
Branch Address	Chandpura, VAISHALI, 844502, 9297955057
Contact Number	9297955057
City	VAISHALI
District	VAISHALI
Reason	HAJIPUR
Pincode	844502
State	Bihar

Merger Update

Over time, many Regional Rural Banks (RRBs) in India have merged or undergone restructuring to streamline operations and enhance banking services. The Chandpura branch, initially part of Bihar Gramin Bank, now operates under the larger umbrella of Madhya Bihar Gramin Bank. This bank is sponsored by Punjab National Bank.

Therefore, for all financial transactions related to the Chandpura branch, the correct and currently valid IFSC code to use is PUNB0MBGB06. It is very important to note that any older IFSC codes previously associated with Bihar Gramin Bank for this specific branch are no longer valid. For successful and secure money transfers, you must use only the new and current IFSC code, PUNB0MBGB06. Using an outdated code will cause your transaction to fail.

What is an IFSC Code?

An IFSC code, or Indian Financial System Code, is an 11-character alphanumeric code. It uniquely identifies every bank branch participating in online money transfers in India. Think of it as a specific address for a bank branch in the digital world.

The code is structured in a particular way:

• The first four characters represent the bank’s name. For example, ‘PUNB’ stands for Punjab National Bank, the sponsor bank in this case.
• The fifth character is always ‘0’ (zero). This character is reserved for future use, possibly for internal bank operations.
• The last six characters uniquely identify the specific branch. In the code PUNB0MBGB06, ‘MBGB06’ points to the Chandpura branch under Madhya Bihar Gramin Bank. These last six characters change from one branch to another, even within the same bank.

This precise structure helps ensure that funds are directed to the exact intended recipient bank and branch.

How to Use an IFSC Code

Using an IFSC code is straightforward when you’re making an online money transfer. Here’s how it generally works for NEFT, RTGS, and IMPS transactions:

1. Log In to Net Banking or Mobile Banking: Access your bank’s online platform using your credentials.
2. Select Fund Transfer Option: Look for options like “Fund Transfer,” “NEFT,” “RTGS,” or “IMPS.”
3. Add Beneficiary (if new): If you are sending money to this account for the first time, you will need to add them as a beneficiary. This involves entering their account holder name, account number, account type (savings or current), and the IFSC code (PUNB0MBGB06 for Chandpura branch).
4. Enter Transaction Details: Once the beneficiary is added (or selected from your existing list), you will input the amount you wish to send.
5. Confirm and Authorize: Review all the details carefully – the beneficiary’s name, account number, IFSC code, and the amount. Then, confirm the transaction, usually by entering an OTP (One Time Password) or transaction PIN.

The system uses the IFSC code to correctly route your payment to the Chandpura branch of Madhya Bihar Gramin Bank.

Benefits of Knowing Your IFSC Code

Knowing the correct IFSC code for your bank branch, or for the recipient’s branch, offers several important benefits:

• Accurate Fund Transfers: The primary benefit is ensuring your money reaches the right destination without error. The unique code prevents funds from going to the wrong bank or branch.
• Faster Transactions: With the correct IFSC, online transactions like NEFT, RTGS, and IMPS are processed quickly and efficiently.
• Enhanced Security: The detailed nature of the code adds a layer of security, as it precisely identifies the receiving branch, reducing chances of fraud or misdirection.
• Convenience: You can conduct banking operations from anywhere, anytime, without needing to visit the physical bank branch.
• Compliance: For businesses and individuals, using the correct IFSC code is essential for compliant and traceable financial records.

Contact Section

If you need to get in touch with the Chandpura branch or the bank’s main office, here are the contact details:

• Chandpura Branch Phone Number: 9297955057
• Chandpura Branch Address: Chandpura, VAISHALI, 844502, Bihar
• Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

FAQs

Q1: What happens if I use an old or incorrect IFSC code for a transfer?
A: If you use an old or incorrect IFSC code, your transaction will likely fail. The banking system uses this code to identify the exact branch. An invalid code means the system cannot route your funds correctly, and the money will not be transferred. You will usually receive a notification about the failed transaction.

Q2: Is the IFSC code the same for all branches of Madhya Bihar Gramin Bank?
A: No, the IFSC code is not the same for all branches. While the first four characters (bank code) and the fifth character (always ‘0’) will be the same for all branches of Madhya Bihar Gramin Bank (PUNB0MBGB), the last six characters are unique to each specific branch. For example, Chandpura branch uses ‘MBGB06’, but another branch will have a different six-character suffix.

Q3: Can I find the IFSC code on my bank passbook or chequebook?
A: Yes, the IFSC code is typically printed on your bank passbook. You can usually find it on the first page, along with your account number and other branch details. It is also printed on cheque leaves of your chequebook.

Q4: What is the main difference between NEFT, RTGS, and IMPS?
A: These are three methods for electronic fund transfers:

• NEFT (National Electronic Funds Transfer): Processes transactions in batches, usually hourly. It’s suitable for non-urgent transfers.
• RTGS (Real Time Gross Settlement): Processes transactions individually and immediately, in “real-time.” It’s generally used for high-value transfers (minimum 2 lakh rupees).
• IMPS (Immediate Payment Service): Offers instant, 24/7 fund transfers, even on holidays. It’s available through mobile banking, internet banking, and ATMs, and is suitable for smaller, urgent transfers.

All three require an IFSC code to direct funds to the correct branch.

Q5: Why is the fifth character in the IFSC code always ‘0’?
A: The fifth character in the IFSC code is a ‘0’ (zero). This character is reserved by the Reserve Bank of India (RBI) for future use. It acts as a control digit and allows for expansion or changes to the IFSC structure if needed in the future, without disrupting existing codes.