Bihar Gramin Bank CHORMA IFSC Code

This article provides details for the Bihar Gramin Bank branch located in CHORMA, Nawada. Understanding the Indian Financial System Code (IFSC) for this branch is crucial for anyone looking to send or receive money electronically. The IFSC code acts as a unique identifier for bank branches, ensuring that funds transferred through systems like NEFT (National Electronic Funds Transfer), RTGS (Real-Time Gross Settlement), and IMPS (Immediate Payment Service) reach the correct destination quickly and securely. Without the correct IFSC, electronic fund transfers cannot be processed.

Branch Details Table

Here are the specific details for the Bihar Gramin Bank CHORMA branch:

Bank Name	Bihar Gramin Bank
Branch Name	CHORMA
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	6928
Branch Address	CHORMA, Nawada, 805109, 7091596928
Contact Number	7091596928
City	Nawada
District	Nawada
Reason	NAWADA
Pincode	805109
State	Bihar

Merger Update

While this branch is identified as Bihar Gramin Bank CHORMA, its IFSC code, PUNB0MBGB06, reflects a significant consolidation among Regional Rural Banks (RRBs) in Bihar. Specifically, the “MBGB” in the code refers to Madhya Bihar Gramin Bank, which is sponsored by Punjab National Bank (PNB). This means that various regional rural banks in Bihar, including entities like Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB), have undergone mergers and now operate under a unified structure with Punjab National Bank as the sponsor.

For this specific branch, the IFSC code PUNB0MBGB06 is the only valid code for electronic transactions. Any older IFSC codes previously associated with regional rural banks in Bihar for this location have been revoked. Always use the current code, PUNB0MBGB06, to ensure your transactions are processed correctly.

What is IFSC Code?

The IFSC (Indian Financial System Code) is an eleven-character code. It is used to identify all bank branches that participate in online money transfers. This unique code helps to direct your funds to the right bank and specific branch.

The structure of the IFSC code is straightforward:

• The first four characters represent the bank name. For example, “PUNB” stands for Punjab National Bank, which is the sponsor bank for this Gramin Bank.
• The fifth character is always a zero (0). This character is reserved for future use and acts as a control digit.
• The last six characters uniquely identify the specific bank branch. In the case of PUNB0MBGB06, “MBGB06” pinpoints the CHORMA branch within the Madhya Bihar Gramin Bank network under PNB.

How to Use IFSC Code

Using the IFSC code is simple and essential for various electronic fund transfer methods. Here’s how it works for common services:

• NEFT (National Electronic Funds Transfer): This system processes transfers in batches. To send money via NEFT, you need the beneficiary’s name, account number, account type, and the correct IFSC code. The funds are usually credited within a few hours during banking hours.
• RTGS (Real-Time Gross Settlement): RTGS is designed for large-value transactions, typically INR 2 lakhs and above. Transfers are processed individually and in real-time. Similar to NEFT, you will need the beneficiary’s details and the IFSC code.
• IMPS (Immediate Payment Service): IMPS offers instant, 24/7 money transfers, even on holidays. For IMPS, you also need the beneficiary’s account number and the IFSC code. Many mobile banking apps use IMPS for quick transfers.

When making a transfer, always double-check the IFSC code along with the account number. A small error can lead to delays or, in rare cases, funds being sent to the wrong account.

Benefits of Knowing Your IFSC Code

Knowing the correct IFSC code for your bank branch offers several key advantages:

• Accurate Transfers: It ensures that your money reaches the intended recipient’s bank and branch without errors.
• Speed and Efficiency: Correct IFSC codes facilitate faster processing of online transactions, reducing delays.
• Security: It’s a standardized identification system that adds a layer of security to electronic fund transfers.
• Convenience: Enables you to conduct banking transactions from anywhere, using internet banking or mobile apps, without needing to visit the branch.
• Mandatory Requirement: It is a mandatory detail for all major electronic fund transfer methods like NEFT, RTGS, and IMPS.

Contact Section

For any inquiries or assistance related to the Bihar Gramin Bank CHORMA branch, you can use the following contact details:

• Branch Phone Number: 7091596928
• Branch Address: CHORMA, Nawada, 805109
• Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

FAQs

Here are some frequently asked questions about IFSC codes and this branch:

Q1: Is the IFSC code PUNB0MBGB06 valid for all types of online fund transfers?
A: Yes, the IFSC code PUNB0MBGB06 is valid and required for all major electronic fund transfers, including NEFT, RTGS, and IMPS, to and from the Bihar Gramin Bank CHORMA branch.

Q2: What happens if I enter an incorrect IFSC code during a transaction?
A: If the IFSC code is incorrect, the transaction will most likely fail and the funds will not be debited from your account. In some cases, if an incorrect but valid IFSC code is entered (belonging to another branch), the funds might be credited to a different account, causing delays and complications. Always double-check the code.

Q3: Can I find the IFSC code for this branch in my passbook?
A: Yes, the IFSC code is usually printed on the first page of your bank passbook or on your cheque leaves. You can also confirm it through the bank’s official website or by contacting the branch directly.

Q4: Why does the IFSC code start with “PUNB” if it’s Bihar Gramin Bank?
A: The “PUNB” prefix indicates that Punjab National Bank is the sponsor bank for Madhya Bihar Gramin Bank, which includes the CHORMA branch. Regional Rural Banks (RRBs) often operate under the sponsorship of larger public sector banks, and their IFSC codes reflect this sponsorship.

Q5: Is the MICR code necessary for online fund transfers?
A: No, the MICR (Magnetic Ink Character Recognition) code is primarily used for processing physical cheques. For online fund transfers like NEFT, RTGS, or IMPS, only the IFSC code, along with the account number and beneficiary details, is required.