Bihar Gramin Bank Gaighat IFSC Code

Welcome to Gaighat, a bustling locality in the East Champaran district of Bihar. When managing your finances here, especially for digital money transfers, understanding the Indian Financial System Code (IFSC) is crucial. This unique code acts like a digital address for bank branches across India. It is absolutely essential for making quick and secure electronic fund transfers through services like NEFT (National Electronic Funds Transfer), RTGS (Real-Time Gross Settlement), and IMPS (Immediate Payment Service). Without the correct IFSC code, your money cannot reach the right recipient bank branch.

Bihar Gramin Bank Gaighat Branch Details

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

Bank Name	Bihar Gramin Bank
Branch Name	Gaighat
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	100260
Branch Address	Gaighat, EAST CHAMPARAN, 845437
Contact Number	9297954634
City	EAST CHAMPARAN
District	EAST CHAMPARAN
Reason	MOTIHARI
Pincode	845437
State	Bihar

Merger Update for Bihar Gramin Bank

For customers of what were formerly Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB), it is important to note a significant change. Both of these regional rural banks have merged to form the new entity, Bihar Gramin Bank. This merger means that all branches, including Gaighat, now operate under a unified system sponsored by Punjab National Bank. As a result, a single, standardized IFSC code, PUNB0MBGB06, is used for all transactions involving Bihar Gramin Bank branches.

This update is critical for anyone conducting fund transfers. All old IFSC codes associated with Uttar Bihar Gramin Bank or Dakshin Bihar Gramin Bank are now revoked and no longer valid. To ensure your transactions are successful, you must use only the new IFSC code, PUNB0MBGB06. Attempting to use old codes will result in failed transfers.

What is an IFSC Code?

The IFSC Code, or Indian Financial System Code, is an 11-character alphanumeric code. It uniquely identifies every bank branch participating in electronic fund transfers across India. This code is crucial for directing your money to the correct destination during digital transactions.

The 11 characters of an IFSC code are structured in a specific way:

• The first four characters represent the bank’s name. For example, in PUNB0MBGB06, “PUNB” stands for Punjab National Bank, the sponsoring bank for Bihar Gramin Bank.
• The fifth character is always ‘0’ (zero). This character is reserved for future use.
• The last six characters identify the specific branch. In PUNB0MBGB06, “MBGB06” denotes the particular branch code within the Bihar Gramin Bank network, with ’06’ likely indicating a specific region or branch sequence.

How to Use the IFSC Code

Using an IFSC code is straightforward once you understand its purpose. It’s a mandatory piece of information when you initiate electronic fund transfers like NEFT, RTGS, or IMPS. Here’s how you typically use it:

1. Gather Recipient Details: Before starting a transfer, you will need the recipient’s full name, their bank account number, the name of their bank, and the specific branch’s IFSC code.
2. Select Transfer Type: Log in to your bank’s internet banking portal or mobile app. Choose the type of transfer you want to make:
   • NEFT (National Electronic Funds Transfer): This service processes transactions in batches, typically clearing funds within a few hours during banking hours.
   • RTGS (Real-Time Gross Settlement): Ideal for high-value transactions, RTGS processes transfers individually and continuously, meaning funds are settled in real-time.
   • IMPS (Immediate Payment Service): This allows for instant, 24/7 fund transfers, even on holidays, perfect for urgent needs.
3. Enter Information: In the designated fields, carefully enter the recipient’s bank account number, confirm it, input the recipient’s name, and then type in the IFSC code. The system often validates the IFSC code by automatically displaying the bank and branch name once you enter it correctly.
4. Confirm and Transact: Review all the details, including the amount, before confirming the transfer. Using the correct IFSC code ensures your money goes to the right bank and branch.

Benefits of Knowing Your IFSC Code

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

• Accurate Fund Transfers: It ensures your money reaches the correct bank and specific branch, preventing misdirected funds.
• Prevents Transaction Failures: An incorrect or outdated IFSC code is a common reason for NEFT, RTGS, and IMPS transactions to fail, causing delays and inconvenience.
• Speeds Up Digital Transactions: With the correct code, electronic transfers are processed smoothly and quickly, whether it’s for paying bills, sending money to family, or business transactions.
• Essential for Online Banking: If you use internet banking or mobile banking apps, the IFSC code is a fundamental requirement for adding new beneficiaries and initiating transfers.
• Facilitates Interbank Transactions: It allows seamless financial interaction between different banks across India.

Contact Information

Should you need to get in touch with the bank, here are the contact details:

• Branch Phone Number (Gaighat): 9297954634
• Branch Address (Gaighat): Gaighat, EAST CHAMPARAN, 845437
• Bihar Gramin Bank Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

Frequently Asked Questions (FAQs)

Q1: What does IFSC stand for?
A1: IFSC stands for Indian Financial System Code.

Q2: Is the IFSC code the same for all branches of Bihar Gramin Bank?
A2: No, while the first five characters (PUNB0) might be consistent for all Bihar Gramin Bank branches under Punjab National Bank’s sponsorship, the last six characters are unique to each specific branch. So, the full 11-character code is unique for every branch.

Q3: Can I complete an NEFT or RTGS transaction without an IFSC code?
A3: No, an IFSC code is mandatory for all NEFT, RTGS, and IMPS transactions. It is crucial for identifying the correct destination bank branch for your funds.

Q4: Where can I find the correct IFSC code for a bank branch?
A4: You can find the IFSC code printed on your cheque book, on your bank passbook, on the bank’s official website, through your net banking portal, or by using reliable third-party financial service websites.

Q5: What happens if I use an incorrect IFSC code during a transfer?
A5: If you use an incorrect IFSC code, the transaction will most likely fail. The bank’s system will not be able to locate the intended recipient branch, and your funds will not be debited from your account or will be returned to you. It’s vital to double-check the code before confirming any transfer.