The Bihar Gramin Bank branch in Khanpur, Samastipur, Bihar, serves as a vital financial hub for the local community. For anyone needing to send or receive money electronically, understanding and using the Indian Financial System Code (IFSC) for this branch is crucial. The IFSC code is a unique 11-character identifier essential for safe and efficient online fund transfers through systems like NEFT, RTGS, and IMPS. Without the correct IFSC, these digital transactions cannot be completed.
Branch Details
| Detail | Information |
|---|---|
| Bank Name | Bihar Gramin Bank |
| Branch Name | Khanpur |
| IFSC Code | PUNB0MBGB06 |
| MICR Code | 800811002 |
| Branch Code | 3973 |
| Branch Address | Khanpur, Samastipur, 848117 |
| Contact Number | 9955991564 |
| City | Samastipur |
| District | Samastipur |
| Pincode | 848117 |
| State | Bihar |
Merger Update
It is important to note the changes that have taken place in the regional rural banking sector in Bihar. The original Bihar Gramin Bank, along with Kosi Kshetriya Gramin Bank, merged to form Madhya Bihar Gramin Bank. This new entity is sponsored by Punjab National Bank (PNB).
Therefore, even though the branch is referred to as Bihar Gramin Bank Khanpur, its operations and banking codes, including the IFSC, now fall under the umbrella of Madhya Bihar Gramin Bank, sponsored by PNB. The IFSC code PUNB0MBGB06 is the current and only valid code for this branch for all electronic fund transfers. Any older IFSC codes associated with the previous Bihar Gramin Bank entities are no longer active and will not work for transactions. Always use the updated code for successful transfers.
What is an IFSC Code?
The IFSC Code, or Indian Financial System Code, is a unique 11-character alphanumeric code used to identify all bank branches participating in electronic fund transfers within India. It is critical for accurately routing money to the correct bank and branch.
The structure of the IFSC code is straightforward:
- The first four characters identify the bank. For example, in PUNB0MBGB06, “PUNB” stands for Punjab National Bank, the sponsoring bank for Madhya Bihar Gramin Bank.
- The fifth character is always “0” (zero). This character is reserved for future use.
- The last six characters represent the specific branch code. In PUNB0MBGB06, “MBGB06” identifies the Khanpur branch of Madhya Bihar Gramin Bank.
How to Use the IFSC Code
Using the IFSC code is simple when you are making online fund transfers. Here’s a general guide for NEFT, RTGS, and IMPS transactions:
- Log In: Access your net banking portal or mobile banking app provided by your bank.
- Select Transfer Type: Choose the type of transfer you wish to make – NEFT (National Electronic Funds Transfer) for regular transfers, RTGS (Real Time Gross Settlement) for large, immediate transfers, or IMPS (Immediate Payment Service) for instant transfers, often using a mobile number and MMID or account number and IFSC.
- Add Beneficiary: If you are sending money to this account for the first time, you will need to add it as a new beneficiary.
- Enter Beneficiary Details: Provide the beneficiary’s full name, account number, account type (e.g., Savings, Current), and importantly, the IFSC code: PUNB0MBGB06.
- Verify and Confirm: Double-check all the details you’ve entered, especially the account number and IFSC code, to avoid any errors. Confirm the transaction amount.
- Authorize Payment: Complete the transfer by entering your transaction password or OTP (One Time Password).
Once confirmed, the funds will be transferred to the Bihar Gramin Bank, Khanpur branch account.
Benefits of Knowing Your IFSC Code
Knowing the correct IFSC code for your bank branch, or for any beneficiary you plan to pay, offers several advantages:
- Accurate Fund Transfers: Ensures your money reaches the intended recipient’s bank and specific branch without errors.
- Faster Processing: Correct IFSC codes help NEFT, RTGS, and IMPS transactions process smoothly and quickly.
- Prevents Transaction Failures: An incorrect IFSC is a common reason for failed online transfers, leading to delays and inconvenience.
- Security: Reduces the risk of funds being misdirected, enhancing the security of your financial transactions.
- Mandatory for Online Banking: It’s a required field for all electronic fund transfers, making it indispensable for digital banking.
Contact Information
For any queries or assistance related to the Bihar Gramin Bank Khanpur branch, you can use the following contact details:
- Branch Phone Number: 9955991564
- Branch Address: Khanpur, Samastipur, 848117, Bihar
- Head Office Address (Madhya Bihar Gramin Bank): SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
- Toll-Free Number (Punjab National Bank): 18001807777
Frequently Asked Questions (FAQs)
Q1: Why is the IFSC code for Bihar Gramin Bank Khanpur starting with “PUNB”?
A1: The Bihar Gramin Bank has undergone mergers and is now part of Madhya Bihar Gramin Bank, which is sponsored by Punjab National Bank (PNB). Therefore, its IFSC code begins with “PUNB” to reflect the sponsoring bank, PNB.
Q2: Can I use an old IFSC code for Bihar Gramin Bank?
A2: No. Due to the mergers, any old IFSC codes associated with the former Bihar Gramin Bank are no longer valid. You must use the current IFSC code, PUNB0MBGB06, for all electronic transactions to the Khanpur branch.
Q3: What happens if I enter an incorrect IFSC code during a transaction?
A3: If you enter an incorrect IFSC code, your transaction will likely fail and be rejected by the bank. The funds will usually be returned to your account within a few hours or days. It’s crucial to always verify the IFSC code carefully before confirming a transfer.
Q4: Is the IFSC code the same as the MICR code?
A4: No, the IFSC code and MICR code are different. The IFSC code (Indian Financial System Code) is used for electronic fund transfers (NEFT, RTGS, IMPS). The MICR code (Magnetic Ink Character Recognition) is a 9-digit code primarily used for processing physical cheques.
Q5: Do I need the IFSC code for all types of bank transactions?
A5: You need the IFSC code specifically for electronic fund transfers like NEFT, RTGS, and IMPS when sending money to another bank account. For cash deposits, withdrawals, or transactions within the same branch using a passbook, the IFSC code is not typically required.
Kritti Kumari is a banker and MBA graduate who writes about banking, finance, and customer-friendly services. She simplifies complex financial products into easy guides, helping readers understand Bihar Gramin Bank’s offerings and make smarter money decisions.