Bihar Gramin Bank KONCH IFSC Code

When you need to send or receive money, especially through digital channels, understanding the specific bank codes for your branch is essential. For the Bihar Gramin Bank branch located in KONCH, Gaya, Bihar, the Indian Financial System Code (IFSC) is a crucial detail. This unique 11-character code ensures that your fund transfers via NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), and IMPS (Immediate Payment Service) reach the correct bank and branch without any issues. It’s like an address for your money, making sure it arrives at the exact destination.

Branch Details Table

Bank Name	Bihar Gramin Bank
Branch Name	KONCH
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	7244
Branch Address	KONCH, Gaya, 824207, 9771464244
Contact Number	9771464244
City	Gaya
District	Gaya
Reason	GAYA
Pincode	824207
State	Bihar

Merger Update

Many regional rural banks (RRBs) in Bihar have undergone significant changes, including mergers to strengthen their operations and reach. Specifically, banks like Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB) have been part of these consolidation efforts. As a result of these mergers and restructuring under the sponsorship of Punjab National Bank, a unified system has been adopted for their services. The IFSC code PUNB0MBGB06, which is used for the KONCH branch of Bihar Gramin Bank, reflects this integrated structure. It’s important to note that any old IFSC codes previously associated with UBGB, DBGB, or other predecessor regional rural banks have been revoked. For all your financial transactions requiring an IFSC, only the new consolidated IFSC code like PUNB0MBGB06 is valid and should be used to ensure successful transfers.

What is an IFSC Code?

An IFSC code stands for Indian Financial System Code. It’s a unique 11-character alphanumeric code assigned by the Reserve Bank of India (RBI) to every bank branch in the country. This code is crucial for online money transfers within India.

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” signifies Punjab National Bank, which is the sponsoring bank for this regional rural bank.
• The fifth character is always a zero (0). This character is reserved for future use and acts as a control character.
• The last six characters uniquely identify the specific bank branch. In our example, “MBGB06” points directly to the KONCH branch.

This distinct structure ensures that every online transaction reaches the precise bank and branch it’s intended for, preventing errors and speeding up processing.

How to Use an IFSC Code

Using an IFSC code is straightforward when you’re making online money transfers. Here’s how it generally works for the main digital payment methods:

For NEFT (National Electronic Funds Transfer)

1. Log in to your bank’s online banking portal or mobile app.
2. Navigate to the “Fund Transfer” or “Payments” section.
3. Select “NEFT” as the transfer type.
4. Add a new beneficiary (recipient) if you haven’t transferred money to them before.
5. Enter the beneficiary’s bank account number, account holder’s name, and the branch’s IFSC code (PUNB0MBGB06 for KONCH branch).
6. Enter the amount you wish to transfer and confirm the details.

For RTGS (Real Time Gross Settlement)

1. Access your online banking or mobile app.
2. Go to the “Fund Transfer” section.
3. Choose “RTGS” for high-value transfers (typically above Rs. 2 lakh).
4. Provide the beneficiary’s details: account number, name, and the correct IFSC code (PUNB0MBGB06).
5. Input the transfer amount and review the information carefully before confirming.

For IMPS (Immediate Payment Service)

1. Open your mobile banking app or UPI app.
2. Select the “IMPS” option for instant transfers.
3. You can use either the beneficiary’s account number and IFSC (PUNB0MBGB06) or their Mobile Money Identifier (MMID) and mobile number, if applicable.
4. Enter the amount.
5. Verify all details, especially the IFSC and account number, and proceed with the transfer.

Benefits of Knowing the IFSC Code

Knowing the correct IFSC code for your bank branch, like PUNB0MBGB06 for Bihar Gramin Bank KONCH, offers several key advantages:

• Enables Online Transfers: It is mandatory for all NEFT, RTGS, and IMPS transactions, allowing you to send and receive money digitally.
• Ensures Accuracy: The unique code directs funds to the exact intended bank and branch, minimizing the risk of errors or transfers to the wrong account.
• Saves Time: It facilitates quick and efficient electronic fund transfers, eliminating the need for physical visits to the bank.
• Increases Security: By ensuring precise routing, it adds an extra layer of security to your financial transactions.
• Facilitates Payments: Useful for setting up recurring payments, bill payments, and e-commerce transactions where bank transfers are involved.

Contact Information

KONCH Branch Details:

Phone Number: 9771464244

Address: KONCH, Gaya, 824207, Bihar

Head Office Details:

Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR

Toll-Free Number: 18001807777

FAQs

What is the IFSC code for Bihar Gramin Bank KONCH branch?

The IFSC code for the Bihar Gramin Bank, KONCH branch, is PUNB0MBGB06.

Is it safe to share my IFSC code?

Yes, it is generally safe to share your IFSC code. The IFSC code is publicly available and is used to identify your bank branch for incoming transactions. It cannot be used on its own to withdraw money from your account. However, always be cautious about sharing your account number and other sensitive details.

Can I use an old IFSC code if I don’t know the new one after a bank merger?

No, you should always use the current and valid IFSC code. After a bank merger, old IFSC codes are typically revoked. Using an old or incorrect IFSC code will lead to transaction failure and can cause delays in your fund transfers. Always confirm the latest IFSC code, like PUNB0MBGB06, before initiating a transfer.

What happens if I enter the wrong IFSC code during a transfer?

If you enter an incorrect IFSC code, the transaction will most likely fail. Your bank’s system will identify that the code does not match the beneficiary’s bank and branch details, and the transfer will not be processed. The money will generally be returned to your account. In some rare cases, if the incorrect IFSC code corresponds to another valid branch and the account number also matches coincidentally, the funds might go to the wrong account. Therefore, double-checking the IFSC code is crucial.

Is the MICR code also important for online transfers?

While the IFSC code is essential for online NEFT, RTGS, and IMPS transfers, the MICR (Magnetic Ink Character Recognition) code is primarily used for clearing physical cheques. It’s printed on the cheque leaves and helps in the automated processing of cheques. For digital transfers, the IFSC code is the key identifier.