Bihar Gramin Bank KORIYOUNA IFSC Code

When you need to send or receive money, understanding the correct bank details is crucial. For the Bihar Gramin Bank branch located in KORIYOUNA, Nawada, Bihar, knowing its Indian Financial System Code (IFSC) is essential for smooth and secure electronic fund transfers. This unique 11-character code is vital for processing transactions through systems like National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS), and Immediate Payment Service (IMPS). Without the accurate IFSC, your bank transactions simply cannot go through.

Branch Details

Bank Name	Bihar Gramin Bank
Branch Name	KORIYOUNA
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	6927
Branch Address	KORIYOUNA, Nawada, 805126, 7091596927
Contact Number	7091596927
City	Nawada
District	Nawada
Reason	NAWADA
Pincode	805126
State	Bihar

Merger Update

Bihar Gramin Bank, including its KORIYOUNA branch, operates as a Regional Rural Bank (RRB) sponsored by Punjab National Bank (PNB). This means it falls under the unified banking structure used for PNB-sponsored RRBs. For this reason, Bihar Gramin Bank uses the IFSC series that starts with “PUNB0MBGB”. You might be aware that other Regional Rural Banks in the region, such as Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB), have merged. These merged entities also now use a common IFSC code under Punjab National Bank, specifically one from the “PUNB0MBGB” series. This standardization ensures a consistent system for all PNB-sponsored Gramin Banks.

For Bihar Gramin Bank’s KORIYOUNA branch, the specific IFSC code is PUNB0MBGB06. It is crucial to understand that any old or previously used IFSC codes for such regional rural banks, if they existed, have been revoked and are no longer valid for transactions. Always use the current and correct IFSC code, PUNB0MBGB06, for all your financial transfers involving the Bihar Gramin Bank KORIYOUNA branch.

What is an IFSC Code?

The IFSC, or Indian Financial System Code, is a unique 11-character alphanumeric code. It’s used to identify every bank branch participating in online money transfers within India. This code acts like an electronic address for a bank branch, ensuring that your funds reach the correct destination without errors. Each part of the IFSC holds specific information:

• The first four characters represent the bank name. For PUNB0MBGB06, “PUNB” stands for Punjab National Bank, the sponsoring bank for Bihar Gramin Bank.
• The fifth character is always a “0” (zero). This character is reserved for future use and helps distinguish the bank code from the branch code.
• The last six characters uniquely identify a specific branch. In the case of PUNB0MBGB06, “MBGB06” is the unique identifier for the KORIYOUNA branch of Bihar Gramin Bank within the Punjab National Bank-sponsored Gramin Bank system. Here, “MBGB” likely signifies a collective identifier for “Mahagramin Bank” or a similar grouping of Regional Rural Banks, with “06” being specific to the KORIYOUNA branch.

How to Use an IFSC Code

Using the IFSC code is a straightforward process when you’re making electronic fund transfers. Here’s how it works for common services:

• NEFT (National Electronic Funds Transfer): This system processes transfers in batches. When initiating an NEFT transfer through your bank’s online portal or at a branch, you will need to provide:
  • The beneficiary’s bank account number.
  • The beneficiary’s name.
  • The beneficiary’s bank name (Bihar Gramin Bank).
  • The branch name (KORIYOUNA).
  • The IFSC code (PUNB0MBGB06).
  • The amount you wish to transfer.

  NEFT transactions are usually settled hourly during business hours.

• RTGS (Real Time Gross Settlement): RTGS is designed for large-value transactions, typically for amounts of 2 lakh rupees or more. It processes transfers individually and in real time. The information required is similar to NEFT:
  • Beneficiary’s bank account number.
  • Beneficiary’s name.
  • Beneficiary’s bank name and branch (Bihar Gramin Bank, KORIYOUNA).
  • IFSC code (PUNB0MBGB06).
  • The transfer amount.

  Funds are typically credited to the beneficiary’s account almost immediately once processed.

• IMPS (Immediate Payment Service): IMPS offers instant, 24/7 fund transfers, even on holidays. It’s often used for smaller, urgent transfers. You will need:
  • Beneficiary’s bank account number.
  • Beneficiary’s name.
  • IFSC code (PUNB0MBGB06).
  • The amount to be sent.

  Many banks also allow IMPS transfers using only a beneficiary’s mobile number and MMID (Mobile Money Identifier), but using the IFSC and account number is also a common method.

Benefits of Knowing the IFSC Code

Having the correct IFSC code at hand offers several advantages:

• Accuracy in Transfers: It ensures that your money reaches the exact bank branch and account you intend, minimizing the risk of misdirected funds.
• Faster Processing: With the correct IFSC, electronic transfers like NEFT, RTGS, and IMPS are processed efficiently, allowing for quicker credit to the beneficiary’s account.
• Enhanced Security: The unique identification provided by the IFSC adds a layer of security to your transactions by precisely identifying the recipient’s bank and branch.
• Prevents Transaction Failures: An incorrect or outdated IFSC code will cause your transaction to fail, leading to delays and potential inconvenience. Using the right code avoids these issues.
• Easy Branch Identification: The IFSC code helps in easily identifying any bank branch across India, which is especially useful when dealing with branches in different cities or states.

Contact Information

• Branch Phone Number (KORIYOUNA): 7091596927
• Branch Address (KORIYOUNA): KORIYOUNA, Nawada, 805126, Bihar
• Bihar Gramin Bank Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

Frequently Asked Questions

Here are some common questions about IFSC codes and the Bihar Gramin Bank KORIYOUNA branch:

Q1: Is PUNB0MBGB06 specific only to the KORIYOUNA branch?

No, the full IFSC code PUNB0MBGB06 is specific to the KORIYOUNA branch. While the first few characters “PUNB0MBGB” identify the group of Punjab National Bank-sponsored Gramin Banks, the last two characters “06” specifically denote the KORIYOUNA branch within this system. Every participating branch will have a unique full 11-character IFSC.

Q2: What happens if I use an old or incorrect IFSC code for a transfer?

If you use an old or incorrect IFSC code, your electronic fund transfer (NEFT, RTGS, IMPS) will almost certainly fail. The banking system relies on this code for accurate routing. The transaction will either be rejected immediately or returned to your account after some time, causing delays.

Q3: What is the difference between an IFSC code and a MICR code?

The IFSC (Indian Financial System Code) is used primarily for electronic fund transfers (NEFT, RTGS, IMPS) and identifies a bank branch for these digital transactions. The MICR (Magnetic Ink Character Recognition) code, on the other hand, is a 9-digit numerical code printed on cheque leaves. It is mainly used for clearing physical cheques and helps in faster processing of cheques through a machine-readable format.

Q4: Can I find the IFSC code for Bihar Gramin Bank KORIYOUNA branch online?

Yes, you can find the IFSC code for this branch and others online. Reputable financial websites, the Reserve Bank of India (RBI) website, and the official bank’s website (if available) often provide tools to search for IFSC codes using the bank name, state, district, and branch name.

Q5: Is Bihar Gramin Bank a nationalized bank?

Bihar Gramin Bank is a Regional Rural Bank (RRB), not a nationalized bank. Regional Rural Banks are financial institutions that provide banking services to rural and semi-urban areas. They are jointly owned by the Government of India, the state government, and a sponsoring public sector bank. In this case, Punjab National Bank is the sponsoring bank for Bihar Gramin Bank.