Bihar Gramin Bank KOSHI IFSC Code

The Bihar Gramin Bank branch located in KOSHI, Nawada, Bihar, serves as a crucial point for banking services in the area. When you need to transfer funds digitally, whether to family, friends, or for business, understanding the Indian Financial System Code (IFSC) for this branch is essential. This unique code enables smooth and secure transactions through systems like NEFT, RTGS, and IMPS, ensuring your money reaches the correct recipient quickly and without issues.

Branch Details

Detail	Information
Bank Name	Bihar Gramin Bank
Branch Name	KOSHI
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	7509
Branch Address	KOSHI, Nawada, 805160, 7541807509
Contact Number	7541807509
City	Nawada
District	Nawada
Reason	NAWADA
Pincode	805160
State	Bihar

Merger Update

The Bihar Gramin Bank KOSHI branch is sponsored by Punjab National Bank. In the context of regional rural banks in Bihar, significant mergers have taken place to consolidate services and improve efficiency. If a branch previously belonged to Uttar Bihar Gramin Bank (UBGB) or Dakshin Bihar Gramin Bank (DBGB), these banks, along with others, have consolidated. They now operate under the sponsorship of Punjab National Bank. The current IFSC code for these consolidated entities is PUNB0MBGB06. It is very important to note that any old IFSC codes previously used for UBGB or DBGB are now revoked and are no longer valid for any fund transfers. Always use the new, standardized PUNB0MBGB06 for your transactions to avoid any processing delays or failures.

What is an IFSC Code?

The IFSC, or Indian Financial System Code, is an 11-character code used to identify all bank branches involved in online money transfers. This code is crucial for directing funds accurately to the right bank and branch across India. Understanding its structure helps in verifying its authenticity:

• The first four characters represent the bank name. For PUNB0MBGB06, “PUNB” stands for Punjab National Bank, the sponsoring 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 identify the specific branch. In this case, “MBGB06” uniquely identifies the KOSHI branch under the Bihar Gramin Bank (which originated from Madhya Bihar Gramin Bank) structure.

How to Use an IFSC Code

Using the IFSC code is a straightforward process when you are making digital fund transfers through NEFT, RTGS, or IMPS. Here’s how you would typically use it:

1. Log In to Your Bank Account: Access your internet banking portal or mobile banking app.
2. Select Fund Transfer Option: Choose NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), or IMPS (Immediate Payment Service).
3. Add Beneficiary: If you are transferring to someone new, you will need to add them as a beneficiary. This involves providing their name, account number, account type (savings or current), and the IFSC code of their bank branch.
4. Enter Transfer Details: Once the beneficiary is added (or selected, if already added), enter the amount you wish to transfer.
5. Confirm Transaction: Review all the details, including the IFSC code, account number, and amount, before confirming the transaction. This ensures the money goes to the right place.

Benefits of Knowing Your IFSC Code

Knowing the correct IFSC code for your bank branch, or the branch of your recipient, offers several important benefits:

• Accurate Fund Transfers: Ensures that money sent via NEFT, RTGS, or IMPS reaches the intended recipient’s account without errors.
• Faster Processing: Correct IFSC codes help banks process transactions quickly, minimizing delays in fund transfers.
• Secure Transactions: It adds a layer of security by verifying the authenticity of the recipient’s bank branch.
• Mandatory for Digital Payments: The IFSC code is a compulsory detail for all major online interbank transfers in India.
• Avoids Transaction Failures: Using the correct code prevents transactions from being rejected or returned, saving time and hassle.

Contact Information

For any banking-related queries or assistance regarding the Bihar Gramin Bank KOSHI branch, you can use the following contact details:

• Branch Phone Number: 7541807509
• Branch Address: KOSHI, Nawada, 805160, Bihar
• Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

Frequently Asked Questions (FAQs)

Q1: What does “MBGB” stand for in the IFSC code PUNB0MBGB06?
A: “MBGB” typically stands for Madhya Bihar Gramin Bank. Following bank mergers, many regional rural banks like Madhya Bihar Gramin Bank and Uttar Bihar Gramin Bank were consolidated into the broader Bihar Gramin Bank, which is sponsored by Punjab National Bank.

Q2: Is the IFSC code the same for all branches of Bihar Gramin Bank?
A: No, the IFSC code is unique to each individual branch. While the first few characters (like PUNB0) might be similar for branches under the same sponsoring bank, the last six characters (branch code) will differ for each specific branch.

Q3: What if I use an old or incorrect IFSC code for a transfer?
A: If you use an old or incorrect IFSC code, your transaction will likely fail or be delayed. The funds may be returned to your account after some time, or the transaction might not go through at all. Always double-check the code before initiating a transfer.

Q4: Do I need an IFSC code for cash deposits or withdrawals at the branch?
A: No, the IFSC code is primarily required for digital fund transfers between different bank accounts and branches. You do not need it for cash deposits or withdrawals made directly at your own bank branch.

Q5: How can I verify the correct IFSC code for another bank’s branch?
A: You can usually find the correct IFSC code on the recipient’s bank passbook or cheque book. Many banks also provide an IFSC lookup tool on their official websites, or you can use reliable third-party financial service portals.