Bihar Gramin Bank LAKHAIPUR IFSC Code

This article provides essential details about the Bihar Gramin Bank branch located in LAKHAIPUR, Gaya, Bihar. Understanding the Indian Financial System Code (IFSC) for this branch is crucial for anyone needing to transfer funds digitally. The IFSC code ensures that money sent through systems like NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), and IMPS (Immediate Payment Service) reaches the correct bank and branch without error.

Branch Details

Here are the key details for the Bihar Gramin Bank LAKHAIPUR branch:

Bank Name	Bihar Gramin Bank
Branch Name	LAKHAIPUR
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	7248
Branch Address	LAKHAIPUR, Gaya, 805141, 9771464248
Contact Number	9771464248
City	Gaya
District	Gaya
Pincode	805141
State	Bihar

Merger Update

Bihar Gramin Bank was formed from the merger of two significant regional rural banks: Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB). Following this merger, both entities now operate under the sponsorship of Punjab National Bank. This means they use a unified system for their IFSC codes.

For the LAKHAIPUR branch, the current IFSC code is PUNB0MBGB06. It is very important to note that any old IFSC codes that were previously associated with Uttar Bihar Gramin Bank or Dakshin Bihar Gramin Bank have been revoked. These old codes are no longer valid for conducting financial transactions. Always ensure you use the new, consolidated IFSC code for all your fund transfers to guarantee they are processed correctly and without issues.

What is an IFSC Code?

The IFSC (Indian Financial System Code) is an 11-character code unique to each bank branch in India. It is used to identify the specific branch for electronic fund transfers. This code helps direct your money to the exact recipient account, even if the recipient is in a different city or state.

The structure of an IFSC code is as follows:

• The first four characters represent the bank name. For the LAKHAIPUR branch’s IFSC code, PUNB0MBGB06, “PUNB” stands for Punjab National Bank, the sponsoring bank for Bihar Gramin Bank.
• The fifth character is always a zero (0). This character is a control digit, reserved for future use.
• The last six characters identify the specific bank branch. In this case, “MBGB06” uniquely identifies the LAKHAIPUR branch.

How to Use an IFSC Code

Using an IFSC code is straightforward when you’re setting up an electronic fund transfer. Here are the steps for common transfer methods like NEFT, RTGS, and IMPS:

1. Log In to Your Bank’s Online Portal or Mobile App: Access your internet banking or mobile banking application.
2. Select Funds Transfer: Look for options like “Fund Transfer,” “NEFT,” “RTGS,” or “IMPS.”
3. Add Beneficiary: If you’re sending money to someone for the first time, you will need to add them as a “beneficiary.” This usually involves providing their name, account number, account type (savings or current), and the bank’s IFSC code.
4. Enter Beneficiary Details: Carefully input the recipient’s bank account number, their name, and the correct IFSC code for their branch, which for Bihar Gramin Bank LAKHAIPUR is PUNB0MBGB06.
5. Verify Details: Always double-check all the details you’ve entered. An incorrect IFSC code or account number can lead to delays or money being sent to the wrong account.
6. Enter Amount and Confirm: Specify the amount you wish to transfer and confirm the transaction.

For NEFT and RTGS, transactions are processed in batches or at specific intervals. IMPS offers instant transfers 24/7.

Benefits of Knowing the IFSC Code

Having the correct IFSC code is highly beneficial for several reasons:

• Ensures Accuracy: It directs your money to the precise branch, preventing errors and ensuring funds reach the intended recipient.
• Facilitates Online Transfers: It is mandatory for all digital transactions like NEFT, RTGS, and IMPS, making banking convenient from anywhere.
• Speeds Up Transactions: By correctly identifying the branch, it helps in faster processing of inter-bank fund transfers.
• Enhances Security: It adds a layer of verification, reducing the chances of fraudulent transactions by ensuring precise routing.
• Easy Tracking: In case of any issues, the unique code helps in tracking the transaction more efficiently.

Contact Information

For assistance with the Bihar Gramin Bank LAKHAIPUR branch, you can use the following contact details:

• Branch Phone Number: 9771464248
• Branch Address: LAKHAIPUR, Gaya, 805141, Bihar
• Head Office Address (Bihar Gramin Bank): SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

Frequently Asked Questions

Here are answers to some common questions about the IFSC code and related banking details:

Q1: What does IFSC stand for?
A1: IFSC stands for Indian Financial System Code. It is a unique 11-character alphanumeric code used for electronic fund transfers within India.

Q2: Is the LAKHAIPUR branch’s IFSC code permanent?
A2: Generally, an IFSC code is permanent for a branch. However, in cases of bank mergers, branch closures, or system changes, the IFSC code can be updated. As stated, the old codes for UBGB and DBGB have been replaced with the current one for Bihar Gramin Bank.

Q3: Can I use an old Uttar Bihar Gramin Bank (UBGB) or Dakshin Bihar Gramin Bank (DBGB) IFSC code for transactions?
A3: No, you cannot. Following the merger, all old IFSC codes associated with UBGB and DBGB have been revoked. You must use the new, consolidated IFSC code, which for the LAKHAIPUR branch is PUNB0MBGB06.

Q4: What happens if I use a wrong IFSC code during a fund transfer?
A4: If you use an incorrect IFSC code, your transaction may fail. The funds might be returned to your account, or in rare cases, if the wrong IFSC code corresponds to another valid branch and account, the money could be sent to the wrong recipient. Always verify the IFSC code carefully before confirming a transfer.

Q5: Is the MICR code also important for fund transfers?
A5: While the IFSC code is crucial for online fund transfers (NEFT, RTGS, IMPS), the MICR (Magnetic Ink Character Recognition) code is primarily used for processing physical cheques. It helps identify the bank and branch quickly for cheque clearing processes. Both codes serve important but different functions in the banking system.