When you need to send money digitally to someone, whether for personal reasons or business, you often hear terms like NEFT, RTGS, or IMPS. For any of these electronic fund transfers, a crucial piece of information is the Indian Financial System Code, or IFSC. This unique code identifies a specific bank branch in India. If you need to send money to or receive money from the Bihar Gramin Bank branch located in MALSALAMI PATNA, understanding its IFSC code is essential for smooth and secure transactions.
Branch Details: MALSALAMI PATNA
Here are the key details for the Bihar Gramin Bank branch in MALSALAMI PATNA:
| Bank Name | Bihar Gramin Bank |
| Branch Name | MALSALAMI PATNA |
| IFSC Code | PUNB0MBGB06 |
| MICR Code | 800811002 |
| Branch Code | 7416 |
| Branch Address | MALSALAMI PATNA, Patna, 800008, 9771464416 |
| Contact Number | 9771464416 |
| City | Patna |
| District | Patna |
| Reason | PATNA |
| Pincode | 800008 |
| State | Bihar |
Merger Update for Bihar Gramin Bank
Bihar Gramin Bank itself is a result of a significant merger. It was formed on January 1, 2019, by combining two regional rural banks: Madhya Bihar Gramin Bank and Bihar Kshetriya Gramin Bank. This newly formed entity operates under the sponsorship of Punjab National Bank. This is why the IFSC code for Bihar Gramin Bank branches, like MALSALAMI PATNA, starts with PUNB0, indicating its sponsorship by Punjab National Bank. The characters MBGB within the code reflect its origin from the former Madhya Bihar Gramin Bank.
Therefore, for the MALSALAMI PATNA branch, the only valid IFSC code for any financial transaction is PUNB0MBGB06. Any older IFSC codes associated with the former Madhya Bihar Gramin Bank or Bihar Kshetriya Gramin Bank for this specific branch are no longer active and will not work for fund transfers.
What is an IFSC Code?
The IFSC code is an 11-character alphanumeric code. It’s designed to uniquely identify every bank branch in India participating in the NEFT and RTGS systems. Here’s how it breaks down:
- The first four characters represent the name of the bank. For Bihar Gramin Bank, sponsored by Punjab National Bank, this is PUNB.
- The fifth character is always a zero (0). This is a control character reserved for future use.
- The last six characters identify the specific branch. For the MALSALAMI PATNA branch, these are MBGB06.
So, the complete IFSC code PUNB0MBGB06 clearly points to the Bihar Gramin Bank (under PNB sponsorship), MALSALAMI PATNA branch.
How to Use the IFSC Code
Knowing the correct IFSC code is critical for various digital payment methods. Here’s how you typically use it:
- NEFT (National Electronic Funds Transfer): When initiating an NEFT transfer through your bank’s online portal or mobile app, you will need to add the beneficiary. This usually involves providing the beneficiary’s name, bank account number, and the correct IFSC code of their branch. The system uses the IFSC to route the funds to the right bank and branch.
- RTGS (Real Time Gross Settlement): Similar to NEFT, for larger value transactions (typically 2 lakhs and above), RTGS also requires the beneficiary’s IFSC code. The real-time nature of RTGS means accuracy is even more important to ensure immediate credit.
- IMPS (Immediate Payment Service): For instant fund transfers that work 24/7, IMPS also relies on the IFSC code. Whether you’re using a mobile banking app or UPI, if you’re transferring money to an account number, the IFSC code is a primary identifier for the recipient’s bank branch.
Always double-check the IFSC code before confirming a transaction to avoid delays or, in rare cases, funds being sent to the wrong account.
Benefits of Knowing the IFSC Code
Having easy access to the correct IFSC code for the Bihar Gramin Bank, MALSALAMI PATNA branch offers several benefits:
- Facilitates Digital Transfers: Enables quick and smooth NEFT, RTGS, and IMPS transactions.
- Ensures Accuracy: Helps in routing funds to the precise branch, reducing errors in transactions.
- Saves Time: Speeds up the process of adding beneficiaries and initiating transfers online.
- Prevents Delays: An incorrect IFSC can cause transaction failures and delays in fund settlement.
- Necessary for Bill Payments: Sometimes, certain bill payments or online purchases might require an IFSC if payment is made directly to a bank account.
Contact Information
Should you need to reach out to the Bihar Gramin Bank for queries related to the MALSALAMI PATNA branch or general banking services, here are the relevant contact details:
- Branch Phone Number (MALSALAMI PATNA): 9771464416
- Branch Address (MALSALAMI PATNA): MALSALAMI PATNA, Patna, 800008, Bihar
- Bihar Gramin Bank Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
- Toll-Free Number (Punjab National Bank, sponsor bank): 18001807777
Frequently Asked Questions (FAQs)
What is the full form of IFSC?
IFSC stands for Indian Financial System Code. It’s an 11-character code used for electronic fund transfers in India.
Can I use an old IFSC code for Bihar Gramin Bank?
No. Due to the merger that formed Bihar Gramin Bank under Punjab National Bank’s sponsorship, old IFSC codes from the previous banks (Madhya Bihar Gramin Bank or Bihar Kshetriya Gramin Bank) are no longer valid for transactions. You must use the current IFSC code, like PUNB0MBGB06 for the MALSALAMI PATNA branch.
Is the IFSC code different for different branches of the same bank?
Yes, absolutely. While the first few characters (representing the bank and the ‘0’) might be the same, the last six characters are unique to each specific branch. This is how the system identifies the exact destination of your funds.
What if I enter a wrong IFSC code during a transaction?
If you enter an incorrect IFSC code, your transaction will likely fail and be returned to you. In some rare cases, if the incorrect IFSC code corresponds to a real, different branch, funds could be misdirected. Always verify the IFSC code carefully before confirming any transfer.
Is the MICR code the same as the IFSC code?
No, they are different codes used for different purposes. The MICR (Magnetic Ink Character Recognition) code is a 9-digit numerical code typically found on cheque leaves. It is mainly used for processing cheques. The IFSC code, on the other hand, is an 11-character alphanumeric code specifically for digital fund transfers like NEFT, RTGS, and IMPS.
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.