Bihar Gramin Bank Nagara IFSC Code

Welcome to our guide on the Bihar Gramin Bank, Nagara branch. This branch is located in Nagara, a part of the Saran district in Bihar. Understanding the Indian Financial System Code, or IFSC, is crucial for anyone needing to transfer money electronically. This unique code acts like a digital address for bank branches, making sure your funds reach the correct recipient quickly and securely through systems like NEFT, RTGS, and IMPS.

Branch Details

Bank Name	Bihar Gramin Bank
Branch Name	Nagara
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	100871
Branch Address	Nagara, SARAN, 841442, Bihar
Contact Number	9297955258
City	SARAN
District	SARAN
Pincode	841442
State	Bihar

Merger Update

For those who previously banked with Uttar Bihar Gramin Bank (UBGB) or Dakshin Bihar Gramin Bank (DBGB), it’s important to know about a significant change. Both of these banks have merged to form Bihar Gramin Bank. As part of this merger, all branches of the new Bihar Gramin Bank now operate under a single, unified IFSC code, which is PUNB0MBGB06. This new code is sponsored by Punjab National Bank.

This means that any old IFSC codes associated with Uttar Bihar Gramin Bank or Dakshin Bihar Gramin Bank branches are now revoked and no longer valid for transactions. To ensure your fund transfers are successful, you must use the new and official IFSC code: PUNB0MBGB06.

What is IFSC Code?

The IFSC Code, or Indian Financial System Code, is an 11-character alphanumeric code. It’s unique to each bank branch in India. Think of it as a specific address for every branch, essential for electronic fund transfers.

The code is structured in a particular way:

• The first four characters represent the bank’s name. For example, ‘PUNB’ stands for Punjab National Bank, which sponsors Bihar Gramin Bank.
• The fifth character is always a ‘zero’ (0). This character is reserved for future use and helps distinguish the bank code from the branch code.
• The last six characters identify the specific bank branch. In the case of PUNB0MBGB06, ‘MBGB06’ points to a specific branch within the Bihar Gramin Bank network.

How to Use IFSC Code

The IFSC code is vital for several types of electronic fund transfers. Here’s how you’d typically use it:

• NEFT (National Electronic Funds Transfer): When you want to send money via NEFT, you’ll need the beneficiary’s name, account number, account type, and the correct IFSC code of their bank branch. You input this information into your bank’s online banking portal or a physical NEFT form at the branch.
• RTGS (Real Time Gross Settlement): For larger transactions (usually above ₹2 Lakh), RTGS is used. Similar to NEFT, you’ll need the beneficiary’s details, including their IFSC code, to initiate the transfer. RTGS transactions are processed individually and in real-time.
• IMPS (Immediate Payment Service): IMPS allows instant, 24/7 fund transfers. You can use it via mobile banking apps or internet banking. You will need the beneficiary’s mobile number and MMID (Mobile Money Identifier) or their account number and IFSC code.

Always double-check the IFSC code before confirming a transaction. An incorrect code could delay or misdirect your funds.

Benefits of Knowing Your IFSC Code

Knowing the correct IFSC code for your bank branch offers several advantages:

• Facilitates Electronic Transfers: It’s essential for sending or receiving money through NEFT, RTGS, and IMPS securely.
• Ensures Accuracy: It helps ensure that funds are credited to the correct beneficiary bank and branch, reducing errors.
• Speeds Up Transactions: Correct IFSC codes help banks process your transactions faster, especially for urgent transfers.
• Verifies Branch Identity: It provides a unique identifier for each branch, helping to distinguish between branches of the same bank.
• Online Banking Convenience: Many online banking platforms automatically validate the bank and branch once the IFSC is entered, streamlining the process.

Contact Information

• Branch Phone Number: 9297955258
• Branch Address: Nagara, SARAN, 841442, Bihar
• Head Office Address (Bihar Gramin Bank): SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number (Punjab National Bank, sponsor of Bihar Gramin Bank): 18001807777

FAQs

Here are some frequently asked questions about the Bihar Gramin Bank Nagara IFSC code:

Q1: What is the IFSC code for Bihar Gramin Bank, Nagara branch?
A1: The IFSC code for Bihar Gramin Bank, Nagara branch, is PUNB0MBGB06.

Q2: Can I use an old Uttar Bihar Gramin Bank (UBGB) IFSC code for transactions?
A2: No, old UBGB or Dakshin Bihar Gramin Bank (DBGB) IFSC codes are no longer valid. You must use the unified IFSC code PUNB0MBGB06 for all transactions with Bihar Gramin Bank branches.

Q3: Why is the IFSC code starting with ‘PUNB’?
A3: Bihar Gramin Bank is sponsored by Punjab National Bank (PNB). According to regulatory guidelines, regional rural banks often use an IFSC code structure that reflects their sponsoring commercial bank. ‘PUNB’ represents Punjab National Bank.

Q4: What should I do if my electronic fund transfer fails due to an incorrect IFSC code?
A4: If your transaction fails because of an incorrect IFSC code, the funds are usually reverted to your account. You should verify the correct IFSC code (PUNB0MBGB06 for Nagara branch) and re-initiate the transaction.

Q5: Is the MICR code also important for bank transfers?
A5: While the IFSC code is crucial for electronic funds transfers like NEFT, RTGS, and IMPS, the MICR (Magnetic Ink Character Recognition) code is primarily used for clearing physical cheques. It helps in processing cheques quickly and accurately.