Bihar Gramin Bank Nayanagar IFSC Code

The Bihar Gramin Bank branch in Nayanagar, located in the Samastipur district of Bihar, serves as an important hub for financial services in the region. For anyone looking to transfer money electronically, understanding the Indian Financial System Code (IFSC) is crucial. This unique code is essential for all online fund transfers, including transactions made through NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), and IMPS (Immediate Payment Service). It ensures that your money reaches the correct bank and branch without any issues.

Branch Details

Bank Name	Bihar Gramin Bank
Branch Name	Nayanagar
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	3930
Branch Address	Nayanagar, Samastipur, 848208, 9955997836
Contact Number	9955997836
City	Samastipur
District	Samastipur
Pincode	848208
State	Bihar

Merger Update

For those familiar with the banking landscape in Bihar, it’s important to note recent changes. Previously, various regional rural banks operated, including Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB). These banks, along with others, have been merged to form a single, unified entity in Bihar. The Nayanagar branch, now part of Bihar Gramin Bank, operates under the sponsorship of Punjab National Bank (PNB).

Due to this consolidation, all previous IFSC codes associated with banks like UBGB and DBGB have been revoked. It is crucial that for any transactions related to Bihar Gramin Bank, including the Nayanagar branch, you use the new, standardized IFSC code: PUNB0MBGB06. Using any old IFSC code will result in transaction failure. This single code ensures consistency and smooth electronic fund transfers across all branches of Bihar Gramin Bank.

What is an IFSC Code?

The IFSC Code stands for Indian Financial System Code. It is an 11-character alphanumeric code that uniquely identifies every bank branch in India participating in the NEFT, RTGS, and IMPS systems. The Reserve Bank of India (RBI) assigns these codes. Understanding its structure can help you identify its parts:

• The first four characters represent the bank’s name. For example, in PUNB0MBGB06, “PUNB” indicates Punjab National Bank, which is the sponsor bank for Bihar Gramin Bank.
• The fifth character is always a zero (0). This character is reserved for future use and helps distinguish between various bank branches.
• The last six characters identify the specific branch. In PUNB0MBGB06, “MBGB06” refers to the specific branch within the Bihar Gramin Bank network.

This structure ensures that each transaction is directed to the exact bank and branch intended, minimizing errors.

How to Use the IFSC Code

Using the IFSC code correctly is vital for secure and efficient online money transfers. Here’s how you’d typically use it:

• For NEFT (National Electronic Funds Transfer): This system processes transfers in batches. When initiating a NEFT transaction through your bank’s online portal or mobile app, you will need to provide:
  1. The beneficiary’s bank account number.
  2. The beneficiary’s bank name.
  3. The beneficiary’s full name.
  4. The IFSC code of the beneficiary’s branch (e.g., PUNB0MBGB06 for Nayanagar branch).
  5. The amount to be transferred.

  NEFT is generally used for non-urgent transfers.

• For RTGS (Real Time Gross Settlement): RTGS is for large-value transactions that need to be processed immediately and individually. The steps are similar to NEFT, but RTGS has higher minimum transaction limits (usually Rs. 2 lakh or more). You will need:
  1. The beneficiary’s bank account number.
  2. The beneficiary’s bank name.
  3. The beneficiary’s full name.
  4. The IFSC code of the beneficiary’s branch.
  5. The amount to be transferred.

  Funds are credited to the recipient’s account in real-time.

• For IMPS (Immediate Payment Service): IMPS allows instant, 24/7 fund transfers, even on holidays. It’s often used for smaller, urgent transfers. You typically need:
  1. The beneficiary’s bank account number.
  2. The beneficiary’s name.
  3. The IFSC code of the beneficiary’s branch.
  4. The amount to be transferred.
  5. Alternatively, some IMPS transactions can be done using a mobile number and MMID (Mobile Money Identifier).

  The Nayanagar branch’s IFSC code will ensure immediate credit for IMPS transfers.

Always double-check the IFSC code and account details before confirming a transfer to avoid errors.

Benefits of Knowing Your IFSC Code

Having easy access to the correct IFSC code for your bank branch offers several key advantages:

• Faster Transfers: Ensures your electronic transactions are processed quickly and without delays.
• Accuracy: Guarantees that funds are directed to the exact intended bank branch, preventing misdirected payments.
• Security: Adds an extra layer of verification, reducing the risk of fraudulent transfers.
• Convenience: Simplifies the process of setting up new beneficiaries for online banking.
• Essential for Digital Banking: It is a mandatory requirement for most digital payment methods like NEFT, RTGS, and IMPS.

Contact Information

For any banking inquiries related to the Nayanagar branch or Bihar Gramin Bank, you can use the following details:

• Nayanagar Branch Phone Number: 9955997836
• Nayanagar Branch Address: Nayanagar, Samastipur, 848208
• Bihar Gramin Bank Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Bihar Gramin Bank Toll-Free Number: 18001807777

Frequently Asked Questions

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

Q1: Is the IFSC code PUNB0MBGB06 valid for all Bihar Gramin Bank branches?
A1: No, PUNB0MBGB06 is specifically for the Nayanagar branch of Bihar Gramin Bank. Each branch typically has its own unique IFSC code. You should always confirm the exact IFSC code for the specific branch you intend to transact with.

Q2: What happens if I use an old or incorrect IFSC code?
A2: If you use an old or incorrect IFSC code, your electronic fund transfer (NEFT, RTGS, IMPS) will likely fail. The transaction will be rejected, and the funds will not reach the beneficiary’s account. It’s crucial to use the current and correct IFSC code.

Q3: Can I find the IFSC code on my bank passbook?
A3: Yes, the IFSC code is usually printed on the first page of your bank passbook or on your cheque book. You can also find it on the bank’s official website or through the RBI’s website.

Q4: Who sponsors Bihar Gramin Bank?
A4: Bihar Gramin Bank is sponsored by Punjab National Bank (PNB). This sponsorship is reflected in the first four characters of its IFSC codes, which are “PUNB”.

Q5: Is it safe to share the IFSC code with others?
A5: Yes, it is generally safe to share your IFSC code with others who need to transfer money to your account. The IFSC code only helps identify your bank and branch for incoming transfers; it does not provide direct access to your account or sensitive personal information.