Bihar Gramin Bank Paiga Bazar IFSC Code

Welcome to Paiga Bazar, a bustling area in the SARAN district of Bihar. If you’re looking to send or receive money electronically from this location, understanding the Indian Financial System Code (IFSC) for the local bank branch is essential. This unique 11-character code plays a crucial role in ensuring that your online money transfers, whether through NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), or IMPS (Immediate Payment Service), reach the correct bank and branch without any issues. It acts like a digital address for the branch, making sure your funds are routed accurately and efficiently.

Branch Details Table

Bank Name	Bihar Gramin Bank
Branch Name	Paiga Bazar
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	100562
Branch Address	Paiga Bazar, SARAN, 841402
Contact Number	9297955263
City	SARAN
District	SARAN
Reason	CHAPRA
Pincode	841402
State	Bihar

Merger Update

Bihar Gramin Bank was formed through the merger of two important regional rural banks: Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB). Following this merger, Bihar Gramin Bank now operates under the sponsorship of Punjab National Bank. This means that all branches, including the Paiga Bazar branch, use a single, unified IFSC code: PUNB0MBGB06.

It’s important to note that any old IFSC codes specifically assigned to Uttar Bihar Gramin Bank (UBGB) or Dakshin Bihar Gramin Bank (DBGB) branches are no longer valid for electronic fund transfers. To ensure your transactions are successful, always use the new and officially recognized IFSC code, PUNB0MBGB06, for any transactions involving Bihar Gramin Bank. Using an old or incorrect code will lead to transaction failure.

What is IFSC Code?

IFSC stands for Indian Financial System Code. It is an 11-character alphanumeric code. This code uniquely identifies every bank branch in India participating in electronic fund transfers. The structure of the IFSC code is specific:

• The first four characters represent the bank name. For PUNB0MBGB06, “PUNB” clearly indicates Punjab National Bank, which is the sponsoring bank for Bihar Gramin Bank.
• The fifth character is always a zero (0). This character is kept as a control character for future use.
• The last six characters identify the specific branch. In the case of PUNB0MBGB06, “MBGB06” helps to pinpoint the Paiga Bazar branch of Bihar Gramin Bank.

This unique identification system helps route money accurately to the intended bank and branch.

How to Use IFSC Code

You will need the IFSC code whenever you want to transfer money electronically using services like NEFT, RTGS, or IMPS. Here’s a simple guide:

1. Log in to your banking portal: Access your online banking account or mobile banking app.
2. Select the transfer type: Choose NEFT, RTGS, or IMPS, depending on your needs.
3. Add a new beneficiary: If you haven’t transferred money to this person or entity before, you’ll need to add them as a new beneficiary.
4. Enter beneficiary details:
   • Beneficiary Name: The full name of the person or entity you are sending money to.
   • Beneficiary Account Number: The correct account number of the recipient. Double-check this carefully.
   • Confirm Account Number: Enter the account number again to ensure accuracy.
   • Bank Name: Select “Bihar Gramin Bank.”
   • IFSC Code: Enter PUNB0MBGB06.
5. Enter the amount: Specify how much money you wish to transfer.
6. Review and confirm: Always review all the details before confirming the transaction. An incorrect IFSC or account number can lead to money being sent to the wrong person, which can be difficult to recover.

Benefits of Knowing the IFSC Code

Knowing the correct IFSC code for your bank branch, or for any branch you need to send money to, offers several advantages:

• It ensures that your electronic fund transfers through NEFT, RTGS, and IMPS are successful.
• It helps in accurately routing funds to the specific bank and branch of the recipient.
• It is mandatory for setting up beneficiaries for online payments.
• It simplifies online transactions, making them faster and more secure.
• It is required for various financial operations beyond just money transfers, such as applying for loans or updating bank details with institutions.
• It provides a unique identifier for every bank branch, reducing errors in financial transactions.

Contact Section

For any inquiries related to the Bihar Gramin Bank, Paiga Bazar branch, or other general banking services, you can use the following contact details:

• Branch Phone Number: 9297955263
• Branch Address: Paiga Bazar, SARAN, 841402, Bihar
• Head Office Address (Bihar Gramin Bank): SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number (Punjab National Bank): 18001807777 (This number can be used for general queries as Bihar Gramin Bank operates under PNB’s sponsorship).

FAQs

Q1: What is the full form of IFSC?
A1: IFSC stands for Indian Financial System Code. It’s a unique identifier for bank branches involved in electronic fund transfers.

Q2: Is the IFSC code for Bihar Gramin Bank Paiga Bazar unique?
A2: Yes, the IFSC code PUNB0MBGB06 is unique to the Bihar Gramin Bank, Paiga Bazar branch. No other bank branch in India will have this exact code.

Q3: Can I use an old Uttar Bihar Gramin Bank (UBGB) or Dakshin Bihar Gramin Bank (DBGB) IFSC code for transactions?
A3: No, old UBGB or DBGB IFSC codes are no longer valid. Following the merger, all transactions for Bihar Gramin Bank branches, including Paiga Bazar, must use the unified IFSC code PUNB0MBGB06.

Q4: What should I do if my transaction fails due to an incorrect IFSC?
A4: If your transaction fails because of an incorrect IFSC, the money will usually be reversed to your account within a short period (typically a few hours to a few business days). Always verify the IFSC code carefully before retrying the transaction.

Q5: Where can I find the correct IFSC code?
A5: You can find the correct IFSC code on your bank’s passbook, checkbook, or by visiting the bank’s official website. Reputable financial websites also provide verified IFSC codes.