Bihar Gramin Bank Parsa IFSC Code

Welcome to the guide for Bihar Gramin Bank’s Parsa branch. If you need to send or receive money electronically, whether through NEFT, RTGS, or IMPS, understanding the Indian Financial System Code (IFSC) is vital. This unique code ensures your funds reach the correct bank and branch without any issues, making your transactions smooth and secure.

Bihar Gramin Bank Parsa Branch Details

Bank Name	Bihar Gramin Bank
Branch Name	Parsa
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	108018
Branch Address	Parsa, SARAN, 841301, 9297955264
Contact Number	9297955264
City	SARAN
District	SARAN
Reason	CHAPRA
Pincode	841301
State	Bihar

Merger Update for Bihar Gramin Bank

For customers of Bihar Gramin Bank, it is important to understand its evolution. Previously, there were two distinct rural banks: Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB). These two banks merged to form the current Bihar Gramin Bank. Bihar Gramin Bank is sponsored by Punjab National Bank (PNB).

Because of this sponsorship, the IFSC codes for all Bihar Gramin Bank branches, including Parsa, now begin with the PNB prefix. For the Parsa branch, the valid IFSC code is PUNB0MBGB06. It is crucial to note that any old IFSC codes starting with prefixes from the former UBGB or DBGB are no longer valid for transactions. Always use the new, updated IFSC code, PUNB0MBGB06, for all your electronic fund transfers to or from the Bihar Gramin Bank, Parsa branch.

What is an IFSC Code?

The Indian Financial System Code, or IFSC, is a unique 11-character alphanumeric code. It’s used to identify every bank branch in India participating in electronic funds transfers. This code is essential for all online money transfers like NEFT, RTGS, and IMPS.

Let’s break down the IFSC code PUNB0MBGB06 for the Parsa branch:

• The first four characters, “PUNB”, identify the sponsoring bank, which in this case is Punjab National Bank.
• The fifth character is always a “0” (zero). This character is reserved for future use and acts as a placeholder.
• The last six characters, “MBGB06”, uniquely identify the specific branch. “MBGB” signifies Bihar Gramin Bank (the merged entity), and “06” is the specific identifier for the Parsa branch within its system.

How to Use an IFSC Code

Using the IFSC code is a straightforward process when you are making an electronic fund transfer. Here are the general steps:

1. Log In: Access your net banking portal or mobile banking app.
2. Select Transfer Type: Choose the type of transfer you wish to make, such as NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), or IMPS (Immediate Payment Service).
3. Add Beneficiary: If you are sending money to someone for the first time, you will need to add them as a beneficiary.
4. Enter Beneficiary Details: Provide the receiver’s details, which typically include:
   • Beneficiary’s Name
   • Beneficiary’s Account Number (you will usually enter this twice for confirmation)
   • Beneficiary’s Bank Name (Bihar Gramin Bank)
   • Beneficiary’s Branch Name (Parsa)
   • The IFSC Code (PUNB0MBGB06 for the Parsa branch)
5. Enter Amount: Specify the amount you wish to transfer.
6. Confirm and Transact: Review all the details carefully to ensure they are correct, then confirm the transaction.

The IFSC code acts as a digital address, ensuring your money goes directly to the intended bank and branch.

Benefits of Knowing Your IFSC Code

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

• Enables Electronic Transfers: It is mandatory for all online fund transfers via NEFT, RTGS, and IMPS.
• Ensures Accuracy: Guarantees that funds are directed to the precise bank branch, minimizing errors and misdirected transfers.
• Faster Transactions: Speeds up the process of electronic fund transfers, as it automates the routing of money.
• Enhanced Security: Adds a layer of security by uniquely identifying the destination branch, reducing the risk of fraud.
• Facilitates Online Banking: Essential for setting up various online banking services and automatic payments.

Contact Information

Should you need to contact the Bihar Gramin Bank, Parsa branch, or its head office, here are the details:

• Parsa Branch Phone Number: 9297955264
• Parsa Branch Address: Parsa, SARAN, 841301, Bihar
• Bihar Gramin Bank Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

Frequently Asked Questions (FAQs)

Q1: What does IFSC stand for?
A1: IFSC stands for Indian Financial System Code.

Q2: Is the IFSC code unique for every bank branch?
A2: Yes, each bank branch participating in electronic funds transfer has a unique 11-character IFSC code. This ensures that money is always directed to the specific intended branch.

Q3: Why is the fifth character of the IFSC code always zero?
A3: The fifth character is a control character and is currently reserved as ‘0’ (zero) for future use by the Reserve Bank of India.

Q4: What happens if I use an incorrect IFSC code for a transaction?
A4: If you use an incorrect IFSC code, your transaction will likely fail and be rejected by the system. The funds would then be returned to your account. In some rare cases, if the incorrect IFSC code corresponds to another valid branch and the account number also matches a real account at that branch, the money could be transferred there. Always double-check the IFSC code and account number to avoid such issues.

Q5: Can I still use an old Uttar Bihar Gramin Bank (UBGB) or Dakshin Bihar Gramin Bank (DBGB) IFSC code for Bihar Gramin Bank Parsa?
A5: No, you cannot. Following the merger of UBGB and DBGB into Bihar Gramin Bank, and its sponsorship by Punjab National Bank, all old IFSC codes for UBGB and DBGB branches have been revoked. You must use the new, valid IFSC code PUNB0MBGB06 for all transactions related to Bihar Gramin Bank Parsa branch.