Bihar Gramin Bank PARWALPUR IFSC Code

If you live in or around PARWALPUR, a locality within the Nalanda district of Bihar, understanding your bank’s IFSC code is key for smooth money transfers. The Indian Financial System Code, or IFSC, acts like a unique digital address for every bank branch in India. It is essential for making safe and efficient online transactions, such as sending money through NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), and IMPS (Immediate Payment Service). Without the correct IFSC, these digital transfers simply cannot happen.

Branch Details

Bank Name	Bihar Gramin Bank
Branch Name	PARWALPUR
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	7187
Branch Address	PARWALPUR, Nalanda, 803114
Contact Number	9771464187
City	Nalanda
District	Nalanda
Reason	BIHARSHARIF
Pincode	803114
State	Bihar

Merger Update

The PARWALPUR branch was originally part of Bihar Gramin Bank. However, in a significant restructuring, Bihar Gramin Bank, along with other Regional Rural Banks in the region, merged to form Madhya Bihar Gramin Bank. This new entity now operates under the sponsorship of Punjab National Bank.

Because of this merger, all previous IFSC codes associated with Bihar Gramin Bank are no longer valid. For any financial transaction related to the PARWALPUR branch or any branch of the former Bihar Gramin Bank, you must use the new, consolidated IFSC code: PUNB0MBGB06. This code ensures that your funds are directed correctly to Madhya Bihar Gramin Bank, sponsored by Punjab National Bank. Using any old IFSC code will result in failed transactions.

What is an IFSC Code?

An IFSC code is an 11-character alphanumeric code. It uniquely identifies every bank branch participating in online money transfers in India. Think of it as a specific postal code for financial transactions.

Here’s how the IFSC code PUNB0MBGB06 breaks down:

• The first four characters represent the bank name. In this case, PUNB stands for Punjab National Bank, which is the sponsoring bank for Madhya Bihar Gramin Bank.
• The fifth character is always a zero (0). This character is kept for future use.
• The last six characters identify the specific branch. Here, MBGB06 uniquely points to the PARWALPUR branch of Madhya Bihar Gramin Bank.

How to Use an IFSC Code

When you need to send money online using NEFT, RTGS, or IMPS, the IFSC code is a crucial piece of information. Here’s a step-by-step guide on how to use it:

1. Log In: Access your bank’s internet banking portal or mobile banking app.
2. Select Transfer Type: Choose the type of transfer you want to make (NEFT, RTGS, or IMPS).
3. Add Beneficiary: If you’re sending money to someone for the first time, you’ll need to add them as a beneficiary.
4. Enter Beneficiary Details:
   • Beneficiary Account Number: The recipient’s bank account number.
   • Beneficiary Name: The full name of the person you are sending money to.
   • Bank Name: Madhya Bihar Gramin Bank.
   • Branch Name: PARWALPUR.
   • IFSC Code: Enter the exact code, PUNB0MBGB06. Double-check for accuracy.
5. Enter Amount: Specify the amount you wish to transfer.
6. Confirm and Transact: Review all the details carefully, then confirm the transaction.

For RTGS transactions, typically large sums are transferred, usually above Rs. 2 lakh. NEFT and IMPS are used for smaller amounts and can be done at any time.

Benefits of Knowing Your IFSC Code

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

• Ensures Correct Transfers: It guarantees that your money reaches the right bank and branch, preventing misdirection of funds.
• Facilitates Online Transactions: It is mandatory for all major online fund transfer systems like NEFT, RTGS, and IMPS, making digital banking possible.
• Speeds Up Transfers: By accurately identifying the destination branch, it helps process transactions quickly and efficiently.
• Enhances Security: The unique identification helps in tracking transactions and adds a layer of security to your financial dealings.
• Simplifies Information: Instead of remembering complex branch details, a single 11-character code is enough to identify a specific branch.

Contact Information

For inquiries or assistance regarding the PARWALPUR branch or Madhya Bihar Gramin Bank, you can use the following contact details:

• Branch Phone Number: 9771464187
• Branch Address: PARWALPUR, Nalanda, 803114, Bihar
• Madhya Bihar Gramin Bank Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

Frequently Asked Questions (FAQs)

What is the IFSC code for Bihar Gramin Bank, PARWALPUR branch?

The correct IFSC code for the PARWALPUR branch, which is now part of Madhya Bihar Gramin Bank, is PUNB0MBGB06.

Why did the IFSC code change for Bihar Gramin Bank?

The IFSC code changed due to a merger. Bihar Gramin Bank merged with other regional rural banks to form Madhya Bihar Gramin Bank. As a result, a new, consolidated IFSC code under the sponsoring bank, Punjab National Bank, was assigned.

Can I still use an old IFSC code for Bihar Gramin Bank?

No, you cannot. All old IFSC codes for Bihar Gramin Bank have been revoked. Any transaction attempted with an old code will fail. You must use the new code, PUNB0MBGB06, for all transfers.

Is the IFSC code mandatory for all bank transfers?

The IFSC code is mandatory for online inter-bank fund transfers within India, specifically for NEFT, RTGS, and IMPS. If you are transferring funds within the same bank or conducting cash transactions, an IFSC code might not be directly required, but it’s always good to know.

How can I verify an IFSC code?

You can verify an IFSC code through your bank’s official website, the Reserve Bank of India (RBI) website, or by contacting your bank’s customer service. Always cross-reference the code to ensure accuracy before making a transaction.