Bihar Gramin Bank Paterha IFSC Code

Here is a detailed guide on the Bihar Gramin Bank, Paterha branch, and its IFSC code.

Welcome to Paterha, a vibrant area in the Saran district of Bihar. If you live or work here and use Bihar Gramin Bank, understanding your bank’s IFSC code is key for any modern financial transaction. The Indian Financial System Code, or IFSC, is a unique 11-character code essential for sending or receiving money electronically through systems like NEFT, RTGS, and IMPS. It ensures your funds reach the correct bank and branch without error, making banking safe and efficient.

Here are the important details for the Bihar Gramin Bank Paterha branch:

Detail	Information
Bank Name	Bihar Gramin Bank
Branch Name	Paterha
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	100606
Branch Address	Paterha, SARAN, 841418
Contact Number	9297955267
City	SARAN
District	SARAN
Region	CHAPRA
Pincode	841418
State	Bihar

Merger Update

The banking landscape in Bihar has seen significant changes over the years. Many regional rural banks, including former entities like Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB), have been part of merger processes. These mergers aimed to strengthen their operations and provide better service.

Specifically, the Paterha branch, formerly operating under the broader umbrella of Bihar Gramin Bank, now functions as part of the Madhya Bihar Gramin Bank (MBGB). Madhya Bihar Gramin Bank is sponsored by Punjab National Bank (PNB). This means that for all electronic fund transfers to or from the Paterha branch, you must use the IFSC code PUNB0MBGB06.

It is crucial to understand that any old IFSC codes previously associated with Uttar Bihar Gramin Bank, Dakshin Bihar Gramin Bank, or other constituent regional rural banks in Bihar have been revoked. They are no longer valid for transactions. Only the new, unified IFSC code, PUNB0MBGB06, is active and should be used for all your banking needs involving the Paterha branch.

What is an IFSC Code?

An IFSC code stands for Indian Financial System Code. It is an 11-character alphanumeric code assigned by the Reserve Bank of India (RBI) to uniquely identify each bank branch participating in online money transfers. Think of it as a digital address for your bank branch.

The structure of the IFSC code PUNB0MBGB06 provides specific information:

• The first four characters, PUNB, represent the sponsoring bank, which is Punjab National Bank.
• The fifth character is always a zero (0). This character is reserved for future use.
• The last six characters, MBGB06, uniquely identify the specific branch. In this case, ‘MBGB’ refers to Madhya Bihar Gramin Bank, and ’06’ is the Paterha branch’s specific code within that bank.

How to Use an IFSC Code

Knowing the IFSC code is essential for various electronic money transfer methods. Here’s how you use it:

• NEFT (National Electronic Funds Transfer): When you want to send money using NEFT, you’ll need the beneficiary’s bank name, account number, account holder’s name, and the correct IFSC code. For instance, if you’re sending money to a friend’s account at the Paterha branch, you would input their details along with PUNB0MBGB06. The funds are settled in batches throughout the day.
• RTGS (Real Time Gross Settlement): This method is for larger value transactions (usually ₹2 lakh and above) and processes transfers individually and continuously. Similar to NEFT, you provide the beneficiary’s bank, account number, name, and the IFSC code (PUNB0MBGB06) to ensure the immediate transfer of funds.
• IMPS (Immediate Payment Service): IMPS allows for instant, 24/7 fund transfers, even on holidays. When using mobile banking apps or UPI for IMPS, you might need the IFSC code along with the beneficiary’s account number, or sometimes just their mobile number linked to their bank account. If transferring directly via account number, the IFSC PUNB0MBGB06 is mandatory.

Benefits of Knowing Your IFSC Code

Having the correct IFSC code at hand offers several advantages:

• Enables Electronic Transfers: It is the foundation for all online money transfers, making banking faster and more convenient.
• Ensures Correct Beneficiary: The unique code ensures your money goes to the right bank and the right branch, minimizing transfer errors.
• Speeds Up Transactions: Electronic transfers are much quicker than traditional methods like cheques, allowing immediate or same-day access to funds.
• Reduces Manual Errors: By using a standardized code, the chances of human error during manual entry are significantly reduced.
• Essential for Online Banking: Whether you use internet banking or mobile banking apps, the IFSC code is a fundamental requirement for adding beneficiaries and initiating transfers.

Contact Information

For any queries or assistance related to the Paterha branch or Madhya Bihar Gramin Bank:

• Branch Phone Number: 9297955267
• Branch Address: Paterha, SARAN, 841418
• Madhya Bihar Gramin Bank Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number (Punjab National Bank): 18001807777

Frequently Asked Questions (FAQs)

Q1: What is the IFSC code for Bihar Gramin Bank Paterha branch?
A1: The IFSC code for Bihar Gramin Bank Paterha branch is PUNB0MBGB06. This code identifies the branch within Madhya Bihar Gramin Bank, which is sponsored by Punjab National Bank.

Q2: Is the MICR code also important for bank transactions?
A2: Yes, the MICR (Magnetic Ink Character Recognition) code is important, primarily for processing physical cheques. It helps in speeding up the clearing process. The MICR code for Paterha branch is 800811002.

Q3: Can I use an old IFSC code if I still have it for a Bihar Gramin Bank branch?
A3: No, you should not use any old IFSC codes. Due to various mergers and reorganizations of regional rural banks in Bihar, many older IFSC codes have been revoked. Only the new, updated IFSC code PUNB0MBGB06 is valid for transactions to the Paterha branch.

Q4: What information do I need to transfer money to this branch from another bank?
A4: To transfer money electronically (via NEFT, RTGS, or IMPS) to the Paterha branch, you will need the beneficiary’s full name, their account number, the bank’s name (Madhya Bihar Gramin Bank), and the correct IFSC code, which is PUNB0MBGB06.

Q5: Is the Paterha branch directly part of Punjab National Bank?
A5: The Paterha branch is part of Madhya Bihar Gramin Bank. Madhya Bihar Gramin Bank is a Regional Rural Bank (RRB) that is *sponsored* by Punjab National Bank. This means PNB provides managerial and financial support, and the IFSC code reflects this sponsorship with ‘PUNB’ at the beginning, but it operates as a distinct regional rural bank.