Bihar Gramin Bank PESHAUR IFSC Code

Welcome to PESHAUR, a vibrant area in the Nalanda district of Bihar. If you need to send or receive money electronically, understanding a few key details about your bank branch is crucial. The IFSC (Indian Financial System Code) is a unique code that acts like an address for every bank branch participating in online money transfers. It’s essential for modern digital transactions like NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), and IMPS (Immediate Payment Service), ensuring your money reaches the right account quickly and securely.

Branch Details

Bank Name	Bihar Gramin Bank
Branch Name	PESHAUR
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	7188
Branch Address	PESHAUR, Nalanda, 803119, 9771464188
Contact Number	9771464188
City	Nalanda
District	Nalanda
Reason	BIHARSHARIF
Pincode	803119
State	Bihar

Merger Update

The PESHAUR branch, like many other rural bank branches in the region, operates under the framework of Madhya Bihar Gramin Bank, which is sponsored by Punjab National Bank. To streamline banking services and ensure a unified system, all branches of Madhya Bihar Gramin Bank now use a common IFSC code format provided by Punjab National Bank. This means that any older IFSC codes previously assigned to these branches have been retired and are no longer valid for transactions.

For any electronic fund transfers to or from the PESHAUR branch, it is critical to use the currently active and unified IFSC code: PUNB0MBGB06. Attempting to use an old or revoked IFSC code will result in your transaction being rejected, causing delays and inconvenience. Always verify the latest IFSC code before initiating any transfer.

What is an IFSC Code?

The IFSC Code is an 11-character alphanumeric code that uniquely identifies every bank branch in India participating in online money transfers. Think of it as a specific digital address for a bank branch. Understanding its structure can help you verify its authenticity:

• The first four characters represent the bank’s name. For example, “PUNB” stands for Punjab National Bank.
• The fifth character is always a “0” (zero). This digit is reserved for future use and helps maintain uniqueness across the system.
• The last six characters uniquely identify a specific bank branch. In this case, “MBGB06” points to a particular branch of Madhya Bihar Gramin Bank.

This standardized structure ensures that when you enter an IFSC code, your bank’s system can correctly identify the recipient’s bank and specific branch, making sure your funds go to the right place.

How to Use an IFSC Code

Using the IFSC code is a straightforward process when you’re making an online fund transfer. Here’s a step-by-step guide for NEFT, RTGS, or IMPS transactions:

1. Log in to your bank’s online banking portal or mobile app: Access your account using your credentials.
2. Navigate to the Funds Transfer section: Look for options like “NEFT,” “RTGS,” or “IMPS.”
3. Add a new beneficiary: If you haven’t sent money to this account before, you’ll need to add it as a new recipient.
4. Enter beneficiary details:
   • Recipient’s Account Number
   • Recipient’s Name
   • Recipient Bank’s IFSC Code: This is where you enter PUNB0MBGB06 for the PESHAUR branch.
   • Confirm Account Number (usually required for verification)
5. Verify details: Double-check all the information you’ve entered, especially the account number and IFSC code, to avoid errors.
6. Enter the transfer amount: Specify how much money you wish to send.
7. Confirm the transaction: Review the final details and confirm the transfer, often using an OTP (One-Time Password) for security.

Once confirmed, the funds will be transferred to the recipient’s account. The speed of the transfer will depend on whether you chose IMPS (instant), NEFT (batch processing), or RTGS (real-time for large amounts).

Benefits of Knowing Your IFSC Code

Knowing the correct IFSC code for your bank branch offers several practical advantages:

• Facilitates Digital Transfers: It’s essential for sending and receiving money through NEFT, RTGS, and IMPS, making banking more convenient.
• Ensures Accuracy: The unique code ensures that funds are routed to the precise bank and branch, minimizing the risk of errors.
• Faster Transactions: With the correct IFSC, online transfers are processed efficiently, allowing for quicker movement of funds.
• Reduced Manual Effort: Eliminates the need for physical visits to the bank for many types of transfers, saving time and effort.
• Increased Security: The structured nature of the code helps in secure routing of transactions within the banking system.

Contact Information

For any specific inquiries related to the PESHAUR branch:

• Branch Phone Number: 9771464188
• Branch Address: PESHAUR, Nalanda, 803119, Bihar

For broader banking assistance related to Madhya Bihar Gramin Bank (sponsored by Punjab National Bank):

• Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

Frequently Asked Questions

Q1: What happens if I use an old or incorrect IFSC code?

A: If you use an old or incorrect IFSC code, your transaction will likely be rejected by the bank’s system. The funds will usually be returned to your account within a few hours or a business day. It’s crucial to always use the current and correct IFSC code to avoid delays.

Q2: Is the IFSC code unique for every bank branch?

A: Yes, every bank branch participating in electronic funds transfer has a unique 11-character IFSC code. This ensures that money is accurately routed to its intended destination, even if multiple branches share the same name or are in the same city.

Q3: Can I find the IFSC code offline?

A: Yes, you can often find the IFSC code printed on your bank passbook or checkbook. Alternatively, you can visit your bank branch and ask for the code, or call their customer service number.

Q4: What is the difference between an IFSC code and a MICR code?

A: The IFSC (Indian Financial System Code) is used for online electronic fund transfers (NEFT, RTGS, IMPS). The MICR (Magnetic Ink Character Recognition) code is a 9-digit numerical code printed on check leaves, primarily used for clearing physical checks. While both identify a bank branch, they serve different purposes in the banking system.

Q5: Do I need the IFSC code for cash deposits or withdrawals at the branch?

A: No, you typically do not need the IFSC code for cash deposits or withdrawals directly at the bank branch. These transactions are usually handled using your account number and identity verification. The IFSC code is specifically for electronic transfers between different banks or branches.