The Bihar Gramin Bank branch in Rashidpur is located in the Begusarai district of Bihar. For anyone needing to send or receive money online through this branch, the Indian Financial System Code (IFSC) is essential. This unique 11-character code identifies the specific bank branch in digital transactions. It ensures that funds sent via National Electronic Funds Transfer (NEFT), Real-Time Gross Settlement (RTGS), or Immediate Payment Service (IMPS) reach the correct account without errors.
Branch Details
| Bank Name | Bihar Gramin Bank |
| Branch Name | Rashidpur |
| IFSC Code | PUNB0MBGB06 |
| MICR Code | 800811002 |
| Branch Code | MBGB06 |
| Branch Address | Rashidpur, Begusarai, 851128, Bihar |
| Contact Number | 7061383143 |
| City | Begusarai |
| District | Begusarai |
| Region | BEGUSARAI |
| Pincode | 851128 |
| State | Bihar |
Merger and IFSC Update
It is important to know that Bihar Gramin Bank was formed by the merger of two former regional rural banks: Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB). As a result of this amalgamation, the old IFSC codes associated with UBGB and DBGB branches are no longer valid. All branches, including Rashidpur, now operate under a new, unified IFSC code structure sponsored by Punjab National Bank (PNB). For any online transaction, you must use the new code, PUNB0MBGB06. Using an old, revoked code will cause your transaction to fail.
What is an IFSC Code?
The IFSC is a unique 11-character alphanumeric code assigned by the Reserve Bank of India (RBI) to every bank branch participating in the electronic funds transfer network. The code has a specific structure that helps identify the bank and its branch.
Let’s break down the IFSC code for the Rashidpur branch, PUNB0MBGB06:
- PUNB: The first four letters represent the sponsor bank, which is Punjab National Bank.
- 0: The fifth character is always a zero. It is a control character reserved for future use.
- MBGB06: The last six characters are the unique identifier for the specific branch. In this case, it identifies the Rashidpur branch of Bihar Gramin Bank.
How to Use the IFSC Code for Fund Transfers
Using the IFSC code for an online money transfer is a straightforward process. Whether you are using a mobile banking app or a web portal, the steps are generally the same.
- Log into your bank’s net banking or mobile banking platform.
- Navigate to the “Fund Transfer” section and choose the payment method: NEFT, RTGS, or IMPS.
- Add the recipient (beneficiary) by entering their details. You will need their name, account number, and the bank’s IFSC code. For the Rashidpur branch, you would enter PUNB0MBGB06.
- Enter the amount you wish to transfer and any remarks.
- Review all the details carefully, especially the account number and IFSC code, before confirming the transaction with your password or OTP.
Benefits of Using the IFSC Code
- Accuracy: It ensures that your money is routed to the exact bank branch you intend, eliminating transfer errors.
- Security: The code acts as a verification layer, reducing the risk of fraudulent transactions by confirming the destination branch.
- Efficiency: It enables automated, high-speed processing for digital payments like NEFT, RTGS, and IMPS.
- Convenience: It is required for setting up automated payments for bills, loan EMIs, and systematic investment plans (SIPs).
Contact Information
For direct assistance, you can contact the branch or the bank’s head office.
- Branch Contact Number: 7061383143
- Branch Address: Rashidpur, Begusarai, Bihar – 851128
- Head Office Address: Bihar Gramin Bank, SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
- Toll-Free Number: 18001807777
Frequently Asked Questions
Why does the Bihar Gramin Bank IFSC code start with ‘PUNB’?
The code starts with ‘PUNB’ because Punjab National Bank (PNB) is the sponsor bank for Bihar Gramin Bank. All financial transactions are routed through PNB’s central payment system, so their identifier is used in the IFSC code.
Can I use an old IFSC code from Uttar Bihar Gramin Bank for the Rashidpur branch?
No. All old IFSC codes from the pre-merger banks (Uttar Bihar Gramin Bank and Dakshin Bihar Gramin Bank) are invalid. You must use the new code, PUNB0MBGB06, for all transactions to be successful.
What happens if I enter the wrong IFSC code?
If you enter an incorrect IFSC code, the transaction will most likely be rejected, and the money will be credited back to your account within a few hours or days. However, if the wrong code corresponds to another valid branch where the beneficiary’s account number also exists, the funds could be misdirected. Always double-check the code before confirming.
What is the difference between an IFSC code and a MICR code?
The IFSC code is used for online fund transfers like NEFT and RTGS. The MICR (Magnetic Ink Character Recognition) code is a 9-digit code found at the bottom of a cheque leaf and is used for the physical processing and clearing of cheques.
Is the IFSC code PUNB0MBGB06 the same for all branches of Bihar Gramin Bank?
No, each branch of Bihar Gramin Bank has its own unique IFSC code. PUNB0MBGB06 is exclusively for the Rashidpur branch. Using it for another branch will result in a failed transaction.
Kritti Kumari is a banker and MBA graduate who writes about banking, finance, and customer-friendly services. She simplifies complex financial products into easy guides, helping readers understand Bihar Gramin Bank’s offerings and make smarter money decisions.