Bihar Gramin Bank RATANPURA IFSC Code

The Bihar Gramin Bank branch in Ratanpura, Nalanda, plays a crucial role for residents in the area, offering essential banking services. For anyone looking to send or receive money electronically, understanding the Indian Financial System Code (IFSC) is vital. This unique code allows for secure and efficient fund transfers through systems like NEFT, RTGS, and IMPS, ensuring your money reaches the correct bank and branch without issues.

Branch Details

Bank Name	Bihar Gramin Bank
Branch Name	RATANPURA
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	7193
Branch Address	RATANPURA, Nalanda, 801303, 9771464193
Contact Number	9771464193
City	Nalanda
District	Nalanda
Reason	BIHARSHARIF
Pincode	801303
State	Bihar

Merger Update

For customers of Bihar Gramin Bank, it is important to know about a significant change in its structure. Both Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB) have merged to form the single entity now known as Bihar Gramin Bank. As a result of this merger, all branches, including Ratanpura, now operate under a unified IFSC code: PUNB0MBGB06. It is crucial to understand that any old IFSC codes previously used for UBGB or DBGB branches are no longer valid for transactions. To ensure your fund transfers are processed correctly, you must use only the new IFSC code, PUNB0MBGB06, which is sponsored by Punjab National Bank.

What is IFSC Code?

The IFSC Code, or Indian Financial System Code, is an 11-character alphanumeric code. It uniquely identifies every bank branch participating in online fund transfers within India. This code acts like a digital address for each branch. The structure of the IFSC code is specific:

• The first four characters represent the bank’s name. For example, “PUNB” stands for Punjab National Bank, which sponsors Bihar Gramin Bank.
• The fifth character is always zero (0). This character is reserved for future use.
• The last six characters identify the specific branch. For the Ratanpura branch, these six characters are “MBGB06”.

This precise structure helps ensure that money is directed to the correct bank and the exact branch when you make an online transfer.

How to Use IFSC Code

You will need the IFSC code for electronic fund transfers like NEFT, RTGS, and IMPS. Here’s a general guide on how to use it:

1. Gather Beneficiary Details: Before starting a transfer, make sure you have the recipient’s bank account number, account holder’s name, and the correct IFSC code for their branch.
2. Log In to Your Banking Platform: Access your bank’s online banking portal or mobile banking application.
3. Navigate to Fund Transfer: Look for options like “Fund Transfer,” “NEFT,” “RTGS,” or “IMPS.”
4. Add Beneficiary: If you haven’t transferred to this person before, you’ll need to add them as a new beneficiary. This involves entering their name, account number, account type (savings, current), and the IFSC code.
5. Enter Transfer Details: Once the beneficiary is added (or selected if already added), input the amount you wish to send.
6. Review and Confirm: Double-check all details, especially the account number and IFSC code, to prevent errors. Confirm the transaction using your password or PIN.

For NEFT (National Electronic Funds Transfer), funds are processed in batches. RTGS (Real Time Gross Settlement) allows for instant transfers of large amounts. IMPS (Immediate Payment Service) provides instant, 24/7 transfers for smaller amounts. In all these methods, the IFSC code is a mandatory field.

Benefits

Knowing the correct IFSC code for your bank branch is highly beneficial for several reasons:

• It enables secure and fast electronic fund transfers to any bank account in India.
• It helps in making online payments for various services, bills, and purchases.
• It is essential for receiving money directly into your account from other individuals or institutions.
• It reduces the chances of errors during transactions by ensuring money goes to the correct branch.
• It allows you to manage your finances conveniently from anywhere, at any time, through online banking.

Contact

If you need to get in touch with the Bihar Gramin Bank Ratanpura branch or the head office, here are the details:

Branch Phone Number: 9771464193

Branch Address: RATANPURA, Nalanda, 801303

Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR

Toll-Free Number: 18001807777

FAQs

Q1: What is the IFSC code for Bihar Gramin Bank Ratanpura branch?
A1: The IFSC code for Bihar Gramin Bank Ratanpura branch is PUNB0MBGB06.

Q2: Is the MICR code the same as the IFSC code?
A2: No, the MICR code and IFSC code are different. The MICR (Magnetic Ink Character Recognition) code is a 9-digit number mainly used for processing cheques. The IFSC code is an 11-character code for online fund transfers like NEFT, RTGS, and IMPS.

Q3: What happened to the old IFSC codes of Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB)?
A3: Following the merger of UBGB and DBGB into Bihar Gramin Bank, all old IFSC codes belonging to those former entities have been revoked. You must now use the unified IFSC code, PUNB0MBGB06, for all transactions related to Bihar Gramin Bank.

Q4: Can I use the Ratanpura branch’s IFSC code for any other Bihar Gramin Bank branch?
A4: No, each branch of Bihar Gramin Bank has its unique IFSC code (though the initial bank-identifying part “PUNB0” will be common). While some codes might seem similar for branches within the same bank, the last six characters are specific to a particular branch. Always use the exact IFSC code for the beneficiary’s specific branch.

Q5: What should I do if my online transfer fails due to an incorrect IFSC code?
A5: If a transfer fails because of an incorrect IFSC code, the money is usually reversed to your account within a few hours or business days. It’s important to always verify the IFSC code with the beneficiary or through the bank’s official website before initiating a transfer to avoid such issues.