If you need to send or receive money at the Bihar Gramin Bank branch in Sarari, SIWAN, Bihar, understanding its IFSC (Indian Financial System Code) is key. This unique code is essential for all electronic money transfers, including NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), and IMPS (Immediate Payment Service). It ensures your funds reach the correct bank and branch without any issues.
Branch Details
Here are the specific details for the Bihar Gramin Bank branch in Sarari:
| Bank Name | Bihar Gramin Bank (now Madhya Bihar Gramin Bank) |
| Branch Name | Sarari |
| IFSC Code | PUNB0MBGB06 |
| MICR Code | 800811002 |
| Branch Code | 108138 |
| Branch Address | Sarari, SIWAN, 841439 |
| Contact Number | 9297954447 |
| City | SIWAN |
| District | SIWAN |
| Pincode | 841439 |
| State | Bihar |
Merger Update
The banking landscape in Bihar has seen some significant changes. Bihar Gramin Bank, along with Kosi Kshetriya Gramin Bank, merged to form Madhya Bihar Gramin Bank (MBGB). This new entity is sponsored by Punjab National Bank.
As a result of this merger, all branches that previously belonged to Bihar Gramin Bank (or Kosi Kshetriya Gramin Bank) now operate under Madhya Bihar Gramin Bank. This means that old IFSC codes associated with Bihar Gramin Bank or Kosi Kshetriya Gramin Bank have been revoked and are no longer valid for transactions. For any fund transfers to the Sarari branch, you must use the new and valid IFSC code: PUNB0MBGB06.
Always ensure you are using the correct and updated IFSC code for all your electronic financial transactions to avoid any delays or failed transfers.
What is IFSC Code?
An IFSC (Indian Financial System Code) is an 11-character alphanumeric code used to identify specific bank branches in India. It’s designed to streamline electronic fund transfers.
The code follows a specific structure:
- The first four characters represent the bank name. For example, “PUNB” in PUNB0MBGB06 stands for Punjab National Bank, the sponsoring bank for Madhya Bihar Gramin Bank.
- The fifth character is always ‘0’ (zero). This is a control character reserved for future use.
- The last six characters identify the specific branch. In the case of PUNB0MBGB06, “MBGB06” denotes the Madhya Bihar Gramin Bank and its particular branch code.
This unique combination ensures that every electronic transaction is accurately directed to the intended bank and branch.
How to Use IFSC Code
Using the IFSC code is a straightforward process when you want to send money electronically. Here’s how it works for different types of transfers:
- For NEFT (National Electronic Funds Transfer): When initiating an NEFT transfer through your bank’s online portal or mobile app, you will need to enter the beneficiary’s bank name, account number, and the correct IFSC code (PUNB0MBGB06 for Sarari branch). This system batches transactions and processes them at specific times during the day.
- For RTGS (Real Time Gross Settlement): If you are sending a large sum of money (typically above ₹2 Lakhs), RTGS allows for immediate, one-to-one fund transfer. Similar to NEFT, you will input the beneficiary’s bank name, account number, and the IFSC code. The transaction is settled in real-time.
- For IMPS (Immediate Payment Service): IMPS offers instant, 24/7 fund transfers, even on holidays. For IMPS, you usually need the beneficiary’s mobile number and MMID (Mobile Money Identifier), or their account number and IFSC code. When using account number and IFSC, you will provide PUNB0MBGB06 for the Sarari branch.
Always double-check the IFSC code, account number, and beneficiary name before confirming any transaction to prevent funds from being sent to the wrong recipient.
Benefits of Knowing Your IFSC Code
Knowing the correct IFSC code for your bank and branch offers several practical advantages:
- Enables Electronic Transfers: It is mandatory for all NEFT, RTGS, and IMPS transactions, allowing you to send or receive money electronically from anywhere in India.
- Ensures Accuracy: The unique code precisely identifies the recipient’s bank and branch, minimizing errors and ensuring funds reach the correct destination.
- Faster Processing: Correct IFSC codes help banks process your transactions quickly and efficiently, reducing delays in fund transfers.
- Convenience: With the IFSC, you can conduct banking operations like salary transfers, bill payments, and online shopping payments seamlessly from your home.
- Security: It adds a layer of security to transactions by ensuring that funds are routed through recognized banking channels.
Contact Information
If you need to get in touch with the bank, here are the relevant contact details:
- Sarari Branch Phone Number: 9297954447
- Sarari Branch Address: Sarari, SIWAN, 841439, Bihar
- Head Office Address (Madhya Bihar Gramin Bank): SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
- Toll-Free Number (Punjab National Bank Customer Care, for Madhya Bihar Gramin Bank): 18001807777
FAQs
What is Madhya Bihar Gramin Bank (MBGB)?
Madhya Bihar Gramin Bank (MBGB) is a Regional Rural Bank that was formed by the merger of Bihar Gramin Bank and Kosi Kshetriya Gramin Bank. It is sponsored by Punjab National Bank.
Why did the IFSC code for Bihar Gramin Bank Sarari change?
The IFSC code changed due to the merger of Bihar Gramin Bank into Madhya Bihar Gramin Bank. All branches now use a unified IFSC code structure under the sponsoring bank, Punjab National Bank.
Can I still use the old Bihar Gramin Bank IFSC code for transactions?
No, the old IFSC codes for Bihar Gramin Bank are no longer valid. You must use the new IFSC code, PUNB0MBGB06, for all electronic fund transfers to the Sarari branch.
Is the Sarari branch still operational after the merger?
Yes, the Sarari branch continues to be operational. It now functions as a branch of Madhya Bihar Gramin Bank, maintaining the same location and services, but under the new banking structure and IFSC code.
What if I accidentally use the old IFSC code for a transfer?
If you use an old or incorrect IFSC code, your electronic fund transfer will likely be rejected by the banking system. The funds will usually be returned to your account within a few business days. It’s crucial to always verify the IFSC code before initiating a transaction to avoid such delays.
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.