Welcome to the guide for the Bihar Gramin Bank branch located in Shivajeenagar, Samastipur, Bihar. Understanding your bank’s Indian Financial System Code (IFSC) is crucial for smooth and secure electronic fund transfers. This unique code is essential for sending or receiving money through systems like National Electronic Funds Transfer (NEFT), Real-Time Gross Settlement (RTGS), and Immediate Payment Service (IMPS). Without the correct IFSC, your bank transactions cannot be processed electronically.
Branch Details Table
| Detail | Information |
|---|---|
| Bank Name | Bihar Gramin Bank |
| Branch Name | Shivajeenagar |
| IFSC Code | PUNB0MBGB06 |
| MICR Code | 800811002 |
| Branch Code | 3939 |
| Branch Address | Shivajeenagar, Samastipur, 848117 |
| Contact Number | 9955997845 |
| City | Samastipur |
| District | Samastipur |
| Pincode | 848117 |
| State | Bihar |
Merger Update
The Shivajeenagar branch, previously under Bihar Gramin Bank, now operates as part of Madhya Bihar Gramin Bank (MBGB). This change is due to the merger of several regional rural banks in Bihar. Madhya Bihar Gramin Bank itself was formed from the consolidation of various regional rural banks, including the erstwhile Bihar Gramin Bank, and is sponsored by Punjab National Bank. This means that all banking operations for the Shivajeenagar branch are now carried out under the umbrella of Madhya Bihar Gramin Bank.
It is very important to use the current IFSC code, PUNB0MBGB06, for all your transactions involving this branch. Any old IFSC codes that were previously associated with Bihar Gramin Bank for this branch are no longer valid. Using an outdated code will cause your electronic fund transfers to fail.
What is an IFSC Code?
The IFSC Code stands for the Indian Financial System Code. It is a unique 11-character alphanumeric code assigned by the Reserve Bank of India (RBI) to identify all bank branches that participate in electronic funds transfer. Think of it as a unique address for each bank branch in India.
The 11 characters of an IFSC code are structured in a specific way:
- The first four characters are alphabetic and represent the bank name. For the Shivajeenagar branch’s IFSC, PUNB stands for Punjab National Bank, the sponsoring bank for Madhya Bihar Gramin Bank.
- The fifth character is always a zero (0). This character is reserved for future use.
- The last six characters are alphanumeric and identify the specific branch. In PUNB0MBGB06, the characters MBGB06 uniquely identify the Shivajeenagar branch of Madhya Bihar Gramin Bank.
This unique code ensures that your funds are transferred to the correct bank and the exact branch you intend.
How to Use an IFSC Code
Using the IFSC code is a straightforward process when you are making or receiving electronic fund transfers:
- Gather Beneficiary Details: Before initiating a transfer, you will need the beneficiary’s (the person receiving the money) full name, their bank account number, and the correct IFSC code for their bank branch.
- Log In to Your Banking Platform: Access your online banking portal, mobile banking app, or visit your bank branch to fill out an NEFT/RTGS/IMPS form.
- Select Transfer Type: Choose the type of transfer you wish to make:
- NEFT (National Electronic Funds Transfer): This is a deferred net settlement system, meaning transactions are processed in batches. It’s suitable for most transfers, with no minimum or maximum amount limits.
- RTGS (Real-Time Gross Settlement): This is a real-time transfer system, primarily for large-value transactions. The minimum amount for an RTGS transaction is usually Rs. 2 lakh. Funds are settled individually and instantly.
- IMPS (Immediate Payment Service): This is an instant, 24/7 interbank electronic fund transfer service available through mobile phones, internet banking, and ATMs.
- Enter Beneficiary Information: Carefully input the beneficiary’s name, their bank account number, and the IFSC code (in this case, PUNB0MBGB06 for Shivajeenagar branch accounts). Your banking system will usually validate the IFSC code and show the bank and branch name once entered.
- Enter Amount and Confirm: Specify the amount you wish to transfer and confirm all the details before authorizing the transaction. Always double-check to avoid errors.
Once confirmed, the funds will be transferred to the specified account. For NEFT and RTGS, you will receive a confirmation message or email.
Benefits of Knowing Your IFSC Code
Knowing the correct IFSC code for your bank branch offers several key advantages:
- Enables Electronic Transfers: It is absolutely essential for making and receiving funds through NEFT, RTGS, and IMPS, facilitating fast and secure money movement.
- Unique Branch Identification: The IFSC code uniquely identifies your specific bank branch, ensuring that your funds reach the intended destination without confusion, even among branches of the same bank.
- Reduces Errors: By providing a precise identifier, it minimizes the chances of funds being credited to the wrong account or branch.
- Supports Digital Banking: It is a cornerstone of modern digital banking, allowing you to perform transactions conveniently from your home or on the go using online and mobile banking platforms.
- Nationwide Reach: It connects your branch to the entire Indian banking network, allowing you to transfer funds to and from almost any other bank branch in the country.
Contact Information
- Branch Phone Number (Shivajeenagar): 9955997845
- Branch Address (Shivajeenagar): Shivajeenagar, Samastipur, 848117, Bihar
- Head Office Address (Madhya Bihar Gramin Bank): SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
- Toll-Free Number (Madhya Bihar Gramin Bank): 18001807777
FAQs
Here are some common questions about IFSC codes:
Q1: What happens if I use an old or incorrect IFSC code for a transfer?
A1: If you use an old or incorrect IFSC code, your electronic fund transfer will most likely fail. The banking system will detect that the code does not match a valid branch, and the transaction will be rejected. This can cause delays in your payment. Always verify the current IFSC code before initiating a transfer, especially after bank mergers or name changes.
Q2: Is the IFSC code the same for all branches of Madhya Bihar Gramin Bank?
A2: No, the IFSC code is unique for each individual bank branch, even if they belong to the same bank. While the first four characters representing the bank (PUNB) and the fifth character (0) might be the same, the last six characters will be different to identify each specific branch, such as MBGB06 for Shivajeenagar.
Q3: Where can I find the correct IFSC code for my bank branch?
A3: You can find the IFSC code on your bank’s cheque book, passbook, or account statement. It is also prominently displayed on your bank’s official website or mobile banking app. You can also find it on the Reserve Bank of India (RBI) website or reliable financial portals.
Q4: Do I need an IFSC code for cash deposits or withdrawals at my branch?
A4: No, you typically do not need an IFSC code for making cash deposits or withdrawals directly at your own bank branch. The IFSC code is specifically required for electronic fund transfers between different banks or different branches of the same bank.
Q5: Can I use an IFSC code to transfer money internationally?
A5: No, the IFSC code is designed for domestic electronic fund transfers within India only. For international money transfers, you would typically need a SWIFT Code (Society for Worldwide Interbank Financial Telecommunication) or BIC (Bank Identifier Code) for the beneficiary’s bank, along with other international banking details.
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.