Bihar Gramin Bank SIMARA IFSC Code

The Bihar Gramin Bank branch in SIMARA, located in Patna, Bihar, plays an important role for the local community’s banking needs. When sending or receiving money digitally, a specific code is vital for ensuring your funds reach the correct destination. This code, known as the Indian Financial System Code (IFSC), is essential for secure and efficient electronic fund transfers through systems like NEFT, RTGS, and IMPS. It acts as a unique identifier for each bank branch across India, preventing errors and ensuring your transactions are processed accurately.

Branch Details

Bank Name	Bihar Gramin Bank
Branch Name	SIMARA
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	7547
Branch Address	SIMARA, Patna, 804453
Contact Number	7541807547
City	Patna
District	Patna
Reason	PATNA
Pincode	804453
State	Bihar

Merger Update for Bihar Gramin Bank

You might recall banks like Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB). These banks have since undergone a significant merger. They now operate under the unified name Bihar Gramin Bank. This new entity is sponsored by Punjab National Bank (PNB).

As a result of this merger and sponsorship, Bihar Gramin Bank branches, including the SIMARA branch, now use an IFSC code structure that reflects its affiliation with PNB. For instance, the IFSC code for the SIMARA branch is PUNB0MBGB06. It is crucial to understand that all old IFSC codes belonging to UBGB and DBGB have been revoked. For any electronic fund transfers to or from Bihar Gramin Bank, including the SIMARA branch, you must use the new, valid IFSC codes such as PUNB0MBGB06. Using an old or incorrect code will cause your transaction to fail.

What is an IFSC Code?

The IFSC, or Indian Financial System Code, is a unique 11-character code assigned by the Reserve Bank of India (RBI) to every bank branch involved in online money transfers. This code is crucial for ensuring that electronic transactions like NEFT, RTGS, and IMPS go to the right bank and branch.

The structure of an IFSC code is straightforward:

• The first four characters identify the bank. For example, in PUNB0MBGB06, “PUNB” signifies Punjab National Bank, the sponsoring bank for Bihar Gramin Bank.
• The fifth character is always a “0” (zero). This is kept as a control character for future use.
• The last six characters uniquely identify the specific bank branch. In our example, “MBGB06” points to the SIMARA branch of Bihar Gramin Bank.

How to Use the IFSC Code

Using an IFSC code is a standard part of initiating most online money transfers. Here’s how it generally works for different types of transactions:

• NEFT (National Electronic Funds Transfer): This system processes fund transfers in batches throughout the day. To send money via NEFT, you will need the beneficiary’s name, their account number, the bank’s name, and the correct IFSC code of their branch. You enter these details into your net banking portal or mobile banking app.
• RTGS (Real Time Gross Settlement): RTGS is designed for high-value transactions that are settled individually and immediately. The process is similar to NEFT; you’ll provide the beneficiary’s details, including their bank account number and the IFSC code, to ensure the real-time transfer of funds.
• IMPS (Immediate Payment Service): IMPS offers instant, 24/7 fund transfers, even on holidays. It’s often used for smaller, urgent payments. Again, the IFSC code, along with the beneficiary’s account number or mobile number and MMID (Mobile Money Identifier), is essential to ensure the money reaches the correct person instantly.

In all these cases, the IFSC code acts as a digital address, guiding your funds to the precise branch and account you intend.

Benefits of Knowing Your IFSC Code

Understanding and having the correct IFSC code at hand offers several advantages:

• It ensures your fund transfers are accurate and prevents money from being sent to the wrong branch or bank.
• It speeds up online transactions, as the system can quickly identify the destination bank and branch.
• It is a mandatory requirement for initiating NEFT, RTGS, and IMPS transactions, making online banking possible.
• It helps uniquely identify each specific bank branch, even if multiple branches of the same bank exist in a city.
• It reduces the chances of delays or transaction failures due to incorrect routing information.

Contact Information

• Bihar Gramin Bank, SIMARA Branch Phone No: 7541807547
• Bihar Gramin Bank, SIMARA Branch Address: SIMARA, Patna, 804453
• Bihar Gramin Bank Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX ASOCHAK, PATNA-800030, BIHAR
• Bihar Gramin Bank Toll-Free Number: 18001807777

Frequently Asked Questions (FAQs)

Q1: Is the IFSC code necessary for all bank transfers?

A: The IFSC code is essential for all electronic fund transfers within India, including NEFT, RTGS, and IMPS. It ensures that your money reaches the correct beneficiary bank branch without error.

Q2: What happens if I use an incorrect IFSC code during a transaction?

A: If you use an incorrect IFSC code, your transaction will likely fail or be put on hold. The banking system relies on this code to route funds correctly, so an error will prevent the transfer from completing successfully. The funds will typically be returned to your account if the transaction cannot be processed.

Q3: Where can I find the IFSC code for my bank branch?

A: The IFSC code is usually printed on your bank’s passbook and cheque book. You can also find it on your bank’s official website, through mobile banking apps, or by contacting your branch directly.

Q4: Is the MICR code the same as the IFSC code?

A: No, the MICR (Magnetic Ink Character Recognition) code is different from the IFSC code. The MICR code is a 9-digit code primarily used for processing cheques, typically found at the bottom of a cheque leaf. The IFSC code, an 11-character code, is used for electronic fund transfers.

Q5: Why does Bihar Gramin Bank’s IFSC code start with “PUNB”?

A: Bihar Gramin Bank is a Regional Rural Bank (RRB) sponsored by Punjab National Bank (PNB). As a sponsoring bank, PNB’s identifier (“PUNB”) is incorporated into the IFSC codes of Bihar Gramin Bank branches to indicate this affiliation and help in the routing of electronic transactions.