Bihar Gramin Bank Singhara IFSC Code

The Bihar Gramin Bank branch in Singhara, located in Vaishali, Bihar, is a crucial point of contact for financial services in the area. When you need to send or receive money electronically, understanding your bank’s Indian Financial System Code, or IFSC, is essential. This unique code acts like a digital address, ensuring your funds reach the correct bank and branch without error. It’s especially vital for secure and fast transactions through systems like NEFT, RTGS, and IMPS, making financial dealings smooth and reliable.

Branch Details

Bank Name	Bihar Gramin Bank
Branch Name	Singhara
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	100053
Branch Address	Singhara, VAISHALI, 844126
Contact Number	9297955043
City	VAISHALI
District	VAISHALI
Reason	HAJIPUR
Pincode	844126
State	Bihar

Merger Update

While the Singhara branch is listed under Bihar Gramin Bank, its IFSC code, PUNB0MBGB06, indicates a connection to Punjab National Bank (PUNB) as the sponsoring bank and specifically to Madhya Bihar Gramin Bank (MBGB). It’s important to understand that many regional rural banks in Bihar have undergone restructuring.

For instance, some regional rural banks like Uttar Bihar Gramin Bank (UBGB) and Dakshin Bihar Gramin Bank (DBGB) have merged. Following such mergers, their individual IFSC codes were revoked. They now operate under consolidated codes. These new codes are often sponsored by a larger public sector bank, such as Punjab National Bank. Therefore, for any transactions involving these merged entities, only the new, updated IFSC codes are valid. Using an old, revoked IFSC code will lead to transaction failure.

What is an IFSC Code?

The IFSC code is an 11-character alphanumeric code that uniquely identifies every bank branch in India. It’s crucial for electronic fund transfers. Understanding its structure can help you verify the code’s accuracy:

• The first four characters represent the bank name. For PUNB0MBGB06, “PUNB” stands for Punjab National Bank, the sponsor bank.
• The fifth character is always a ‘0’ (zero). This character is reserved for future use and helps distinguish the bank code from the branch code.
• The last six characters identify the specific branch. In PUNB0MBGB06, “MBGB06” points to the specific branch within the Madhya Bihar Gramin Bank network.

This standardized format ensures that every electronic transaction is routed to the correct destination efficiently.

How to Use an IFSC Code

Using an IFSC code for electronic fund transfers like NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), and IMPS (Immediate Payment Service) is straightforward. Here’s a step-by-step guide:

1. Gather Recipient Details: Before starting your transaction, make sure you have the recipient’s full name, bank account number, bank name, and the correct IFSC code for their specific branch.
2. Log In to Your Net Banking or Mobile Banking App: Access your bank’s online platform or mobile application.
3. Select Transfer Option: Look for options like “Fund Transfer,” “NEFT,” “RTGS,” or “IMPS.”
4. Add a Beneficiary: If you’re sending money to this person for the first time, you’ll need to add them as a new beneficiary. This usually involves entering their name, account number, bank name, and the IFSC code.
5. Verify Beneficiary: After adding, your bank might take some time to verify the new beneficiary, especially for security reasons. Once verified, you can proceed.
6. Enter Transfer Details: Specify the amount you want to send and select the beneficiary.
7. Confirm and Transact: Review all the details carefully, then confirm the transaction. You might need to enter an OTP (One-Time Password) for final authorization.

For NEFT and RTGS, transactions are processed in batches or continuously during specific banking hours. IMPS offers instant transfers 24/7, even on holidays.

Benefits of Knowing Your IFSC Code

Having the correct IFSC code at hand offers several important benefits for your financial dealings:

• Accurate Fund Transfers: It ensures that your money reaches the intended recipient’s bank and branch without any errors. This reduces the risk of funds being sent to the wrong account.
• Faster Processing: The unique identification helps banks process electronic transfers quickly, reducing the time it takes for funds to reflect in the recipient’s account.
• Enhanced Security: The standardized system minimizes manual intervention, making electronic transactions more secure and less prone to fraud.
• Convenience: You can initiate transfers from anywhere, anytime, using online banking or mobile apps, without needing to visit a physical bank branch.
• Essential for Online Transactions: Whether you’re paying bills, shopping online, or receiving payments, the IFSC code is a fundamental requirement for most digital financial activities.

Contact Information

For any queries or assistance related to the Bihar Gramin Bank, Singhara branch, or other services, you can use the following contact details:

• Singhara Branch Phone Number: 9297955043
• Singhara Branch Address: Singhara, VAISHALI, 844126, Bihar
• Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

FAQs

Here are some frequently asked questions about IFSC codes and regional rural banks:

What is the IFSC code for Bihar Gramin Bank, Singhara branch?

The IFSC code for the Bihar Gramin Bank, Singhara branch, is PUNB0MBGB06. It’s important to use this exact code for all electronic fund transfers to ensure the transaction is successful.

Can I use an old IFSC code if a regional rural bank has merged?

No, if a regional rural bank has merged with another entity or undergone restructuring, its old IFSC codes are typically revoked and become invalid. You must always use the new, updated IFSC code for the consolidated bank or the new branch code. Using an old code will cause your transaction to fail.

Is the IFSC code different for NEFT, RTGS, and IMPS transactions?

No, the IFSC code remains the same regardless of whether you are performing an NEFT, RTGS, or IMPS transaction. The IFSC code identifies the specific bank branch, and it is universally used across all these electronic fund transfer systems.

What happens if I enter the wrong IFSC code during a transaction?

If you enter an incorrect IFSC code, the transaction will likely fail. The banking system relies on the IFSC code to route funds to the correct branch. If the code doesn’t match a valid branch or doesn’t match the recipient’s bank and account details, the transaction will be rejected, and your funds will typically be returned to your account.

Is the MICR code also important for online money transfers?

While the IFSC code is crucial for online fund transfers like NEFT, RTGS, and IMPS, the MICR (Magnetic Ink Character Recognition) code is mainly used for processing physical cheques. It helps in quickly identifying the bank and branch for cheque clearing purposes. For most digital money transfers, the IFSC code is the primary identifier needed.