Bihar Gramin Bank SISWAN IFSC Code

Bihar Gramin Bank SISWAN IFSC Code

The Bihar Gramin Bank branch in SISWAN, located in Nawada, Bihar, is an important financial hub for the local community. To ensure smooth and secure electronic fund transfers, understanding the Indian Financial System Code (IFSC) for this branch is essential. Whether you’re sending money via NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), or IMPS (Immediate Payment Service), the correct IFSC code ensures your funds reach the intended recipient without delay.

Branch Details

Bank Name	Bihar Gramin Bank
Branch Name	SISWAN
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	7303
Branch Address	SISWAN, Nawada, 805110, 9771464303
Contact Number	9771464303
City	Nawada
District	Nawada
Reason	NAWADA
Pincode	805110
State	Bihar

Merger Update for Bihar Gramin Bank

Bihar Gramin Bank is a Regional Rural Bank (RRB) sponsored by Punjab National Bank (PNB). Due to various mergers and restructuring initiatives within the regional rural banking sector, specific IFSC codes have been unified and standardized. The provided IFSC code, PUNB0MBGB06, is part of this standardization under the sponsorship of Punjab National Bank.

This code format, particularly “PUNB0,” indicates its affiliation with Punjab National Bank, while “MBGB” traditionally refers to Madhya Bihar Gramin Bank, an entity that merged to form the current Bihar Gramin Bank. This means that old or previously used IFSC codes for branches that are now part of Bihar Gramin Bank may no longer be valid for transactions. It is critical to use only the updated and correct IFSC code, such as PUNB0MBGB06, for all electronic fund transfers to ensure your transactions are processed successfully.

What is an IFSC Code?

An IFSC code, or Indian Financial System Code, is an 11-character alphanumeric code. It uniquely identifies every bank branch in India that participates in online money transfers. You can think of it as a specific digital address for a bank branch. The main purpose of the IFSC code is to guide your funds to the correct destination branch when you make an electronic transfer.

The structure of an IFSC code is standard across all banks:

• The first four characters represent the bank name. For example, in PUNB0MBGB06, “PUNB” signifies Punjab National Bank, the sponsoring bank for Bihar Gramin Bank.
• The fifth character is always a zero (0). This character is reserved for future use.
• The last six characters identify the specific branch. In PUNB0MBGB06, “MBGB06” uniquely points to the SISWAN branch of Bihar Gramin Bank within its network.

How to Use the IFSC Code for Fund Transfers

Using the IFSC code for online money transfers is a common banking practice. Here’s a step-by-step guide for NEFT, RTGS, and IMPS transactions:

For NEFT (National Electronic Funds Transfer)

NEFT is a popular system for transferring money electronically across banks in India. Transactions are usually processed in batches.

1. Log in to your bank’s internet banking portal or mobile banking application.
2. Go to the “Fund Transfer” or “Payments” section.
3. Select “NEFT” as your chosen transfer type.
4. Add a new beneficiary or select an existing one from your list.
5. Carefully enter the beneficiary’s details:
• Beneficiary Name
• Beneficiary Account Number (double-check for accuracy)
• Confirm Beneficiary Account Number
• Bank Name: Bihar Gramin Bank
• IFSC Code: PUNB0MBGB06
6. Enter the amount you wish to transfer.
7. Provide a remark or purpose for the transfer (e.g., “Family support,” “Business payment”).
8. Review all the entered details one last time and then confirm the transaction.

For RTGS (Real Time Gross Settlement)

RTGS is primarily used for large-value transactions. Funds are transferred in real-time on a gross basis, meaning each transaction is processed individually and without delay.

1. Log in to your bank’s internet banking portal or mobile banking application.
2. Navigate to the “Fund Transfer” or “Payments” section.
3. Choose “RTGS” as the transfer type.
4. Add a new beneficiary or select from your saved list.
5. Enter the beneficiary’s details:
• Beneficiary Name
• Beneficiary Account Number (verify twice)
• Confirm Beneficiary Account Number
• Bank Name: Bihar Gramin Bank
• IFSC Code: PUNB0MBGB06
6. Enter the amount you wish to transfer. Remember, RTGS usually has a minimum transfer amount, typically Rs. 2 lakh.
7. Add a remark or purpose for the transfer.
8. Review all details and confirm the transaction.

For IMPS (Immediate Payment Service)

IMPS allows for instant, 24/7 interbank electronic fund transfers. It can be accessed through mobile banking, internet banking, or ATMs.

1. Log in to your bank’s internet banking portal or mobile banking application.
2. Go to the “Fund Transfer” or “Payments” section.
3. Select “IMPS” as the transfer type.
4. You can initiate the transfer using either of these methods:
• Using Account Number + IFSC:
• Beneficiary Account Number (confirm twice)
• IFSC Code: PUNB0MBGB06
• Using Mobile Number + MMID (Mobile Money Identifier):
• Beneficiary Mobile Number
• Beneficiary MMID
5. Enter the amount to be transferred.
6. Add a remark or purpose.
7. Review the details and confirm the transaction.

Benefits of Knowing the IFSC Code

Having the correct IFSC code for the Bihar Gramin Bank, SISWAN branch, provides several important benefits for your banking activities:

• Ensures Transaction Accuracy: It helps direct your funds to the exact bank branch, significantly reducing the chances of errors or misdirected transfers.
• Enables Online Transfers: The IFSC code is mandatory for all digital fund transfers such as NEFT, RTGS, and IMPS, making online banking convenient and accessible.
• Speeds Up Fund Movement: By providing a unique identifier for the branch, the IFSC code helps banks process your electronic transactions quickly and efficiently.
• Enhances Security: Using the precise IFSC code adds an important layer of security, helping to prevent funds from being sent to unintended accounts.
• Facilitates Various Financial Services: Many online payment platforms, e-commerce sites, and bill payment services require an IFSC code for direct bank account transfers.

Contact Information

Should you have any questions or require assistance related to your account or transactions with Bihar Gramin Bank, SISWAN branch, please use the following contact details:

• Branch Phone Number: 9771464303
• Branch Address: SISWAN, Nawada, 805110, Bihar
• Bihar Gramin Bank Head Office Address: SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number: 18001807777

Frequently Asked Questions (FAQs)

What is the full form of IFSC?

IFSC stands for Indian Financial System Code. It is a unique 11-character code used for electronic fund transfers in India.

Is the IFSC code for every branch the same?

No, the IFSC code is unique for each individual bank branch that participates in electronic fund transfers. While the first four characters (bank code) are the same for all branches of a particular bank, the last six characters (branch code) will always be different for each specific branch.

Do I need an IFSC code for cash deposits?

No, an IFSC code is not required for cash deposits made directly at a bank branch counter or through a Cash Deposit Machine (CDM). It is only necessary for electronic fund transfers such as NEFT, RTGS, and IMPS.

What happens if I use an incorrect IFSC code?

If you use an incorrect IFSC code, your transaction will likely fail and the funds will not be transferred. In some rare cases, if the incorrect code happens to belong to another valid branch, the funds might be transferred to the wrong account. Always double-check both the IFSC code and the beneficiary’s account number before confirming any transaction.

Can I find the IFSC code on my passbook or cheque book?

Yes, the IFSC code is typically printed on the first page of your bank passbook. You can also find it clearly printed on the top left corner of each leaf in your cheque book. Additionally, banks provide this information on their official websites and through their mobile banking applications.

What is the minimum amount for an RTGS transfer?

For RTGS transactions, the minimum amount that can be transferred is Rs. 2,00,000 (Two Lakh Rupees). There is no upper limit for RTGS transactions set by the Reserve Bank of India, though individual banks might have their own daily transaction limits.