Bihar Gramin Bank Tajpur IFSC Code

The Bihar Gramin Bank branch in Tajpur, Samastipur, Bihar, serves as a crucial financial hub for the local community. Understanding its Indian Financial System Code (IFSC) is essential for anyone looking to conduct secure and efficient money transfers. Whether you’re sending money through National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS), or Immediate Payment Service (IMPS), the correct IFSC code ensures your funds reach the intended recipient without delay or error.

Branch Details

Bank Name	Bihar Gramin Bank
Branch Name	Tajpur
IFSC Code	PUNB0MBGB06
MICR Code	800811002
Branch Code	3914
Branch Address	Tajpur, Samastipur, 848130, 9955997816
Contact Number	9955997816
City	Samastipur
District	Samastipur
Reason	SAMASTIPUR
Pincode	848130
State	Bihar

Merger Update

The financial landscape in Bihar has seen significant consolidation among its regional rural banks. The Bihar Gramin Bank, under which the Tajpur branch operates, is part of the Madhya Bihar Gramin Bank entity. This entity is sponsored by Punjab National Bank, reflecting a broader strategy by the Reserve Bank of India to strengthen regional rural banks through mergers. Madhya Bihar Gramin Bank itself was formed by the merger of several older regional rural banks, including the original Bihar Gramin Bank.

This consolidation means that many previous branch codes and bank names have been streamlined. For any transactions, it is absolutely vital to use the current and correct IFSC code, PUNB0MBGB06. All old IFSC codes associated with former entities of the merged banks are now invalid. Using an old or incorrect code will cause your fund transfer to fail.

What is an IFSC Code?

The IFSC, or Indian Financial System Code, is a unique 11-character alphanumeric code used to identify every bank branch in India. It is crucial for electronic fund transfers like NEFT, RTGS, and IMPS. The structure of the IFSC code is specific:

• The first four characters represent the bank name. For PUNB0MBGB06, PUNB identifies Punjab National Bank, which is the sponsor bank for Madhya Bihar Gramin Bank.
• The fifth character is always a ‘0’ (zero). This character is reserved for future use and acts as a control character.
• The last six characters identify the specific branch. In PUNB0MBGB06, MBGB06 points to the Tajpur branch within the Madhya Bihar Gramin Bank system.

How to Use the IFSC Code

Using the correct IFSC code is simple when you are making electronic fund transfers:

• For NEFT (National Electronic Funds Transfer): When initiating an NEFT transaction, you will need the beneficiary’s account number, account holder’s name, and the correct IFSC code for their bank branch. The bank uses this IFSC to route the money to the right destination. NEFT operates in batches, so funds are typically credited within a few hours.
• For RTGS (Real Time Gross Settlement): RTGS is used for large-value transactions, typically for amounts of 2 lakh rupees or more. Similar to NEFT, you need the beneficiary’s account details and the precise IFSC code. RTGS transactions are processed individually and immediately, ensuring faster transfer of large sums.
• For IMPS (Immediate Payment Service): IMPS allows for instant money transfer 24/7, including holidays. You can use it via mobile banking or internet banking. You’ll enter the beneficiary’s mobile number and MMID (Mobile Money Identifier) or their account number and IFSC code. The IFSC code ensures the money goes directly to the correct bank and branch.

Benefits of Knowing Your IFSC Code

Having the correct IFSC code readily available offers several key advantages:

• Ensures accurate and error-free fund transfers.
• Speeds up the process of sending and receiving money electronically.
• Prevents delays and potential reversals of transactions due to incorrect branch identification.
• Facilitates seamless online banking and mobile banking services.
• Confirms the authenticity of a bank branch for various financial activities.

Contact Information

For assistance or further inquiries related to the Tajpur branch or Madhya Bihar Gramin Bank, you can use the following contact details:

• Branch Phone Number: 9955997816
• Branch Address: Tajpur, Samastipur, 848130
• Head Office Address (Madhya Bihar Gramin Bank): SHRI VISHNU COMMERCIAL COMPLEX, ASOCHAK, PATNA-800030, BIHAR
• Toll-Free Number (Punjab National Bank customer care, for sponsor bank related queries): 18001807777

Frequently Asked Questions

Q: What is the primary purpose of an IFSC code?

A: The IFSC code primarily identifies a specific bank branch for electronic fund transfers. It ensures that money sent via NEFT, RTGS, or IMPS reaches the correct beneficiary bank and branch in India.

Q: Is the IFSC code mandatory for all bank transactions?

A: No, it’s not mandatory for all transactions. However, it is absolutely essential for any electronic fund transfers like NEFT, RTGS, or IMPS. For cash deposits or withdrawals directly at a branch, an IFSC is not required.

Q: Can I use an old IFSC code if my bank branch has merged or changed its name?

A: No, you must always use the most current and valid IFSC code. If your bank branch has undergone a merger or name change, its old IFSC code will likely be revoked. Using an outdated code will result in transaction failure.

Q: How can I find the correct IFSC code for any branch?

A: You can find the correct IFSC code on your bank’s passbook or cheque book. Many banks also list their IFSC codes on their official websites. You can also use online IFSC code search tools provided by reliable financial portals or the Reserve Bank of India.

Q: What is the difference between an IFSC code and a MICR code?

A: An IFSC code identifies a bank branch for electronic fund transfers. A MICR (Magnetic Ink Character Recognition) code is a 9-digit numerical code printed on cheques, primarily used for clearing physical cheques quickly and efficiently. Both are unique identifiers but serve different purposes.