The Dakshin Bihar Gramin Bank is one of the Regional Rural Banks in India. Dakshin Bihar Gramin Bank IFSC Code, represented by PUNB0MBGB06, is a crucial identifier for every branch of Dakshin Bihar Gramin Bank across India.
Assigned by the Reserve Bank of India (RBI), this code facilitates electronic fund transfers, making transactions smoother and more efficient for account holders.
IMPORTANCE OF IFSC CODE
The Dakshin Bihar Gramin Bank IFSC Code serves several essential purposes, including:
Unique Identification:
It distinguishes each bank and branch, ensuring accurate routing of funds.
Smooth Fund Transfer:
Enables hassle free transfer of money between bank accounts.
Transaction Monitoring:
Helps RBI monitor and track bank transactions, reducing errors and discrepancies.
FORMAT OF DAKSHIN BIHAR GRAMIN BANK IFSC CODE
The IFSC Code comprises 11 alphanumeric characters:
The first four characters, “PUNB,” denote Dakshin Bihar Gramin Bank.
 The fifth character is always “0.”
 The last six characters, “MBGB06,” represent the specific branch of Dakshin Bihar Gramin Bank.
MICR CODE OF DAKSHIN BIHAR GRAMIN BANK
The Magnetic Ink Character Recognition (MICR) Code is a vital identifier for Dakshin Bihar Gramin Bank branches and can be found on cheque leaves and passbooks.
It consists of a 9digit number and is crucial for secure and expedited cheque processing.
BENEFITS OF MICR CODE
The MICR Code offers several advantages:
Enhanced Security:
MICR characters are readable even if documents are obscured, ensuring high levels of security.
Document Authentication:
It validates the legality and originality of paperbased documents within the banking system.
Faster Processing:
With no manual input required, MICR information processing is swift and minimizes errors.
Â
CONCLUSION ON DAKSHIN BIHAR GRAMIN BANK IFSC CODE
The Dakshin Bihar Gramin Bank IFSC Code and MICR Code play pivotal roles in ensuring smooth, secure, and efficient banking transactions.
As essential identifiers, they streamline fund transfers and contribute to the integrity and reliability of the banking system.