We report magnetic interactions and electronic transport properties in La0.4Bi0.6Mn0.5Ti0.5O3 perovskite manganite synthesized using solid-state route. After characterizing the samples structurally, the systematic investigations of magnetic and electrical transport behaviors have been undertaken. It has been observed that at low temperatures near TC, the sample is magnetically frustrated leading to the second-order magnetic transition. A justification for the observed magnetic behavior has been explained based on Arrott's plot study. The resistivity as a function of temperature in the absence and the presence of applied magnetic field suggests semiconducting nature of the sample. The conduction of the charge carriers is explained using Shklovskii-Efros-type variable-range-hopping mechanism.