Coastal Local Area Bank Added to RBI

Document title: Inclusion of Coastal Local Area Bank Limited in the Second Schedule to the Reserve Bank of India Act, 1934

Issuing authority: Reserve Bank of India, Department of Communication

Reference number: Press Release 2026-2027/1040

Date: September 04, 2026

Regulatory and policy measures

The Reserve Bank of India has formally included Coastal Local Area Bank Limited in the Second Schedule of the RBI Act, 1934. This action was taken under Notification DoR.LIC.No.S3539/22-03-070/2026-27, which bears the date July 28, 2026. The notification was subsequently published in the Gazette of India, Part III – Section 4, on August 11, 2026, thereby giving it legal effect. The press release announcing this inclusion was issued on September 4, 2026 and signed by the Chief General Manager, Brij Raj.

The inclusion of the bank in the Second Schedule signifies its recognition under the statutory framework governing scheduled banks, aligning it with regulatory standards applicable to such institutions.

In conclusion, the RBI’s action formalizes the status of Coastal Local Area Bank Limited as a scheduled bank, reflecting regulatory compliance and extending the bank’s operational scope under the Act.