Economy News

Coastal Local Area Bank - Scheduled Bank Status

September 14 , 2026 15 hrs 0 min 60 0

Coastal Local Area Bank Limited was included in the Second Schedule of the Reserve Bank of India Act, 1934, and received Scheduled Bank status through an RBI notification.
The bank is headquartered in Vijayawada, Andhra Pradesh, and has been operating for 26 years.
It currently operates 57 branches across 12 districts.
It recently received RBI approval to expand to Vizianagaram and Prakasam in Andhra Pradesh, and Khammam in Telangana, with 13 additional branches.
Scheduled Bank status will enable it to target new customers and institutional depositors and increase Current Account and Savings Account (CASA) deposits.