Coastal Local Area Bank Limited has been officially included in the Reserve Bank of India's (RBI) Second Schedule, as per a press release dated August 11, 2026.
The Reserve Bank of India (RBI) has made an official announcement regarding the inclusion of Coastal Local Area Bank Limited in its Second Schedule. This decision was published in the Gazette of India (Part III – Section 4) on August 11, 2026, as per a press release with the reference number 2026-2027/1040. The Chief General Manager, Brij Raj, has released this press release detailing that Coastal Local Area Bank Limited has been included in the Second Schedule to the Reserve Bank of India Act, 1934 vide Notification DoR.LIC.No.S3539/22-03-070/2026-27 dated July 28, 2026.
This move is expected to further strengthen the regulatory framework for local area banks in India.
Source:
Reserve Bank of India
