1.

Q.

What is your Bank?  Is it a Cooperative Bank?

A.

The Coastal Local Area Bank Ltd., is a Private Sector Commercial Bank operating in five districts of Andhra Pradesh with operations similar in nature to any other commercial bank.

The bank was registered under Companies Act.1956, as per the license issued by the Reserve Bank of India (RBI).  The bank is under the regulatory supervision of the RBI.  RBI conducts annual financial inspection (AFI) every year and ensures proper conduct of the bank operations as per the regulations.

2.

Q.

How many branches you have?

A.

The bank has been functioning in 5 districts of Andhra Pradesh. They are Guntur, Krishna, West Godavari, East Godavari and Visakhapatnam. As on date the Bank has 50 branches and 10 Business Correspondent centers functioning in these 5 districts. The names of branches, their addresses and phone numbers are furnished in the bank’s website.

3.

Q.

How strong you are?

A.

The strength of a bank is judged by certain important parameters.

  (Rs. in lakhs)       

The Bank over the years has been performing very well with good growth in business and profits and containing the non performing assets.

4.

Q.

How safe it is to deposit money with the bank?

A.

Coastal local area bank ltd is a strong bank, governed by competent and experienced personnel. The bank is functioning on strong fundamentals, with the board approved policies, systems and procedures, complying with the RBI regulations.  The asset (loan) portfolio is strong and safe with adequate collaterals. The portfolio consists of about 22.42% gold loans to total credit and highly satisfactory recovery performance.

The deposits of each individual are insured up to Rs.1.00 lakh, with the Deposit Insurance Corporation (DICGC), which is an extended arm of RBI.

5.

Q.

What rates of interest are being offered on deposits?

A.

The details are furnished in the pamphlet supplied.  The bank is offering the best rates of interest on deposits compared to any other commercial bank operating in these 5 districts.

Further, the Bank is offering 0.5% interest extra for senior citizens (60 years age and above) for the term deposits of 91 days and above.

6.

Q.

But, some cooperative banks are offering better rates of interest on deposits? How?

A.

There is a difference in overall functioning of the Cooperative Banks and Commercial Banks.  The commercial banks are under the total control and regulation of RBI and there are restrictions on lending rates to certain segments like priority sector advances.  Keeping in view all the parameters, including statutory reserves (CRR & SLR), the deposit interest rates are fixed, however in tune with the market trend.

7.

Q.

How the bank can afford to pay higher interest on deposits compared to other commercial banks?

A.

The expenses are controlled and are maintained at a lower level.  The per branch business is high and the NPAs are low.  Thus the bank can pass on the benefit to the depositors by way of higher interest.

8.

Q.

What are your important products?

A.

A. Deposits :

B.  Advances:

9.

Q.

 Are the service charges of your bank high?

A.

 No.  The service charges are generally at par or lower compared to other banks.

10.

Q.

How you are complying with the corporate social responsibilities.

A.

During 2016-17, Bank has contributed Rs.15.00 lakhs, for 

   • Constructing Water Harvesting Pits in dry land villages of Nuzividu Mandal,

   • Conducting Financial Literacy programs, and

   • Making donations for other rural development programs. 

Similarly in previous years, Bank has extended services to about 2000 families affected by HUD HUD Cyclone in the villages of Araku, Chodawaram, Bhimili and Anakapalle villages of Visakhapatnam Mandals, spending Rs. 5.00 lakhs.

11.

Q.

Do you have on line funds transfer facility?

A.

The Bank is supported by “Core Banking Solutions” (CBS).  All the branches are networked and we are able to provide on-line banking facility.  We are having arrangements with Bank of Maharashtra and online transfer is possible to anywhere in India and abroad under various funds transfer methods like NEFT etc.,

12.

Q.

Do you have any ATMs? Are you issuing Debit / Credit Cards?

A.

The Bank has installed 23 ATMs and planned for 8 more ATM's during current financial year. Our ATM / Debit Cards can be used at POS / E-COM / Merchant Sites.

13.

Q.

What is grievance redressal mechanism in your bank?

A.

The Bank is totally manned by officers only.  The staff is empowered with adequate knowledge and there may not be any situation for a grievance. However, each branch is headed by a Manager, who is an experienced officer.  He is available at the branch throughout the business hours for sorting out any grievance of customers.  If the customer is not satisfied with the support or a reply from the branch manager, he/she can approach the appellate authority i.e. General Manager, whose address and contact numbers are displayed in each branch.

14.

Q.

How many employees are working for your bank?

A.

As on 31st March 2017, the bank has 276 employees including substaff. Also we have outsourced BC's & CSD's. The Bank has plans to increase the capable manpower with further increase in business and network.

15.

Q.

Are you a profit making organization?

A.

Yes. The Bank is earning profit every year.  The gross profit for the year ending 2016-17 was Rs.1368 Lakhs.  It is sure to earn more profit during the current year.

16.

Q.

Can you extend loans to all sectors, including real estate?

A.

Yes. The Bank extends loans to all sectors, subject to viability and compliance to standards fixed by the Bank.  Credit policy is in place and all the proposals complying with the standards are considered for sanction.

17.

Q.

For what you stand separately, compared to other banks?

A.

The Bank earned a good name for personalized services to its customers and for its prompt and fast decision making. The important aspect is that the Bank is investing (lending) all its resources (deposits + other available funds) in the 5 districts where it is operating. The Bank stands for development of “OUR AREA”, “OUR CLIENTELE”, “OUR BANK”.

FIRST IN SERVICE                   &                  BEST IN TRUST