Coastal Bank is the first Local Area Bank licensed by Reserve Bank of India in 1999 and commenced its operations from 27th December 1999. The Bank is proud of celebrating its existence for two decades.
Coastal Bank is directly regulated by Reserve Bank of India. The Bank is subjected to regulatory supervision and control. The Bank complies with all supervisory advices/guidance.
The Bank is subjected to regulatory prescriptions such as Cash Reserve Ratio (CRR), Statutory Liquidity Ratio (SLR), External Benchmarking of loans etc.
Deposits of the customers are insured under Deposit and Insurance Scheme of DICGC, a wholly owned subsidiary of Reserve Bank of India.
Shri Suresh Kumar Agrawal, joined the Bank in August, 2021 and is currently the Chief Information Technology Officer. Shri Agrawal, having worked in SBI, is a seasoned banker, with more than 35 years of all-round experience in various fields of banking, like retail banking and mid-corporate lending, Credit Management, Profit-centre Operations, Information Technology – implementation and training and Internal Audit. His assignments in SBI include Head / Dy. General Manager of Burdwan (West Bengal) & Warangal (Telangana) Zones / Administrative Offices of SBI where he was instrumental in leading entire business of operations of around 250 branches of SBI, with an aggregate business of Rs.30,000 crores with a work force of 2,500 to 3,000 during which time he brought in qualitative change in overall operational efficiency, quality of assets and profitability.