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 Mr.Thimmi Chetty Ravee (Independent Director)
Shri Thimmi Chetty Ravee is a practising Chartered Account and carries his vast experience in Accountancy and Small Scale Industries to the Board. He served as a member of Central Statutory Auditors of banks and Director of MDITSSIA Trade and Convention Centre and enjoys long association with MADITSSIA, Madurai District Tiny and Small Scale Industries Association. He was the President, Executive Committee Member of MADITSSIA. He is involved in providing consultation and representation services for Income Tax, Central Excise, Service Tax and other tax matters. He was instrumental in conducting System Design, advisory, development of Accounting & MIS packages for a few clients.