The ramcarat grenadier anchovy was first formally described as Mystus ramcarati in 1822 by the Scottish naturalist Francis Buchanan-Hamilton with its type locality given as the Botanical Garden of Calcutta, Ganges River estuary, India.

[4] Coilia is classified within the subfamily Coiliinae in the anchovy family Engraulidae within the order Clupeiformes, which also includes the herrings, sardines and shads.

[5] The ramcarat grenadier anchovy is the type species of the genus Coilia, the derivation of this name was not explained by Gray but it is either from a local name for this fish, or, it is derived from the Greek koilia, which means "belly" or "abdomen", and this may refer to the serrated abodomen of this species.

[6] The ramcarat grenadier anchovy has a tapered body which has a rounded belly in front of its pelvic fins.

There are 15 or 16 keeled scutes in a line running from immediately behind the base of the pectoral fins to the anus.