The Reserve Bank of India has approved the merger of Emirates NBD Bank’s Indian branches with RBL Bank, effective December 1, 2026 (Photo: Reuters)
The Reserve Bank of India (RBI) on Friday approved the Scheme of Amalgamation of the Indian branches of Emirates NBD Bank P.J.S.C. with RBL Bank Limited, effective December 1, 2026.
In June 2026, Emirates NBD completed the acquisition of a majority stake in RBL Bank through a primary capital infusion of about Rs 26,000 crore. Emirates NBD now holds 60 per cent of the expanded share capital of RBL Bank. The board has approved the appointment of five nominee directors of Emirates NBD as additional non-executive, non-independent directors on the bank’s board, effective June 18, 2026, subject to shareholder approval.
The transaction, which was first announced in October 2025, was completed after receiving all regulatory approvals and satisfying closing conditions. The deal constitutes the largest foreign direct investment in the Indian banking sector.
First Published: Oct 16 2026 | 6:15 PM IST
