Banking
RBI approves Emirates NBD India branches merger with RBL Bank
16 October 2026 · www.business-standard.com
RBI has approved the amalgamation of Emirates NBD Bank's Indian branches with RBL Bank, effective December 1, 2026. This follows Emirates NBD's acquisition of a 60% stake in RBL Bank through a Rs 26,000 crore capital infusion.
Points to Remember
- RBI approved the Scheme of Amalgamation on Friday, October 16, 2026.
- The amalgamation will take effect from December 1, 2026.
- Emirates NBD acquired a 60% stake in RBL Bank via a Rs 26,000 crore primary capital infusion, completed in June 2026.
- Five Emirates NBD nominee directors were appointed as additional non-executive, non-independent directors on RBL Bank's board, effective June 18, 2026, subject to shareholder approval.
- The transaction was first announced in October 2025 and is the largest foreign direct investment in the Indian banking sector.
Why it matters
This merger will integrate Emirates NBD's Indian operations into RBL Bank, potentially expanding RBL Bank's branch network and customer base. Customers and staff of Emirates NBD's Indian branches may see changes in account services and banking operations as the merger takes effect.
Back to Daily Updates