The RBI has approved the merger of Emirates NBD Bank’s Indian branches with RBL Bank, effective December 1, 2026. The move follows Emirates NBD’s acquisition of a 60% stake in RBL Bank through an investment of approximately ₹26,016 crore.
The Reserve Bank of India (RBI) has approved the amalgamation of the Indian branches of Dubai-based Emirates NBD Bank P.J.S.C. with RBL Bank Limited. The merger will become effective on December 1, 2026, from which date all Indian branches of Emirates NBD will operate as branches of RBL Bank.
The approval follows Emirates NBD’s acquisition of a 60% stake in RBL Bank’s expanded share capital on June 18, 2026. The transaction involved an investment of approximately ₹26,016 crore through the preferential allotment of 92.91 crore fully paid-up equity shares at ₹280 per share.
Earlier, the Finance Ministry had approved Emirates NBD’s proposal to acquire up to a 74% stake in RBL Bank. The latest RBI decision integrates Emirates NBD’s Indian branch operations into RBL Bank’s branch network.
Emirates NBD began its Indian banking operations in Mumbai in July 2017 after receiving RBI approval in 2016. It subsequently established branches in Gurugram and Chennai. The bank has also maintained a representative office in India since March 2000.
The RBI announcement did not specify whether the merger would result in changes to customer services or existing operational arrangements. CASansaar