RBI Approves Merger of Emirates NBD’s Indian Branches With RBL Bank Effective December 1
MUMBAI — The Reserve Bank of India (RBI) has approved the merger of Emirates NBD Bank’s Indian branches with RBL Bank, clearing the way for the Dubai-based lender to integrate its operations in India following its multibillion-dollar investment in the private-sector bank.
The merger will take effect December 1, 2026, the central bank announced Friday.
“All the Indian branches of Emirates NBD Bank P.J.S.C. will function as branches of RBL Bank Limited with effect from December 1, 2026,” the RBI said in a statement.
The approval marks another step in Emirates NBD’s expansion into India’s banking sector following its acquisition of a controlling stake in RBL Bank earlier this year.
In May, India’s Finance Ministry approved Emirates NBD’s acquisition of up to 74% of RBL Bank.
The Dubai-based lender subsequently completed the acquisition of a majority stake in June through a capital infusion of approximately 260 billion rupees ($3.1 billion), making it one of the largest foreign direct investments in India’s banking industry.
Emirates NBD currently holds 60% of RBL Bank’s expanded share capital.
As part of the transaction, RBL Bank’s board approved the appointment of five Emirates NBD nominees as additional non-executive, non-independent directors, effective June 18, subject to shareholder approval.
The investment agreement was initially announced in October 2025 and completed after receiving the necessary regulatory clearances and fulfilling closing conditions.
The Competition Commission of India approved the proposed combination in January 2026, while other required government and regulatory approvals were secured by May.
The integration covers Emirates NBD’s three Indian branches in Mumbai, Chennai and Gurugram, which will become part of RBL Bank’s branch network under the approved merger.
Emirates NBD has maintained a presence in India for more than two decades, initially establishing a representative office in March 2000.
The bank received RBI approval to open its first Indian branch in Mumbai in 2016 and formally began banking operations in the country in July 2017.
It subsequently expanded its network by opening additional branches in Gurugram and Chennai.
The merger consolidates Emirates NBD’s existing Indian banking operations under RBL Bank as the Dubai-based financial institution expands its presence in one of Asia’s largest banking markets. (Source: IANS)
