Emirates NBD Indian branches to merge with RBL Bank

The Reserve Bank of India (RBI) has sanctioned the merger of Emirates NBD’s Indian branches with RBL Bank, effective December 1, 2026. Under the approved scheme, the branches located in Mumbai, Chennai, and Gurugram will transition to operating as RBL Bank branches.

This amalgamation follows Emirates NBD’s acquisition of a 60% majority stake in RBL Bank, which was completed on June 18, 2026. The acquisition involved a primary capital infusion of approximately $2.75 billion (₹26,000 crore). The transaction is noted as the largest foreign direct investment in the Indian banking sector and the largest equity fundraise in the sector.

The merger, sanctioned under the Banking Regulation Act of 1949, aims to strengthen RBL Bank’s balance sheet and capital adequacy to support long-term growth. The deal marks the first instance of a foreign bank acquiring a majority stake in a profitable Indian bank.