The Reserve Bank of India (RBI) has approved the merger of Emirates NBD Bank P.J.S.C.’s Indian branches with RBL Bank Ltd, effective from December 1, 2026. This consolidation follows Emirates NBD’s acquisition of a majority stake in RBL Bank in June 2026, marking a significant step in the UAE-based bank’s expansion in India, according to livemint.com.
The RBI granted approval under Section 44A(4) of the Banking Regulation Act, 1949, sanctioning the scheme of amalgamation. Emirates NBD completed its acquisition of a 60% stake in RBL Bank on June 18, 2026, through a primary capital infusion of approximately $2.75 billion (₹26,000 crore). The merger will see all Indian branches of Emirates NBD operate as branches of RBL Bank from the effective date, the RBI announcement on October 16 detailed.
This merger is part of a broader transaction first announced in October 2025, aimed at consolidating Emirates NBD’s presence in the Indian banking sector. The $2.75 billion investment ranks among the largest foreign capital infusions in Indian private banking, positioning RBL Bank for expanded operations and competitive strength in the market. The consolidation aligns with trends of cross-border banking expansions in India’s growing financial services landscape.
The RBI’s approval clears the regulatory path for the merger to take effect on December 1, 2026, when Emirates NBD’s Indian branches will officially become part of RBL Bank’s network. This date marks a key milestone in the integration process following the June 2026 acquisition.