RBI Approves Merger of Emirates NBD’s Indian Branches with RBL Bank from December 1, 2026

The Reserve Bank of India (RBI) has approved the merger of the Indian branches of Emirates NBD Bank P.J.S.C. with RBL Bank Limited. The amalgamation will take effect on December 1, 2026, according to an RBI press release dated October 16, 2026. 

Emirates NBD operates three branches in India, located in Mumbai, Chennai and Gurugram. Once the merger takes effect, all three branches will function as branches of RBL Bank. 

Emirates NBD Completes ₹26,000 Crore Investment 

The merger follows Emirates NBD’s acquisition of a 60% stake in RBL Bank, completed on June 18, 2026. The UAE-based bank invested around ₹26,000 crore ($2.75 billion) through a primary capital infusion, increasing its holding in RBL Bank’s expanded share capital. 

The transaction was first announced in October 2025. It was completed after the necessary regulatory approvals were secured and the closing conditions were met. At the time of completion, it was the largest foreign direct investment in India’s banking sector. 

Regulatory Approvals and Board Changes 

The Competition Commission of India approved the proposed combination in January 2026. The required regulatory and government approvals for the broader transaction were secured by May. 

RBL Bank’s board has also approved five nominees of Emirates NBD as additional non-executive, non-independent directors. Their appointments took effect on June 18, 2026, subject to shareholder approval. 

Plans for the Combined Business 

The capital infusion is intended to support RBL Bank’s lending activities, technology investments, and deposit business. The partnership also brings together RBL Bank’s domestic banking operations and Emirates NBD’s regional network. 

The combined operations are expected to serve non-resident Indians, corporate clients and businesses operating between India and the Gulf. Areas of business include cross-border trade finance, corporate banking, and remittances. 

Merger to Take Effect in December 

The amalgamation will bring Emirates NBD’s Indian branch operations under RBL Bank from December 1, 2026. The merger follows the completion of the majority stake acquisition in June and forms part of the integration of the two banks’ operations. 

Read More: India Directs Telecom Operators to Display Caller Names from November 1, 2026! 

Conclusion  

The merger of Emirates NBD’s three Indian branches with RBL Bank will take effect on December 1, 2026, following the completion of the majority stake acquisition in June. 

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