RBI Approves Amalgamation of Emirates NBD's Indian Branches with RBL Bank from 1 December 2026

16 October 2026National

The Reserve Bank of India has sanctioned the amalgamation of the three Indian branches of Dubai-based Emirates NBD Bank (PJSC) at Mumbai, Chennai and Gurugram into RBL Bank, effective 1 December 2026, under Section 44A(4) of the Banking Regulation Act, 1949. It completes a sequence that began when Emirates NBD acquired a 60% stake in RBL Bank on 18 June 2026, buying 929.1 million shares at Rs 280 each for about Rs 26,016 crore, the largest foreign direct investment into Indian banking. In the same round the RBI also cleared REC Limited's merger into Power Finance Corporation.

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The Reserve Bank of India was established on 1 April 1935 under the RBI Act, 1934, nationalised on 1 January 1949, and is headquartered in Mumbai | Section 44A of the Banking Regulation Act, 1949 deals with the voluntary amalgamation of banking companies and requires RBI sanction | RBL Bank, formerly Ratnakar Bank, was founded in 1943 at Kolhapur, Maharashtra and is headquartered in Mumbai

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