RBL Bank Limited (RBL Bank) has received all regulatory and governmental approvals for the proposed strategic investment by Emirates NBD, the group announced on 15 May 2026. The approvals advance a transaction first announced on 18 October 2025 and mark a major milestone in the bank's expansion plans. RBL Bank, a private sector bank founded in 1943 with a legacy of 83 years, said the clearances pave the way for the next phase of its growth.

Under the investment agreement, Emirates NBD will make a primary infusion of United States dollar (USD) 3 bn, equivalent to Indian rupee (Rs) 268.5 bn, by subscribing to up to 959,045,636 fully paid equity shares at Rs 280 per share through a preferential issue. The allotment would represent approximately 60 per cent of RBL Bank’s post-issue paid-up share capital. Emirates NBD’s final shareholding is expected to range between 51 per cent and 74 per cent of total paid-up capital, subject to foreign ownership limits and the mandatory open offer process.

The bank said the transaction is among the largest international investments in the Indian banking sector and is expected to position RBL Bank to pursue international opportunities and accelerate expansion across high-growth segments. Management indicated that the strategic capital will support long-term investments in technology, risk management and customer experience while enabling greater cross-border services. The chairman described the approval as reinforcing confidence in the franchise and enabling the scaling of key business segments with governance at the core.

The transaction envisages the eventual amalgamation of Emirates NBD’s India branch operations in Mumbai, Chennai and Gurugram into RBL Bank, subject to further regulatory clearances. Upon completion, Emirates NBD will be recognised as the promoter and RBL Bank will operate as a foreign bank subsidiary under the Reserve Bank of India framework. The bank said stakeholders in India and the UAE sustained engagement to conclude approvals and that the deal underscores strengthening economic and financial linkages between the two countries.