RBL Bank gets RBI nod for Emirates NBD’s 74% stake buy

RBL Bank on Thursday said the Reserve Bank of India has approved a proposal by Emirates NBD Bank to acquire up to a 74% stake in the lender, marking a key step toward a potential change in ownership and regulatory status.

In an exchange filing, the bank said the RBI, via a letter dated April 1, 2026, has cleared the investor to acquire up to 74% of its paid-up share capital. As part of the approval, Emirates NBD will be required to maintain at least a 51% stake, following which RBL Bank will be classified

as a foreign bank operating in India through a wholly owned subsidiary structure.

The RBI has also allowed Emirates NBD to be classified as the promoter of RBL Bank, subject to applicable SEBI regulations. However, the investor’s voting rights will be capped at 26% in line with the Banking Regulation Act, 1949.

Earlier in the day, Emirates NBD said it has secured key regulatory approvals for the proposed transaction, bringing it closer to completion. The lender confirmed it has received approvals from the Reserve Bank of India and the Central Bank of the UAE, in addition to an earlier nod from the Competition Commission of India.

“We are pleased to confirm that we have received key regulatory approvals from the Reserve Bank of India and the Central Bank of the UAE for the RBL transaction, in addition to the earlier approval from the Competition Commission of India. We continue to engage with the relevant authorities on the remaining approvals, which are progressing through the normal process. We look forward to receiving them in due course and completing the transaction,” an Emirates NBD spokesperson said.

The RBI approval is subject to additional conditions, including clearance from the Government of India for foreign investment beyond 49% under the approval route, along with compliance with applicable regulations under RBI, SEBI, FEMA and other laws.

The central bank has granted a one-year window for completion of the transaction. During this period, Emirates NBD has also been given a temporary exemption from the ‘single mode of presence’ requirement until its Indian branches are merged with RBL Bank or within one year, whichever is earlier.

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