RBI Approves Merger of Emirates NBD’s Indian Branches With RBL Bank

The Reserve Bank of India (RBI) has approved the amalgamation of the Indian branches of Dubai-based Emirates NBD Bank PJSC with RBL Bank, with effect from December 1, 2026. The RBI sanctioned the scheme on October 16 under Section 44A(4) of the Banking Regulation Act, 1949, Business Standard reported.

Three Branches Move to RBL Bank

Emirates NBD’s three branches in India, in Mumbai, Chennai and Gurugram, will function as branches of RBL Bank from December 1, the RBI said. Customers of those branches will become RBL Bank customers on that date.

The branch merger is a separate, later step from Emirates NBD’s purchase of a controlling stake in RBL Bank. The Dubai lender now holds about 60 per cent of RBL Bank’s expanded share capital after a capital infusion of about Rs 26,000 crore completed in June 2026, reports said, a deal described as the largest foreign direct investment in Indian banking.

Deposits and Loans Carry Over

Under an RBI-approved amalgamation, the assets and liabilities of the transferring branches pass to the receiving bank, so deposits and loans held at Emirates NBD’s Indian branches continue with RBL Bank. Customers can expect communication from the banks on any changes to account numbers, cheque books or online banking before the December date.

Deposits remain covered by the Deposit Insurance and Credit Guarantee Corporation up to Rs 5 lakh per depositor per bank, as with other commercial banks.

A Gulf Bank’s Bigger Bet on India

For Emirates NBD, folding its branches into RBL Bank gives it a single, larger platform in India with RBL’s branch network across the country. Gulf News reported that the bank is looking to India for more of its overseas growth.

The merger takes effect in about six weeks. Read more in IPB’s Economy section.

Based on reporting by Business Standard, The Pioneer, Angel One and Gulf News.

Image: Wikimedia Commons (Reserve Bank of India building).