Kamal Ghorui
The finance ministry has approved Dubai-based Emirates NBD Bank’s proposal to acquire up to 74 per cent stake in private sector lender RBL Bank, PTI reported citing a regulatory filing on Friday.RBL Bank said Emirates NBD Bank (P.J.S.C) has received a letter from the Department of Financial Services dated May 14, 2026 approving the proposed acquisition.The approval allows investment in excess of 49 per cent and up to 74 per cent of the total paid-up equity share capital of RBL Bank.The clearance comes a day ahead of Prime Minister Narendra Modi’s official visit to the UAE.“The proposed investment by Emirates NBD Bank in RBL Bank by way of a preferential issue of equity shares remains subject to completion of the customary conditions,” the filing said.Last month, the Reserve Bank of India (RBI) had also approved Emirates NBD Bank’s plan to acquire up to 74 per cent stake in RBL Bank.The UAE’s second-largest bank had expressed interest in October 2025 to acquire a majority 60 per cent stake in RBL Bank for Rs 26,853 crore.According to the RBI approval, Emirates NBD would be required to acquire and maintain at least 51 per cent shareholding in RBL Bank. Following the transaction, RBL Bank would be classified as a foreign bank in subsidiary mode, with Emirates NBD as the parent foreign bank.Earlier in January, the Competition Commission of India (CCI) had cleared Emirates NBD Bank’s proposal to acquire a majority stake in RBL Bank.
