RBI approves merger of Emirates NBD’s India branches with RBL Bank from 1 December

MUMBAI: The Reserve Bank of India (RBI) has approved the merger of Emirates NBD Bank P.J.S.C.’s Indian branches with RBL Bank, effective 1 December, consolidating the two banks’ Indian operations after the Dubai-based lender acquired a majority stake in the private sector bank earlier this year.

The approval brings Emirates NBD’s three Indian branches under RBL Bank, following the completion of an over ₹26,000 crore transaction that made the foreign lender the promoter of RBL Bank.

“RBI sanctioned the Scheme…