New Delhi, Oct. 16 -- The Reserve Bank of India (RBI) has approved the amalgamation of the Indian branches of Emirates NBD Bank P.J.S.C. with RBL Bank Limited, with the merger set to take effect from December 1, 2026.

In an official statement on Friday, the RBI said following the amalgamation, all Indian branches of Emirates NBD Bank will function as branches of RBL Bank.

RBI said, "The Reserve Bank of India has sanctioned the Scheme of Amalgamation of Indian branches of Emirates NBD Bank P.J.S.C. (Transferor Bank) with RBL Bank Limited (Transferee Bank). The effective date of the amalgamation shall be December 01, 2026".

The development follows Emirates NBD's acquisition of a majority stake in RBL Bank, which was completed on June 18,...