India, May 16 -- The Finance Ministry has granted approval to Dubai-based Emirates NBD Bank (PJSC) for the acquisition of up to 74 per cent stake in RBL Bank.

Emirates NBD Bank has informed that it has received a letter from the Department of Financial Services dated May 14, 2026, approving its proposed acquisition in RBL Bank, a regulatory filing said on Friday.

The approval for investment in excess of 49 per cent and up to 74 per cent of the total paid-up equity share capital of RBL Bank was approved, RBL Bank said.

The approval came a day before 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 completi...