RBL Bank has received a significant regulatory milestone for the proposed acquisition by Emirates NBD Bank, with the Central Bank of United Arab Emirates granting its approval for the transaction. The development was communicated to stock exchanges on March 25, 2026, marking progress in the cross-border banking deal.

UAE Central Bank Grants Approval

Emirates NBD Bank (P.J.S.C) informed RBL Bank on March 25, 2026 that it has received a letter from the Central Bank of United Arab Emirates dated March 24, 2026. The letter approves the investor's proposed acquisition of a majority stake in RBL Bank and the proposed amalgamation of Emirates NBD's existing operations in India into the Indian lender.

Regulatory Compliance and Next Steps

The approval from the UAE Central Bank represents a crucial step in the acquisition process, though the transaction remains subject to receipt of all necessary regulatory approvals from other relevant authorities. This indicates that additional clearances from Indian regulatory bodies and other jurisdictions may still be required before the deal can be completed.

RBL Bank has ensured compliance with disclosure requirements under Regulation 46(2) of SEBI Listing Regulations by hosting the information on the bank's website at www.rbl.bank.in . The current disclosure follows the bank's earlier stock exchange announcement regarding this transaction dated October 18, 2025.

Transaction Background

The proposed deal involves Emirates NBD Bank acquiring a majority stake in RBL Bank while simultaneously amalgamating its existing Indian operations into the Indian lender. This structure would consolidate Emirates NBD's presence in the Indian banking market under the RBL Bank platform, potentially creating synergies and expanding the combined entity's market reach.

The transaction represents a significant development in India's banking sector, involving one of the UAE's largest banking groups and an established Indian private sector bank. The approval from the UAE Central Bank demonstrates the transaction's alignment with the Emirates' regulatory framework and strategic banking policies.

RBL Bank Limited has received significant relief from tax authorities as the Maharashtra State Tax department has withdrawn a substantial GST demand of ₹92.00 crore. The development marks a positive resolution to a tax matter that had been pending since 2025.

Tax Demand Withdrawal Details

The Assistant Commissioner of State Tax, Mumbai, through an order dated March 24, 2026, has concluded the proceedings and withdrawn the entire tax demand outlined in a previous show cause notice. The withdrawal encompasses the complete amount including interest and penalty components.

Background of the Case

The bank had previously disclosed on October 1, 2025, about receiving a show cause notice under the Maharashtra Goods and Services Tax Act, 2017. The notice pertained to the financial year 2019-20 and proposed a GST demand of ₹92,00,23,536, which included the principal tax amount along with applicable interest and penalty.

Regulatory Compliance

RBL Bank has maintained transparency throughout this process by adhering to regulatory disclosure requirements. The bank has fulfilled its obligations under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, by promptly informing the stock exchanges about this development.

Additionally, in compliance with Regulation 46(2) of the SEBI Listing Regulations, the bank has made this information available on its official website at www.rbl.bank.in , ensuring accessibility for all stakeholders.

Impact and Resolution

The complete withdrawal of the GST demand provides closure to this tax matter for RBL Bank. The resolution eliminates the potential financial liability that was contingent upon the outcome of the tax proceedings, offering clarity to the bank's financial position regarding this specific matter.