UAE President Mohamed bin Zayed Al Nahyan personally received Prime Minister Narendra Modi at the airport as the Indian leader departed for the Netherlands, underscoring close diplomatic ties. India’s ambassador Deepak Mittal said Modi’s short UAE visit produced investment announcements of over $5 billion (more than Rs 47,000 crore). A standout element is a first-ever UAE push into India’s banking sector, led by Emirates NBD’s $3 billion. Additional commitments include $1 billion each from ADIA for infrastructure via NIIF and from IHC into Samman Capital, alongside deepening energy cooperation.
Emirates NBD has received all required approvals, including from the Government of India, to acquire a majority controlling stake in RBL Bank. First announced on October 18, 2025, the deal involves Emirates NBD subscribing to about 959 million fully paid equity shares via a preferential issue at ₹280 each, totaling roughly $3 billion. The investment is expected to position Emirates NBD as promoter, with final ownership potentially ranging from 51% to 74% after foreign ownership limits and a mandatory open offer. RBL will operate as a foreign bank subsidiary, with Emirates NBD’s India branch operations in Mumbai, Chennai, and Gurugram potentially amalgamated subject to further clearances.
Your news, in seconds
Get the Beige app — every story in 60 words, updated hourly. Free on iOS & Android.
Visa has teamed up with Emirates NBD to process UAE dirham transactions locally, speeding up domestic Visa card payments for everyday spending like shopping, dining, and travel. The shift to local processing aims to reduce delays while keeping card usage exactly the same for consumers, offering quicker turnarounds without new steps.
Swipe through stories, personalise your feed, and save articles for later — all on the app.
