Maharashtra Chief Minister Devendra Fadnavis on Thursday said the acquisition of a majority stake in RBL Bank by Emirates NBD reflects global confidence in India's economic growth story and banking system, and will pave the way for more foreign banks to build deeper partnerships with Indian lenders.
"I think this one deal has paved a way for many more such deals, for many more such equity infusions, and it will open a way for many more foreign banks to have deep ties with the Indian banks thereby consolidating and deepening the Indian banking sector and also thereby helping the Indian economy to grow," Fadnavis said at the RBL Bank and Emirates NBD Bank deal closing event.
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Fadnavis added that the transaction was not merely an exchange of papers, but a history of sorts, as it represents one of the biggest equity acquisitions in India's banking sector.
"It shows the confidence of global investors in the Indian economy and the Indian banking system. It shows the strength of India's growth story," Fadnavis said.
On Thursday, Emirates NBD Bank announced the completion of its acquisition of a majority stake in RBL Bank through a primary capital infusion of around $2.75 billion (about Rs 26,000 crore).
The transaction, which was announced on Oct. 18, 2025, was completed after receiving all regulatory approvals and fulfilment of closing conditions.
Following the completion of the deal, Emirates NBD holds a 60% stake in the expanded share capital of RBL Bank.
The investment was completed through a preferential issue of shares, along with the mandatory open offer to public shareholders of RBL Bank as per applicable regulations.
The transaction also marks the first acquisition of a majority interest in a profitable Indian bank by a foreign bank, according to the statement.
The investment is among the largest equity fundraises in the Indian banking sector, and one of the largest preferential issuances by a listed company in India.
Fadnavis said the partnership between the UAE-based lender and RBL Bank also reflected the growing economic relationship between India and the UAE, strengthened by commitments made during Prime Minister Narendra Modi's engagements with the UAE leadership.
"This is just the beginning, and we are ready to witness many more such engagements between the two countries," he said.
The chief minister also highlighted the state's role in India's economic growth, saying Maharashtra contributes 14% to the country's GDP and accounts for around 40% of the foreign direct investment coming into India.
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Fadnavis also invited RBL Bank to participate in Maharashtra government projects, saying the state has a project pipeline worth $100 billion.
"I would like to tell you that apart from the private sector, the government is also one sector which is safest to lend. It never defaults. I have a project pipeline of $100 billion. Maybe we can work together," he said.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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