New Delhi, Oct. 18 -- Emirates NBD Bank will invest Rs.26,580 crore to acquire a majority stake in RBL Bank, pending shareholder and regulatory approvals.

"Considered and Approved Fund raise of up to INR 268,53,27,78,080 (Twenty Six Thousand Eight Hundred and Fifty Three Crores Twenty Seven Lakhs Seventy Eight Thousand and Eighty) from Emirates NBD Bank (P.J.S.C) ("Investor")," RBL Bank said.

The proposal depends on shareholder approval and necessary regulatory clearances from authorities such as the Reserve Bank of India, DPIIT, CCEA, Stock Exchanges, and CCI, along with other agreed conditions in the Investment Agreement.

(This is a developing story. Check back for further updates.)

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