New Delhi, Oct. 18 -- Emirates NBD Bank, one of the largest banking groups in the Middle East, will invest Rs.26,853 crore to acquire a majority stake in RBL Bank, pending shareholder and regulatory approvals.

RBL Bank on Saturday announced the Board has "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")."

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.

The Bank's Board has approve...