The RBL Bank-Emirates NBD deal also benefits from the current trend of regulations that promotes growth, he said. India allows 74% foreign investment in private banks, but limits shareholdings of any single foreign institution to 15% unless the regulator has approved.

The bank will hold an extraordinary general meeting of shareholders on Nov. 12 to seek their approval for the deal. The transaction is expected to be completed in the following five-six months, the CEO said.

The merger requires approval from the Reserve Bank of India, Securities Exchange Board of India, and Competition Commission of India.

Post the investment, RBL Bank’s net worth will increase to Rs 42,000 crore. As per the agreement, post fund infusion, the current management will continue at the top level.