Mumbai, 18 June (HS): In a historic moment for India's

financial sector, Maharashtra Chief Minister Devendra Fadnavis praised

Dubai-based Emirates NBD's USD 3 billion strategic investment in RBL Bank on

Thursday as a massive validation of the country's economic path. Fadnavis stated

at the formal announcement ceremony in Mumbai that the deal demonstrates

India's rising global standing. According to Fadnavis, it demonstrates global

investors' enormous confidence in the Indian economy, the Indian banking

system, and the India Growth Story.

Supporting Consolidation and Investment: The Chief Minister

emphasized the transaction's broader regulatory and structural implications,

saying that this single deal will pave the way for many more agreements,

allowing foreign banks to tie up with Indian banks and consolidating the

banking sector.

Fadnavis also emphasized Maharashtra's dominating position

as India's major financial engine and its appeal as an investment destination.

Maharashtra is one of India's largest contributors, accounting for 14% of

national GDP and 40% of FDI inflows, he said.

Pitching the state's aggressive development strategy to a freshly capitalized

business, he stated, Aside from the private sector, government is another

sector where you can safely lend--there is no default and a massive project

pipeline.

“This landmark deal sets a precedent for future strategic

investments and deeper partnerships between foreign and Indian banks. This

milestone reflects the strength and growing global confidence in India’s growth

story under the leadership of Hon PM Narendra Modi Ji,” he claimed.

Strengthening India-UAE Strategic Corridor: sentiment was echoed by R

Subramaniakumar, Managing Director and CEO of RBL Bank, who described the deal

as revolutionary geopolitical alignment. Our cooperation with Emirates NBD

represents the expanding strength of the India-UAE corridor, which has emerged

as one of the most crucial strategic corridors internationally, opined

Subramaniakumar. He stressed that the cooperation goes much beyond a cash

raise: Together, we are laying the groundwork for a stronger, more

inclusive partnership.

Shayne Nelson, Group CEO of Emirates NBD, reaffirmed the mega-deal's strong

commercial ties. Our bilateral relationship has already exceeded billions of

dollars in trade value, making the UAE India's third-largest trading partner

and India the UAE's second-largest trading partner right now, Nelson said,

adding that we are here to be a responsible, long-term partner in India's

massive growth story.

CMO Maharashtra penned a post on X, which reads as follows: “Historic

Milestone for India-UAE Relationship: A landmark $3 billion investment in RBL

Bank by Emirates NBD at the RBL Bank-Emirates NBD Strategic Milestone Ceremony

in the presence of CM Devendra Fadnavis and Union Minister Nirmala Sitharaman. RBL

Bank MD and CEO R. Subramaniakumar, Non-Executive Independent Director at RBL

Bank Chandan Sinha, RBL Bank Executive Director Jaideep Iyer, Vice Chairman and

MD of Emirates NBD Hesham Abdulla Al Qassim, Emirates NBD Group CEO Shayne

Nelson and other dignitaries were present.”

Hindusthan Samachar / Abhishek Awasthi