The private lender disclosed the board’s approval in a stock exchange filing. The proposed borrowing, equivalent to about ₹8,400 crore, will be arranged under a Euro Medium Term Note, or EMTN, programme. This structure allows an issuer to access international debt markets over time.

RBL can sell the bonds or other debt instruments in separate instalments rather than raise the entire amount together. Its Borrowing Committee will determine when to proceed and settle the terms of the issues. A launch date and the final borrowing terms have not been stated.

The move comes after Dubai-based Emirates NBD completed its majority investment in RBL in June. It injected approximately $2.75 billion, or around ₹26,000 crore, directly into the lender through newly issued shares, rather than paying existing shareholders for their holdings.

Following the mandatory public open offer, Emirates NBD owns 60% of RBL’s enlarged equity base. The transaction marked the biggest foreign direct investment in an Indian bank and the first approval allowing a foreign lender to acquire majority control of a profitable Indian private-sector bank. The proposed debt programme is a separate funding step, not another equity investment.