RBL Bank has clarified reports about talks to onboard 160 million Zerodha clients, stating that the bank routinely explores partnership opportunities as part of its business strategy. The bank denied any specific deal finalization, highlighting normal course engagement without confirmed negotiations.
RBL Bank Response to Zerodha Partnership Reports
Amid widespread media reports suggesting RBL Bank is in talks to onboard Zerodha’s 160 million broking clients, the bank issued a formal clarification on October 27, 2025. RBL Bank emphasized that it routinely explores various partnership opportunities as part of its normal business operations but has not entered into any specific agreement regarding the proposed onboarding of Zerodha clients.
This clarification aims to address market speculation and bring transparency to shareholders and investors. While sources had indicated potential benefits such as significant deposit inflows and a boost to RBL’s CASA ratio if such a deal materializes, RBL maintains that no such transaction has been conclusively agreed upon at this stage.
The context for the speculation includes Emirates NBD’s recent majority stake acquisition plans in RBL Bank, positioning it for significant retail and digital growth. Analysts note that onboarding Zerodha clients, if realized, could greatly enhance RBL’s retail franchise by consolidating client funds under a unified 3-in-1 account structure combining broking, banking, and demat services.
Key Highlights:
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RBL Bank routinely explores partnership opportunities; no confirmed talks with Zerodha per recent clarification.
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Media reports of onboarding 160 million Zerodha clients are speculative, with no final agreement in place.
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Potential deal could have brought significant deposits and CASA improvements to RBL Bank.
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Recent strategic context includes Emirates NBD’s majority stake acquisition to boost RBL’s growth trajectory.
RBL Bank continues to focus on expanding retail, corporate, and digital banking operations.
Source: RBL Bank official clarification to NSE, The Financial Express, Reuters, Economic Times