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RBL Bank enters into strategic partnership with Belong
Jan-08-2026

RBL Bank and Belong, a regulated fintech platform built for Non-Resident Indians (NRIs) have entered into strategic partnership to offer a fully digital USD Fixed Deposit solution through RBL Bank’s International Banking Unit (IBU) at GIFT City. The offering is available to NRIs in the United Arab Emirates (UAE) and select global markets.

In the past 5 years, remittances to India grew from $82 billion in 2019 to $129 billion in 2024. This shows that the intent to invest in India is strong, which is further strengthened by the GIFT City framework. This collaboration brings together RBL Bank’s cross-border banking infrastructure and services and GIFT City infrastructure with Belong’s digital platform to simplify access & investment avenues for NRIs.

Through this partnership, NRIs can invest in USD fixed deposits digitally, enabling them to earn foreign currency returns while managing the impact of INR depreciation on returns within a regulated framework. This partnership has already resulted in close to 10,000 NRIs and OCIs signing up on the Belong app.

This initiative positions RBL Bank among the early Indian banks to extend USD fixed deposits for NRI customers digitally via its GIFT City IBU, reinforcing its focus on digital innovation and cross-border banking solutions. Belong acts as the regulated platform and licensed payment service provider (PSP), enabling seamless digital onboarding, transaction execution, and access to compliant investment products for NRIs worldwide.

RBL Bank operates as a scheduled commercial bank. The bank offers its services under the various business verticals including corporate and institutional banking, commercial banking, retail banking, agri and development banking and financial markets.

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