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Fintech Startup Slice Merges with NESFB to Operate as Unified Entity.

Economy Business | Dated: 15 Nov 2024

Slice, the Bengaluru (Karnataka) based fintech start-up, has successfully completed its merger with Guwahati (Assam) based North East Small Finance Bank (NESFB), effective from 27th October 2024, following the receipt of all necessary approvals from shareholders and the Reserve Bank of India (RBI).

🎯 Key Highlights:

  • - The new entity will introduce a range of banking products and services, including savings accounts, fixed deposits, and credit offerings, with a focus on expanding its presence in the northeastern regions of India.
  • - The merged entity will create a technology-driven bank, improving its financial position, enhancing risk management, and improving the customer experience to support its growth and operations.

💡 Other Important Facts:

  • The National Company Law Tribunal (NCLT) approved the merger after receiving clearances from the Competition Commission of India (CCI), the Registrar of Companies (RoC), and the Regional Director (RD), along with No Objection Certificates (NOC) from RBI and the Income Tax Department (ITD).

📚 Test Your Knowledge:

Which fintech startup recently merged with North East Small Finance Bank (NESFB)?

Correct Answer: Slice

🚀 Quick Recap: