slice, India’s leading consumer payments and lending company has successfully completed its merger with North East Small Finance Bank (NESFB), effective from 27th October 2024, following the receipt of all requisite shareholder and regulatory approvals. This merger unifies the operations, assets, and brand identities of both entities into a single, integrated banking institution.
This merger marks a pivotal milestone in India’s financial landscape, combining the innovation of a leading fintech with the trusted foundation of a traditional banking institution. This strategic integration sets the foundation for building India’s foremost tech-driven bank, prioritizing stability, risk management, and a robust governance framework as its key pillars.
Reflecting on the merger, Rajan Bajaj, Founder & CEO, slice and Executive Director of the merged entity, said, “For over a year, the teams at slice and NESFB have worked tirelessly to make this merger a reality. Today, we’re thrilled to be at the starting line of building India’s most loved bank. We are grateful to the regulatory authorities, especially the RBI and The Govt of Assam, for trusting us with this transformative journey.”Moving forward, the merged entity will introduce a range of banking products and services including savings account, fixed deposits, and credit products among others.
