Consumer payments and lending company, Slice has received approval from the National Company Law Tribunal (NCLT) for its merger with North East Small Finance Bank (NESFB).
The NCLT Guwahati bench sanctioned the scheme of arrangement and amalgamation involving Garagepreneurs Internet Pvt Ltd, Quadrillion Finance Pvt Ltd, Intergalactory Foundry Pvt Ltd, RGVN (North East) Microfinance Ltd, and NESFB, according to a statement by Slice.
This approval marks a major milestone, paving the way for the official merger. The merger will combine Slice’s digital expertise with NESFB’s grassroots banking capabilities, aiming to deliver an enhanced financial experience to consumers across India.
“The merger will enable the combined entity to leverage advanced technology and deep community understanding, fostering financial inclusion across the nation,” the company stated.
Customers can expect an expanded range of products, enhanced omnichannel offerings, and a seamless banking experience. The effective merger date and further details about the merged entity will be announced soon.
“This merger represents a significant step forward in advancing financial inclusivity and setting new industry benchmarks through innovative tech solutions,” Slice added.
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