The National Company Law Tribunal (NCLT) has approved the merger of North East Small Finance Bank (NESFB) with slice, a prominent consumer payments and lending company in India. The NCLT’s Guwahati bench sanctioned the Scheme of Arrangement and Amalgamation, which involves several entities, including NESFB, slice, and their parent companies.
This merger is a strategic move that combines NESFB’s grassroots banking expertise with slice’s digital prowess, aiming to enhance financial services across India. The merger follows essential approvals from the Competition Commission of India (CCI), Registrar of Companies (RoC), Regional Director (RD), and no-objection certificates from the Reserve Bank of India (RBI) and the Income Tax Department. The combined entity is expected to deliver advanced technology-driven financial solutions, contributing to financial inclusion nationwide.
In Guwahati , the merger is poised to strengthen NESFB’s presence in the Northeast, offering enhanced financial services and digital banking experiences to the region’s consumers. The integration is anticipated to drive growth and innovation in the local banking sector, benefiting customers with a broader range of products and improved service standards.
