Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Industry News

| More

NCLT approves slice and North East Small Finance Bank's Merger

Posted On: 2024-08-20 18:45:52 (Time Zone: IST)


slice, India's leading consumer payments and lending company has received approval from the National Company Law Tribunal (NCLT) for its merger with North East Small Finance Bank (NESFB). The NCLT, Guwahati bench, has sanctioned the Scheme of Arrangement and Amalgamation involving Garagepreneurs Internet Private Limited, Quadrillion Finance Private Limited, Intergalactory Foundry Private Limited, RGVN (North East) Microfinance Limited, and North East Small Finance Bank Limited.

The approval paves way for the official merger, combining slice's digital prowess with NESFB's grassroots banking expertise to deliver a superior financial experience to Indian consumers. This follows critical approvals from the Competition Commission of India (CCI), the Registrar of Companies (RoC), and the Regional Director (RD), as well as no-objection certificates from the Reserve Bank of India (RBI) and the Income Tax Department. The merger will enable the combined entity to leverage advanced technology and deep community understanding, fostering financial inclusion across the nation. Customers can look forward to an expanded range of products, enhanced omni channel offerings, and a seamless banking experience.

Commenting on the approval, Rajan Bajaj, Founder & CEO, slice, said, "We are truly grateful for the trust and support of everyone and the distinguished regulatory bodies that played a pivotal role in the process. At slice, we have always prioritized our commitment to our customers. This approval reinforces our dedication to creating a highly inclusive and responsible banking environment. This merger represents not just a milestone, but a testament to our shared dedication to redefining banking experiences and expanding accessibility for all. We are excited to merge with NESFB, and together, we will continue to innovate and strengthen financial access, technology driven banking systems, and customer service."

slice and NESFB will soon announce the effective merger date and details of the merged entity. In the coming months, both organizations will work diligently to ensure a smooth transition for all customers, employees and stakeholders, with a focus on maintaining the highest standards of service and support.

This merger represents a significant step forward in advancing financial inclusivity and setting new industry benchmarks through innovative tech solutions.


Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Furnishka Raises Rs. 27 Crore in Pre-Series A, bringing the total valuation to Rs. 45 Crore across Two Rounds

Magma HDI launches OneProtect - A Contemporary Personal Accident Insurance for Active Lifestyles

Conscious Chemist announces INR 12 Cr funding from Atomic Capital, welcomes Apoorv Gautam to the Board

ClayCo Cosmetics Raises $2 Million from Unilever Ventures to Scale Operations and Expand Product Portfolio

Icon Facilitators Limited targets Rs. 100 Crore revenue by FY27, Plans IPO to Fuel Growth

DRA Homes Acquires Prestigious Marina Mall Residences on OMR, Chennai

Preparing Future-Ready Talents in Auto Sector

The Health Factory Raises $3.5 Million in Seed funding led by Peak XV's Surge

INDmoney's Indian stock broking platform, INDstocks hits 5,58,720 active investors

Bookmybai raises INR 2 Crore in Pre-Series A CCPS Round led by Inflection Point Ventures

FSS unveils Next-Gen Card Management System Powered by BLAZE

Leezu's Secures Pre-Seed Funding to Accelerate Growth in the Pleasure and Sexual Wellness Industry

Wundrsight raises USD 400K in a Seed Round led by Inflection Point Ventures

Vehant Technologies bags contract for Under Vehicle Scanning System from GAIL, IOCL, and Chennai Petroleum

Microsoft acquires Rs.~520 Crore Land Parcel in Pune's Hinjewadi: Square Yards

LiaPlus AI raises INR 2 Crore in Seed Round led by Inflection Point Ventures

VIKRAN Engineering Closes Pre-IPO Up-round of INR 100 Crores

35North India Discovery Fund - II invests USD 3 Million in 'Global Care' - Lavanya Medicare Solutions

Medront raises INR 1.06 Cr in Pre-Seed Round led by Inflection Point Ventures

Edelweiss Life records its highest-ever Claim Settlement Ratio of 99.23% in FY24

AI Startup 'just words' Secures $1.7M in Seed Funding from Peak XV and Y Combinator

InsurancePadosi raised $500K in Funding Led by Antler

Ecom Express Unveils New Brand Identity

Manufacturing Tech startup Fabrication Bazar raises $3 million in Pre-Series A from Physis Capital and ICMG

Verticalized SaaS Payments platform Easebuzz revenue surges to INR 290 Crore in FY 24, eyes IPO in next 2-3 years

Inflection Point Ventures announces full exit from Fashor with 33% IRR

Ev2 Ventures & Caret Capital Lead US$ 1 Million Seed Investment Round in Autonomous Solutions Company Rosh.Ai

TransBnk raises $4 million in Series-A funding round led by 8i Ventures, Accion

PayU and Fynd enter into strategic partnership to Boost Payment Experiences for Merchants in India

Marine robotics Deep tech startup EyeROV raises INR 10 Crore in Pre-Series A led by Unicorn India Ventures

Neo Raises INR 400 Crore in Latest Funding Round Led by MUFG and Euclidean Capital

NSE registered investor base crosses 10 crore unique investors (unique PANs) and 19 crore total accounts

Novamax Appliances Expands its Presence with New Manufacturing Plant in Gorakhpur

NSE's consolidated Q1 FY25 operating revenue up by 51% YoY at Rs.4,510 crores

Jungle Camps India Ltd aims for INR 100-crore revenue by 2028, firms up IPO plans

Essar Energy Transition launches EET Hydrogen Power

TimBuckDo, India's No. 1 Student Gig Hub raises seed funding of INR 2,00,00,000 from Global Tech Leaders Morton Meyerson and Nandkishore Kalambi

Felicity Games Secures $700K in Pre-Seed Funding from DeVC, Swiggy founders, Kunal Shah and other marquee angels

Sustainability startup Ricron Panels raises Series A funding led by Boon Sustainability

Tata Realty Obtains INR 825 Crore from IFC for Advancement in India's Leading Green Asset

Video Telematics startup Cautio raises INR 6.5 Crore in pre-seed funding

Autonom8 collaborates with Mahaveer Finance to Hyperautomate Vehicle Financing in India

Mirae Asset Global Investments India becomes Authorized Corporate Partner of FPSB India

Ageas Federal Life Insurance Declares Highest-Ever Bonus Total of INR 134.44 Crore for FY23-24

Zoomcar Partners with Air India Express to Enhance Travel Experience for Guests

Kuhoo Teams Up with FundsIndia, Offering One-Stop Solution for Student Investment and Lending

OrbitShift raises $7 million in seed funding to build an AI-native sales operating system for enterprise customers

Akasa Air expands global footprint, inaugural flight takes off from Mumbai to Riyadh

Beetel Introduces Specialized Landline Phone Series

Cactus Partners invests $5 million in Indigrid Technology


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020