NCLT Approves Slice and North East Small Finance Bank Merger [Current Affairs]
Fintech company Slice has received approval from the National Company Law Tribunal (NCLT) for its merger with North East Small Finance Bank. The Guwahati bench of the NCLT has sanctioned the scheme of arrangement and amalgamation involving several entities, including Garagepreneurs Internet, Quadrillion Finance, Intergalactory Foundry, RGVN (North East) Microfinance, and North East Small Finance Bank.
Merger Details
Approved Entities: Garagepreneurs Internet, Quadrillion Finance, Intergalactory Foundry, RGVN (North East) Microfinance, and North East Small Finance Bank.
Key Players: Slice (fintech company) and North East Small Finance Bank.
Objective: To combine Slice’s digital expertise with North East Small Finance Bank’s banking proficiency.
Next Steps
Both organizations will work towards a smooth transition, ensuring that customers, employees, and stakeholders experience minimal disruption. They aim to uphold high standards of service and support throughout the process.
Source: currentaffairs by adda247
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