NCLT approves Slice merger with North East Small Finance Bank

New Delhi: Consumer payments and lending company Slice on Monday said it 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, Quadrillion Finance, Intergalactory Foundry, RGVN (North East) Microfinance, and North East Small Finance Bank, the company said in a statement.

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, it said.

The merger will enable the combined entity to leverage advanced technology and deep community understanding, fostering financial inclusion across the nation, it said.

Customers can look forward to an expanded range of products, enhanced omni channel offerings, and a seamless banking experience, it said.

Slice and NESFB will soon announce the effective merger date and details of the merged entity, it said.

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