North East Small Finance Bank: There are many banks present in the country. Financial operations are done through banks and people’s money is also kept safe. Meanwhile, an important update has come out regarding a bank and now a fintech company is going to be merged into this bank. Let us know important updates about this…
Fintech Company: There are many small and big banks in the country. Many types of facilities are also provided to the customers through these banks. People can keep their money safe in the bank and can also do any kind of transaction. Since technology has developed, people can also avail banking facilities through online process. Meanwhile, a company that works online through a combination of finance and tech is known as a Fintech company. Now a fintech company has merged with a bank. RBI has given its decision regarding this. Let us know about it…
Merger of bank and fintech company
Financial technology (fintech) company Slice has merged with Bank. This company has merged with North East Small Finance Bank (NESFB). The company gave this information on Wednesday. Slice said in the statement that this merger has received approval from the Reserve Bank of India. However, despite getting approval from RBI, approval is still to be taken from some people.
Opportunity to create responsible banks
Rajan Bajaj, Founder and Chief Executive Officer (CEO) of Slice, said, “We see this as an opportunity to build a highly inclusive and responsible bank. This will strengthen the bank’s risk management system and operations. This will also help the bank to advance its operations through technology.
While RBI has approved this merger, other regulatory approvals are still to be taken along with the shareholders for this merger. Rupali Kalita, Managing Director and CEO of NESFB, said that this collaboration with Slice will be helpful in expanding our reach and the scope of our services.