Slice, a leading consumer payments and lending company, has officially completed its merger with North East Small Finance Bank (NESFB). The merger was approved by shareholders and regulatory authorities, marking the beginning of a new phase for both entities. This merger brings together Slice’s cutting-edge fintech expertise and NESFB’s traditional banking roots, aiming to create a unified tech-driven banking institution.
Aiming for Growth in the Northeast
One of the key objectives of this merger is to strengthen NESFB’s presence in the Northeast region of India. The new bank plans to enhance its services in this region while expanding its reach across the country. By leveraging advanced technology, the merged entity seeks to promote financial inclusion and contribute to economic growth, particularly in underserved areas.
Rajan Bajaj, Founder and CEO of Slice and Executive Director of the newly merged entity, expressed his excitement about the venture, saying, “We are thrilled to be at the starting line of building India’s most loved bank. Our commitment is to create a customer-centric institution that will change the way Indians bank, especially in the Northeast region.” He also emphasized the importance of risk management and strong governance as the cornerstones of their banking operations.
Combining Innovation with Tradition
Satish Kumar Kalra, Managing Director and CEO of NESFB, highlighted the significance of this merger, noting how it represents a major milestone for both the banking sector and the Northeast region. Kalra said, “This is a landmark event in Indian banking, particularly for a financial institution rooted in the Northeast. Slice’s technology will be instrumental in redefining banking standards across India.”
Kalra added that the merged entity will focus on delivering accessible and impactful banking experiences for all, with a mission to drive financial inclusion. The partnership aims to bring advanced banking services to every corner of India, offering products such as savings accounts, fixed deposits, and credit options.
Seamless Transition for Customers
During the transition period, customers will have access to North East Small Finance Bank and Slice services without any interruptions. The merged entity is working to streamline operations and ensure seamless integration over the coming months. With this merger, both companies are set to revolutionize the Indian banking landscape, particularly in the Northeast.
