Oct 29: The merger between Slice and North East Small Finance Bank (NESFB) has been finalized. 

The fintech startup Slice announced the merger proposal in October 2023, and it received approval from the National Company Law Tribunal (NCLT) along with necessary regulatory approvals. The merger was officially completed on October 27.

The newly formed entity is set to leverage advanced technology and digital solutions to improve financial inclusion and stimulate economic growth in the Northeast region, while also extending its reach across India.

The merger has received necessary approvals from various authorities, including the Competition Commission of India (CCI), the Registrar of Companies (RoC), and the Regional Director (RD), along with no objection certificates from the Reserve Bank of India (RBI) and the Income Tax Department.

Founded in 2016 by Rajan Bajaj, Slice initially operated as a buy now pay later (BNPL) platform, offering a prepaid payment instrument similar to a credit card.