Credit card and digital payments unicorn Slice has announced that it is merging with North East Small Finance Bank (NESFB).
According to the fintech firm, the RBI has issued a certificate stating that the merger is not subject to shareholder approval or any other regulatory requirements.
After operating as a Non-Banking Financial Company (NBFC) for the past four years, Slice had the option of becoming a bank either by asking for a new licence or obtaining one (after reaching the five-year milestone as an NBFC).
