New Delhi, Aug 19 (PTI) 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 Pvt Ltd, Quadrillion Finance Pvt Ltd, Intergalactory Foundry Pvt Ltd, RGVN (North East) Microfinance Ltd, and North East Small Finance Bank, the company said in a statement.

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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.

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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.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)