North East Small Finance Bank (NESFB) have received a No Objection Certificate (NOC) from the Reserve Bank of India for the proposed merger of GIPL (slice), a fintech unicorn with NESFB, the local small finance bank headquartered in Guwahati, Assam. This is a pathbreaking move to accelerate their joint vision of expanding tech-enabled financial accessibility to the interiors of North East in addition to across the other states of the country. In the forthcoming months, NESFB will work towards receiving the requisite approval from other regulatory bodies namely NCLT, SEBI, etc. for the merger to be completed.
On this momentous occasion, Ms. Rupali Kalita, MD & CEO, NESFB said “This NOC for proposed merger of GIPL (slice) with NESFB will enhance technological capabilities of our bank in strengthening our grassroot banking foundation with improved customer experience across the 230 dedicated branches in North East. It will greatly advance our mission of financial inclusion through digital means, with a commitment to expanding reach at the grassroots level, leveraging modern risk architecture, and eventually becoming a leader in the banking industry. Over the past twelve months, we have worked meticulously with the slice team to establish business synergies, laying the foundation for an unbeatable partnership. This achievement owes itself to the unwavering commitment and relentless dedication exhibited by all staff who have diligently steered this project.
NESFB will continue its dedicated service to North East India in the states of Assam, Meghalaya, Manipur, Nagaland, Mizoram, Tripura, Arunachal Pradesh, Sikkim and North Bengal, merging technology with deep community insight to offer top-tier financial services to the region. This collaboration of technology and grassroot connect will not only bolster our enduring promise to the North East but also facilitate the extension of financial inclusion across the nation.” This NOC for proposed merger is a significant step forward in enhancing financial inclusivity using cutting-edge tech solutions, driving innovation, and setting new benchmarks in the industry.
