What company has received approval for its merger with North East Small Finance Bank (NESFB)?

Current Affairs Business Difficulty: Medium
Choose an option
  • A
    Razorpay
  • B
    Paytm
  • C
    Slice
  • D
    PhonePe
  • E
    Zomato

Answer

Correct Answer: Slice

Explanation

### Concept & Fact The Reserve Bank of India (RBI) oversees and approves major mergers and acquisitions in the banking sector to ensure financial stability and regulatory compliance. ### Step-by-Step Solution * North East Small Finance Bank (NESFB) sought a strategic merger to enhance its technological footprint and capital base. * The fintech startup "Slice" (operated by Garagepreneurs Internet Pvt Ltd) applied for this merger. * The Competition Commission of India (CCI) and subsequently the RBI granted approval for the merger of the fintech firm Slice with NESFB. ### Exam Strategy & Shortcut Connect "Slice", which originally started as a credit card challenger (fintech), to its aggressive move into traditional banking by acquiring a Small Finance Bank license through a merger. ### Common Pitfall Confusing this with Paytm's regulatory struggles with its own Payments Bank, or PhonePe's wealth management acquisitions. Slice is the specific entity merging with NESFB. ### Final Answer Therefore, the correct answer is **Slice**.
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