What company has received approval for its merger with North East Small Finance Bank (NESFB)?
Current Affairs
Business
Difficulty: Medium
Choose an option
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ARazorpay
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BPaytm
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CSlice
-
DPhonePe
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EZomato
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**.