RBI approves Fincare-AU Small Finance Financial institution merger – Instances of India

MUMBAI: rbi has authorized the merger of Fincare Small Finance Financial institution with AU Small Finance Financial institution, The efficient date of the amalgamation is ready for April 1, 2024. Following this, all Fincare SFB branches will function as branches of AU SFB.
Earlier in Jan 2024, the Competitors Fee of India had authorized the merger. The boards of Fincare and AU had cleared an all-stock merger of the 2 entities in Oct 2023.Tnn