On October 30, AU Small Finance Bank (AU SFB) announced its merger with Fincare Small Finance Bank, effective from February 1, 2024. The merger awaited approvals from critical stakeholders, including shareholders, the Reserve Bank of India (RBI), and the Competition Commission of India (CCI).
The CCI, in its meeting on January 23, 2024, approved the proposed combination, as communicated by AU SFB in a regulatory filing. However, the merger is contingent upon the RBI’s approval.
The merger aims to capitalize on a complementary branch footprint, establishing a nationwide small finance bank. Portfolio diversification, particularly through access to microfinance businesses focusing on rural and financial inclusion, is identified as a significant advantage.
Kindly share your responses in the comment section!!
The Board of Control for Cricket in India (BCCI) has made a bold and significant…
Madhya Pradesh, a state rich in culture and traditions, celebrates many colorful festivals. One of…
The Ustad Bismillah Khan Yuva Puraskar (UBKUP) is a prestigious award instituted by the Sangeet…
The Sustainable Trade Index 2024, jointly published by the Hinrich Foundation and IMD, highlights the…
The title "Frontier Gandhi" refers to Khan Abdul Ghaffar Khan, a prominent leader from British…
India will host the International Cooperative Alliance (ICA) Global Cooperative Conference in New Delhi from…