RBI Approves of Amalgamation of ‘Fincare Small Finance Bank Ltd’ With ‘AU Small Finance Bank Ltd’
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- By Chetan Kulasri
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- Last Updated on 6 March, 2024
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Press Release No. 2023-2024/1995; Dated: 04.03.2024
The RBI has approved the scheme of amalgamation of ‘Fincare Small Finance Bank Ltd.’ with ‘AU Small Finance Bank Ltd’. The scheme has been sanctioned in the exercise of the powers contained in Section 44A of the Banking Regulation Act, 1949. The effective date of the amalgamation shall be April 01, 2024. Further, all the branches of Fincare Small Finance Bank Ltd. will function as branches of AU Small Finance Bank Ltd. with effect from April 01, 2024.
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