Question
What is the effective date of the amalgamation of
Fincare Small Finance Bank Ltd. with AU Small Finance Bank, as approved by the Reserve Bank of India?Solution
• The Reserve Bank of India has sanctioned the Scheme of Amalgamation of Fincare Small Finance Bank Ltd. (Transferor Bank) with AU Small Finance Bank Ltd. (Transferee Bank). • The effective date of the amalgamation shall be April 01, 2024. • 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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