RBI approves merger of Fincare SFB with AU SFB

The Reserve Bank of India has approved the merger between Fincare Small Finance Bank Ltd. and AU Small Finance Bank Ltd. The board of the bank had approved the merger in October 2023, following which it received shareholder approval in November 2023.

“The effective date of the amalgamation shall be April 1, 2024. All the branches of Fincare Small Finance Bank Ltd. will function as branches of AU Small Finance Bank Ltd. with effect from April 1, 2024,” RBI said in a statement.