AU Small Finance Bank’s board has cleared a merger with Fincare Small Finance Bank, setting up the first merger in the small finance bank space in India.
“The Board of Directors of AU Small Finance Bank Ltd, at its meeting held today on October 29, 2023 has considered and approved the scheme of amalgamation (Scheme) for the amalgamation of Fincare Small Finance Bank Ltd (Transferor Company) into and with AU Small Finance Bank Ltd (Transferee Company),” Au Small Finance Bank said in an exchange filing late Sunday.
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