AU Small Finance Bank has received an approval from Competition Commission of India (CCI) in relation to the proposed scheme of Amalgamation of Fincare Small Finance Bank into and with AU Small Finance Bank (Scheme/Combination). The CCI in its meeting held on January 23, 2024, considered and approved the proposed Combination.
The Scheme remains subject to receipt of the approval of Reserve Bank of India. Earlier, the shareholders of AU Small Finance Bank had approved the Scheme of Amalgamation of Fincare Small Finance Bank into and with AU Small Finance Bank.
AU Small Finance Bank is a small finance bank (SFB) that has recently transitioned from a prominent, retail focused nonbanking finance company (NBFC), which primarily served low and middle-income individuals and businesses that have limited or no access to formal banking and finance channels.
