Fincare Small Finance Bank merge with AU Small Finance Bank

Fincare Small Finance Bank merge with AU Small Finance Bank

Dear Aspirants, EducationBro is here with a Daily Current Affairs Dose. In this session, we will make the candidates aware of the daily current affairs topics, which will improve their general awareness, while also taking care that the candidates should not have any shortage of trending current affairs related to any country and abroad. Today’s Current Affairs topic is Fincare Small Finance Bank merge with AU Small Finance Bank.

Our Daily Current Affairs Dose 2024 will help you to crack the General Awareness section of Banking Insurance SSC Railway UPSC and all government jobs exams.

Fincare Small Finance Bank merge with AU Small Finance Bank

The Competition Commission of India (CCI) has approved the merger of Fincare Small Finance Bank Limited and AU Small Finance Bank Limited (AU).

The Proposed Combination involves the merger of Fincare and AU, with AU being the surviving entity (merged entity). The shareholders of Fincare will be allotted shares in the merged entity, post the Proposed Combination.

Read Also: Cabinet approves India-Oman MoU on cooperation in Information Technology

About AU Small Finance Bank

AU is a banking company which provides personal and commercial banking services (including provision of deposits, loans and advances, debit and credit card services, institutional banking and digital banking services). 

AU is also licensed to transact business under AD-II bank category (foreign exchange). AU is also engaged in provision of ancillary functions such as distribution of insurance and investment products such as mutual funds, and portfolio management services.

About Fincare

Fincare is a banking company and provides deposit services (such as savings account, current account, fixed deposits, recurring deposits), lending services (including retail and microfinance loans), and digital banking services. Fincare also provides certain miscellaneous services such as distribution of insurance products.

Static Current Affairs related to AU Small Finance Bank for upcoming exams

• Formation: 1996
• Headquarters: Jaipur, Rajasthan (registered office) & BKC, Mumbai (corporate office)
• Chairman: Raj Vikash Verma
• MD & CEO: Sanjay Agarwal