We wish to inform that the Board of Directors (Board) of AU Small Finance Bank Limited (AUSFB) at its meeting held today i.e. on April 1, 2024 has taken on record the approval received from the Reserve Bank of India (RBI) for the Amalgamation of Fincare Small Finance Bank Limited (Fincare SFB) into and with AUSFB with effect from April 01, 2024 (Effective Date) and declared the effectiveness of the Amalgamation Scheme.
Please refer attachment for details.
Further, press release titled 'AU Small Finance Bank and Fincare SFB merger effective April 1, 2024, marking the completion of the first M&A among Small Finance Banks' is attached as Annexure II.
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