Question

    What is the effective date of the amalgamation of Fincare Small Finance Bank Ltd. with AU Small Finance Bank, as approved by the Reserve Bank of India?

    A March 31, 2024 Correct Answer Incorrect Answer
    B April 01, 2024 Correct Answer Incorrect Answer
    C May 01, 2024 Correct Answer Incorrect Answer
    D June 30, 2024 Correct Answer Incorrect Answer
    E July 01, 2024 Correct Answer Incorrect Answer

    Solution

    • The Reserve Bank of India has sanctioned the Scheme of Amalgamation of Fincare Small Finance Bank Ltd. (Transferor Bank) with AU Small Finance Bank Ltd. (Transferee Bank).  • The effective date of the amalgamation shall be April 01, 2024. • All the branches of Fincare Small Finance Bank Ltd. will function as branches of AU Small Finance Bank Ltd. with effect from April 01, 2024.

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