Guwahati-headquartered Slice Small Finance Financial institution has appointed its founder, Rajan Bajaj, as Managing Director and CEO, following approvals from the shareholders and the Reserve Financial institution of India (RBI).

The appointment marks a management transition on the lender, which was fashioned in 2024 via the merger of Bengaluru-based fintech Slice and Guwahati-based North East Small Finance Financial institution. The RBI had earlier authorised the appointment of former Andhra Financial institution govt Satish Kumar Kalra as CEO in 2023. After the merger, Bajaj was appointed Govt Director of the newly fashioned entity.

With the newest approval, Bajaj will now lead the financial institution in its subsequent section as a regulated small finance financial institution with a digital-first technique.

Based in 2016 by Bajaj, an IIT Kharagpur alumnus, Slice started as a shopper fintech startup centered on younger customers. Over time, it constructed lending distribution and funds companies below GIPL. In 2018, Bajaj additionally established Quadrillion Finance, QFPL, an entirely owned NBFC of GIPL, which prolonged credit score to retail prospects and small companies utilizing technology-led underwriting and threat processes. QFPL was worthwhile and, together with GIPL, later merged into the banking entity.

The corporate has raised over $250 million from traders together with Tiger World Administration, Perception Companions and Creation Worldwide.

Commenting on his appointment, Bajaj stated, “I’m grateful to the Reserve Financial institution of India and our Board for the boldness they’ve positioned in me. Extra folks want banking in India at present than at any level in our nation’s historical past. The digital infrastructure to serve them properly and at a fraction of the standard value now exists. And for the primary time, know-how makes it doable to supply each buyer the form of monetary merchandise that till lately had been solely out there to the wealthiest few”.

“AI is now reaching the purpose the place it will possibly make banking genuinely private at scale, by understanding what every buyer wants, and making advanced monetary choices easy. We’re constructing with that future in thoughts, and we expect we’re nonetheless very early in what is feasible,” he added.

Slice Small Finance Financial institution provides slice financial savings account, slice fastened deposits, slice UPI, slice borrow, the slice UPI bank card, and what it describes as India’s first UPI-led financial institution department.