Latest news with #slice
Mint
15 hours ago
- Business
- Mint
slice launches first UPI-powered bank branch in Bengaluru
Fintech company slice has rolled out slice UPI credit card and UPI-powered physical bank branch and ATM which accepts cash in Koramangala, Bengaluru. The slice UPI credit card charges no joining or annual fee. It delivers an effortless credit experience that feels as natural as any UPI transaction. Users can simply scan QR codes or make UPI payments, drawing effortlessly from their credit line. The slice UPI credit card rewards customers up to 3 per cent cashback on all spends while the innovative slice in 3 feature offers an instant ability to convert spends into three interest-free instalments. The slice super card advances slice's ambitious vision of democratising formal credit access across India. UPI has revolutionised digital payments for more than 400 million Indians, making most of them credit-eligible in the process. 'In my 40 years of banking, I have witnessed several milestones, but I feel truly proud to be part of what I see as a revolution in how India will perceive banking and finance,' said Satish Kumar Kalra, MD and CEO of slice. 'We are reimagining banking from first principles, building a system where technology, simplicity, and trust come together to serve every Indian. Credit on UPI will be the next big leap for credit access and inclusion in this country, and there is no better way to achieve it than by integrating the entire banking system around it. This is just the beginning of a journey that will redefine banking as we know it.' Unlike much of the fintech industry that relies on third-party banking partners, slice operates as a bank, owning every element of its infrastructure - from core banking systems to advanced underwriting capability. With deep roots in the Northeast, this step into Bengaluru marks a defining moment in the bank's journey toward physical expansion across India and its broader growth story. He adds: 'The real opportunity is to deliver the right form of credit at the point of sale, through a mobile interface, for 300 million customers. Tens of millions of these merchants have never accepted credit cards before, so we must solve fraud at scale while also enabling credit for those who are truly creditworthy. And with slice UPI ATMs we want to reduce the cost of deposit and withdrawal of cash to a level that basic banking services are economically viable for a billion Indians in the future.' The new slice UPI-powered bank branch in Koramangala, Bengaluru, transforms banking from a necessity into an experience. slice customers can now walk into the first digital bank branch to experience unprecedented convenience, speed and ease of access. Customers can make withdrawals as well as deposits to and from the UPI ATM, open accounts and explore other banking products from kiosks. The slice UPI-first digital bank branch delivers complete UPI integration across every customer interaction, instant customer onboarding with streamlined processes, self-service digital experiences that prioritise efficiency and UPI ATM services for cash deposits and withdrawals. Disclaimer: Mint has a tie-up with fintechs for providing credit, you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit score. Mint does not promote or encourage taking credit as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit. Visit here for all personal finance updates
Business Standard
2 days ago
- Business
- Business Standard
slice launches flagship credit card and India's first UPI-Powered Bank Branch
PRNewswire Bengaluru (Karnataka) [India], July 1: slice, which aims to bring banking to every Indian, today launched the slice UPI credit card, a breakthrough credit card designed to transform how India accesses credit. Expanding this vision, slice opened India's first UPI-powered physical bank branch and ATM, pioneering an entirely new banking experience built around simplicity and speed. * Introducing breakthrough UPI credit card, the slice super card * Reimagining banking experience by bringing digital elegance to a physical location * Unveiling the UPI ATM that accepts cash deposits The slice UPI credit card, which charges no joining or annual fee, is designed to be the best credit card for everyone. It delivers an effortless credit experience that feels as natural as any UPI transaction. Users simply scan QR codes or make UPI payments, drawing effortlessly from their credit line. The slice UPI credit card rewards customers up to 3% cashback on all spends while the innovative slice in 3 feature offers an instant ability to convert spends into three interest-free instalments. The slice super card advances slice's ambitious vision of democratizing formal credit access across India. UPI has revolutionized digital payments for more than 400 million Indians, making most of them credit-eligible in the process. Yet more than 200 million of these users remain underserved, forcing them to seek credit on unfavourable terms that ultimately limit their financial potential. "In my 40 years of banking, I have witnessed several milestones, but I feel truly proud to be part of what I see as a revolution in how India will perceive banking and finance," said Satish Kumar Kalra, MD & CEO of slice. "We are reimagining banking from first principles, building a system where technology, simplicity, and trust come together to serve every Indian. Credit on UPI will be the next big leap for credit access and inclusion in this country, and there is no better way to achieve it than by integrating the entire banking system around it. This is just the beginning of a journey that will redefine banking as we know it." slice, which recently merged with NESFB, is uniquely positioned in the market. Unlike much of the fintech industry that relies on third-party banking partners, slice operates as a bank, owning every element of its infrastructure -- from core banking systems to advanced underwriting capability. With deep roots in the Northeast, this step into Bengaluru marks a defining moment in the bank's journey toward physical expansion across India and its broader growth story. "Credit on UPI is going to be the natural next step for how India spends," said Rajan Bajaj, Founder and Executive Director of slice. "The credit card is a 75-year-old product, but in India it must be reimagined, with UPI as the catalyst, to truly realise its potential. If we want to make UPI credit cards meaningful, we must focus on getting the credit part right. It cannot just be a digital layer on top of a traditional credit card." He adds: "The real opportunity is to deliver the right form of credit at the point of sale, through a mobile interface, for 300 million customers. Tens of millions of these merchants have never accepted credit cards before, so we must solve fraud at scale while also enabling credit for those who are truly creditworthy. And with slice UPI ATMs we want to reduce the cost of deposit and withdrawal of cash to a level that basic banking services are economically viable for a billion Indians in the future." The Future of Banking, Starts Today The new slice UPI-powered bank branch in Koramangala, Bengaluru, transforms banking from a necessity into an experience. slice customers can now walk into the first digital bank branch to experience unprecedented convenience, speed and ease of access. Customers can make withdrawals as well as deposits to and from the UPI ATM, open accounts and explore other banking products from kiosks. The slice UPI-first digital bank branch delivers: * Complete UPI integration across every customer interaction * Instant customer onboarding with streamlined processes * Self-service digital experiences that prioritize efficiency * UPI ATM services for seamless cash deposits and withdrawals Together, these innovations represent slice's boldest move to shape a banking future that is digitally native, built around UPI's inclusiveness and universal accessibility. About slice: slice is on a mission to build India's most loved bank. It is reimagining consumer banking in India with simple, transparent, and technology-driven products. Following its merger with North East Small Finance Bank, slice operates as a full-stack bank, offering the slice savings account, slice fixed deposits, slice UPI, slice borrow, the slice UPI credit card and India's first UPI-led bank branch. slice's mission is to make banking faster, fairer, accessible and easier for every Indian. slice is backed by marquee global investors such as Tiger Global, Insight Partners, Advent International, Blume Ventures, and Gunosy Capital.
Time of India
22-05-2025
- Business
- Time of India
This bank has changed its name: Will its cheque book, passbook, card and IFSC code still work?
The Reserve Bank of India (RBI) issued a notification on May 21, 2025, announcing the change of the name for North East Small Finance Bank Limited to ' slice Small Finance Bank Limited ' in the Second Schedule of the Reserve Bank of India Act, 1934. "We're on a journey to build India's most loved bank. Our mission is to value people's time and money in the products we build so more people can experience banking that truly works for them. he bank will continue to operate under the brand name of slice, and we are in the process of informing all stakeholders, especially customers, about this change to ensure a smooth and seamless transition. We're now expanding nationwide, while keeping our Northeast roots central to who we are," says a spokesperson from slice. Private vs public bank locker charges 2025: Who is offering lockers at lowest rental? But what does this mean for customers? The name change raises several questions in the minds of account holders-whether they need to get new passbooks or cheque books, whether their debit cards will still work, or if IFSC codes will change. What happens to your current cheque book, passbooks? According to RBI guidelines , in the event of a name change by a bank, customers can continue using their current banking instruments , such as passbooks, debit cards, and cheque books, without any interruption-unless explicitly directed otherwise by the bank. Similarly, IFSC codes typically remain unchanged unless separately notified. The transition is expected to be gradual and fully guided, ensuring zero disruption to customer services. Live Events Post Office account death claim rules: How to claim money from post office after account holder's death with or without nomination Vishal Gehrana, Partner Designate at Karanjawala & Co. and Advocate-on-Record, Supreme Court of India, says, "A change in the name of a bank, such as from 'North East Small Finance Bank Limited' to 'Slice Small Finance Bank Limited', does not by itself require customers to immediately obtain new passbooks, cheque books, or debit cards. According to standard banking practice and RBI guidelines, all existing instruments that bear the old name remain valid and can be used as usual unless the bank specifically instructs customers otherwise." Kinjal Champaneria, Partner at Solomon & Co, says, "Consequent to the change in name of the bank, it is common for items, such as passbooks, cheque books, debit cards, and other banking materials, to be updated with the new name, logo, and branding. However, the bank will officially communicate to the customers regarding the issuance of new banking materials. Adhil Shetty, CEO of says, "Any time a bank is amalgamated into a new entity, the bank will reissue an updated passbook, cheque book, and, if needed, account numbers as well. This is a structured process that takes months, sometimes as much as a year." "Banks are required to inform their customers about the name change and any related procedural updates. If the bank decides to issue new materials with the updated name, it will typically do so over a transition period and provide clear instructions. Until then, customers can continue to use their current passbooks, cheque books, and debit cards without any legal or operational issues," says Gehrana. "The customers will be updated regularly and will be informed about the update. The bank will also provide customers with a certain period, usually six months, where they can continue to use their older passbook and cheque book even after the transition process is completed. So, customers have enough time to get used to the change and get new passbooks and other details," says Shetty. This transition may take some time, as the bank will need to manage the replacement process and logistics. Customers will be notified by the bank regarding when they can expect to receive their new passbook, cheque book, debit card, etc. For any clarification or assistance, it is advisable that customers reach out to their local branch or the bank's customer support. Unless otherwise notified by the bank, the existing passbooks, cheque books, and debit cards are likely to remain valid and fully functional for all banking transactions. In short, unless you receive direct communication from the bank asking you to replace your banking instruments, you do not need to take any action. The change in the name of the bank does not affect the validity of your existing documents. What happens to the current IFS codes of the bank? Gehrana says, "The IFSC (Indian Financial System Code) is a unique identifier for bank branches used in electronic payment systems like NEFT, RTGS, and IMPS. While the code often includes an abbreviation of the bank's name, a change in the bank's name does not automatically result in a change to the IFSC code. If the bank or RBI decides to update the IFSC codes to reflect the new name, this will be done in a phased and well-communicated manner. Customers will be notified in advance, and the transition will be managed to ensure that there is no disruption to banking services. During any such transition, payments made using the old IFSC code are typically redirected to the correct branch, and online banking systems are updated automatically. Therefore, customers do not need to worry about failed transactions or immediate changes to their banking details. Any change to the IFSC code will be clearly communicated, and sufficient time will be given to adapt." Kinjal Champaneria, Partner at Solomon & Co, says, "Regarding the IFSC code, it will change eventually. However, customers will be informed officially by the bank before any changes take effect. Until then, existing IFSC codes are likely to remain valid for all transactions."
