In a significant leadership transition, fintech-turned-bank Slice has officially appointed its founder, Rajan Bajaj, as Managing Director and Chief Executive Officer. The move follows formal approval from the Reserve Bank of India (RBI), the company’s board, and its shareholders.
Bajaj, who previously held the role of Executive Director, has been the driving force behind the company’s evolution from a 2016 startup into a fully regulated banking entity.
From Fintech Startup to Full-Stack Bank
The leadership appointment marks a new chapter for Slice after its high-profile merger with North East Small Finance Bank in 2024. Under Bajaj’s direction, the company has scaled rapidly:
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User Base: Over 20 million registered users.
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Workforce: More than 3,000 employees.
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Funding: $250 million+ raised from marquee investors like Tiger Global, Insight Partners, and Advent International.
Bajaj was instrumental in building the company’s lending and payments infrastructure through GIPL and establishing Quadrillion Finance (QFPL), a profitable NBFC that was eventually integrated into Slice’s banking operations.
Strong Financial Footprint
Since pivoting to full banking operations, Slice has maintained a trajectory of growth and stability:
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Profitability: Reported a Profit After Tax (PAT) of Rs 27.97 crore over the first three quarters of FY26.
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Adoption: More than 4 million savings accounts opened within the first year of banking operations.
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Asset Quality: Remained stable due to proprietary in-house risk infrastructure and disciplined underwriting.
A Vision for Digital Inclusion
Reflecting on his new role, Bajaj emphasized the role of technology in democratizing financial services.
“More people need banking in India today than at any point in our country’s history,” Bajaj stated. “For the first time, technology makes it possible to offer every customer the kind of financial products that until recently were only available to the wealthiest few.”
Today, Slice operates a comprehensive suite of digital-first products, including UPI-led bank branches, fixed deposits, and the slice UPI credit card, positioning itself as a “full-stack” competitor in India’s evolving banking landscape.
By: Sandhya Bharti
