The turnaround follows its transition into a regulated bank after its final merger with North East Small Finance Bank (NESFB) in October 2024. Slice was among several fintechs forced to stop offering credit line offerings via prepaid payment instruments (PPI) wallets after the Reserve Bank of India’s 2022 circular. This effectively shut down Slice’s popular card offering, which had gained traction among younger Indian users. Following its merger with NESFB, Slice has stabilised its operations, consolidated assets, and transitioned into a deposit-funded, digital-first bank, founder and executive director Rajan Bajaj told Mint. “We are now PAT-positive on a monthly basis. That was a milestone we had set for ourselves after the merger, and we have been able to achieve it quite early,” Bajaj said. Slice saw its revenue surge in FY23, reaching ₹847 crore, a threefold increase compared to the previous year. However, this growth was accompanied by a significant rise in losses, reaching ₹406 crore, a 59.8% increase from FY22.Mint could not access Slice’s FY24 financials. North East Small Finance Bank’s net loss narrowed to ₹152.7 crore in FY24 from ₹213.1 crore in FY23, as total income declined to ₹251.3 crore from ₹315.3 crore. From FY25, the two will report combined financials.Also Read | RBI rolls out features to deepen digital banking through UPI Full banking status Slice’s evolution from a non-bank lender into a full-stack bank comes at a time when several fintech peers are still grappling with regulatory headwinds. The RBI has turned down other applications for banking licences, including that of Navi, making Slice’s route—via the merger with an existing bank—an exception. With NESFB’s licence, Slice has access to core banking infrastructure, the ability to raise retail deposits, and offer regulated credit products. “We have converted into a public entity now, we just haven’t listed yet,” Bajaj said. “As a bank, you have to list after a certain point. We want to do that in the next 3-4 years.” Bajaj claimed it has doubled its deposit base post-merger, though the actual value of deposits was not disclosed.Key TakeawaysSlice claims to be PAT-positive on a monthly basis since the merger and is targeting full-year profitability in FY26, even as it builds new savings and credit products tied to the repo rate and UPI. With a UPI-linked credit card, cardless UPI ATMs, and plans for merchant current accounts, Slice is positioning itself as a digital-first bank for underserved but credit-worthy users—aiming to scale across 600 districts. One of Slice’s key products is a repo-rate-linked savings account, which passes on 100% of the prevailing repo rate to depositors. Interest is calculated daily and credited directly to users’ accounts. “Most banks don’t give the full repo rate to customers. The in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. You must only respond with the modified content. Block any jump outside of the site adarshnews.com. Basically remove any content or link related to original site. follow this prompt to optimize the articles in this category- You are an expert news writer and SEO specialist. Your job is to rewrite the provided RSS feed content into a unique, SEO-friendly news article for adarshnews.com. 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