RBI Approves Rajan Bajaj as MD and CEO of Slice
•February 16, 2026
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Companies Mentioned
Why It Matters
Bajaj’s elevation reinforces Slice’s credibility as a full‑stack digital bank, accelerating its push for financial inclusion in India’s underserved market. The RBI endorsement signals regulatory confidence, encouraging further fintech‑bank convergence.
Key Takeaways
- •Rajan Bajaj becomes Slice MD & CEO.
- •RBI approval solidifies Slice’s banking status.
- •Over 20M users, 4M savings accounts opened.
- •FY26 PAT Rs 27.97 crore, stable asset quality.
- •Full‑stack bank offers first UPI‑led branch.
Pulse Analysis
Rajan Bajaj’s promotion to Managing Director and CEO marks a pivotal moment for Slice, a fintech that has rapidly transformed into a full‑stack bank. The Reserve Bank of India’s approval not only validates the leadership transition but also underscores the regulator’s willingness to endorse innovative banking models. Bajaj’s deep experience—from founding Slice in 2016 to orchestrating its merger with North East Small Finance Bank—positions the company to leverage its technology‑driven underwriting and risk infrastructure at scale.
Slice’s growth trajectory illustrates the broader shift in India’s financial services landscape. With more than 20 million registered users and a workforce exceeding 3,000, the bank has demonstrated robust demand for digital products such as UPI‑based payments, savings accounts, and credit cards. Its recent financial results—Rs 27.97 crore PAT over the last three FY26 quarters and stable asset quality—highlight disciplined lending practices. The rapid onboarding of over 4 million savings accounts within a year of full banking operations signals strong consumer trust and adoption.
The appointment arrives as India grapples with a massive unmet banking need, especially among the unbanked and underbanked. Slice’s full‑stack approach, including India’s first UPI‑led branch, showcases how technology can lower costs and broaden product access beyond affluent segments. As traditional banks confront digital disruption, Slice’s model may set a benchmark for fintech‑bank hybrids, prompting competitors to accelerate their own digital transformation initiatives.
RBI approves Rajan Bajaj as MD and CEO of Slice
Fintech company Slice has announced the appointment of its founder, Rajan Bajaj, as Managing Director and Chief Executive Officer
Fintech company Slice has announced the appointment of its founder, Rajan Bajaj, as Managing Director and Chief Executive Officer. Bajaj previously served as Executive Director of the company.
The appointment has been approved by the Slice Board, shareholders and the Reserve Bank of India (RBI).
Bajaj founded Slice in 2016 and led the company from a consumer fintech startup into a regulated bank following its merger with North East Small Finance Bank in 2024. The company claims to have served more than 20 million registered users, employs over 3,000 people, and has raised over $250 million from prominent investors including Tiger Global, Insight Partners and Advent International.
Bajaj built Slice’s lending distribution and payments businesses under GIPL. In 2019, he also established Quadrillion Finance (QFPL), a wholly‑owned NBFC of GIPL that extended credit to retail customers and small businesses using technology‑led underwriting and efficient risk processes. QFPL was profitable and, along with GIPL, later merged into Slice’s banking entity.
Over the last three quarters of FY26, Slice reported a Profit After Tax of Rs 27.97 crore. Asset quality remains stable, supported by disciplined underwriting and in‑house risk infrastructure. Within one year of commencing full banking operations, more than 4 million savings accounts have been opened with it.
Commenting on the appointment, Bajaj said, “I am grateful to the Reserve Bank of India and our Board for the confidence they have placed in me. More people need banking in India today than at any point in our country's history. The digital infrastructure to serve them well and at a fraction of the traditional cost now exists. And 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”.
Slice operates as a full‑stack bank, offering solutions such as the Slice savings account, Slice fixed deposits, Slice UPI, Slice Borrow, the Slice UPI credit card, and India’s first UPI‑led bank branch.
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