RBI Approves Rajan Bajaj as MD and CEO of Slice

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.