Rajiv Bajaj to step down from Bajaj Finserv board, cites growing responsibilities at Bajaj Auto

Rajiv Bajaj will step down as a non-executive director of Bajaj Finserv after deciding not to seek re-election at the company's annual general meeting scheduled for July 31, 2026, according to a filing on the exchanges by the financial services company on Tuesday.

Bajaj informed the company that increasing responsibilities at Bajaj Auto, including oversight of newly established businesses and the group's recent acquisition of KTM, have prompted him to reduce his external commitments.

He will cease to be a director upon retirement by rotation at the AGM.


The board of Bajaj Finserv took note of his decision and recorded its appreciation for his contribution during his long association with the company.

The move marks another board-level change involving the Bajaj group veteran. In April this year, Rajiv Bajaj had informed Bajaj Finance that he would not seek re-election as a non-executive director at the lender's AGM, ending a long stint on its board. The company had then acknowledged his contribution and placed on record its appreciation for his service.

Rajiv Bajaj continues to serve as managing director of Bajaj Auto and remains one of the key leaders within the Bajaj group. He has spent more than three decades with the company, overseeing its transformation into a global motorcycle and three-wheeler manufacturer.