Bajaj Finance's Rajeev Jain given six months to develop succession plan after leadership change

The Bajaj Finance board has given vice chairman and managing director Rajeev Jain six months to come up with a detailed succession planning process, after the sudden departure of Anup Saha from the leadership position of the company. However, the name of the new MD will only be announced by the end of the fiscal ended March 2028, Jain told analysts in a post results call.

“Every incident has learnings and there is also a course correction. This issue was discussed extensively in the board meeting. The plan is that I will go back to the board in six months with a detailed succession planning process,” Jain said.

Jain however said there will be no change in the corporate structure and the name of the new MD will only be known “closer to March 2028,” which is the time till when he has the reins. This is unlike how Saha was groomed by first being appointed as an executive director for five years from April 2023 and later redesignated as deputy managing director from April 2024.


Jain did not elaborate on Saha’s reasons for leaving just three months after his appointment as MD. Saha is rumoured to be one of the contenders to take over as CEO at the beleaguered IndusInd Bank.