Rajiv Bajaj to exit Board of Bajaj Finserv too
Rajiv Bajaj is moving on from his role on the board of Bajaj Finserv, a transition that follows his earlier departure from Bajaj Finance. This change comes amidst growing demands in his responsibilities at Bajaj Auto, particularly with the integra...
By ET Bureau | Updated:
Agencies
Rajiv Bajaj, a non-executive director at Bajaj Finserv, has expressed his intention to step down from the company's board, citing increasing commitments at Bajaj Auto - marking the second such exit from a Bajaj Group financial services entity in quick succession.
In an exchange filing, Bajaj Finserv said Rajiv Bajaj had informed the company that with additional responsibilities at Bajaj Auto arising from the setting up of Bajaj Auto Technology and Bajaj Auto Credit Ltd (BACL), as well as the recent acquisition of KTM, he wished to reduce his other commitments. He has not offered himself for re-election at the company's annual general meeting scheduled for July 31, 2026, and will cease to be a director upon retirement by rotation at that AGM.
The development follows a similar announcement by Bajaj Finance on April 29, 2026. The non-banking financial company had said Rajiv Bajaj would step down from its board at the end of his current term and would not seek re-election at its AGM scheduled for July 30, 2026. The back-to-back exits reflect the increasingly distinct lanes the two Bajaj brothers have carved out within the broader Bajaj Group. Rajiv Bajaj, as managing director and CEO of Bajaj Auto, has anchored the group's automotive ambitions - most recently expanding its global footprint through the KTM acquisition.
Sanjiv Bajaj, as chairman and managing director of Bajaj Finserv, has built the financial services arm into one of India's most valuable non-bank franchises, with Bajaj Finance alone commanding a market capitalisation of ₹5.5 lakh crore. With Rajiv stepping back from both boards, the informal division of the group between the two brothers is being formalised.
Central to Rajiv Bajaj's growing workload is the rapid scale-up of Bajaj Auto Credit, the group's captive financing arm for two- and three-wheelers, insiders say. Incorporated in 2021, BACL took over the auto lending business previously housed under Bajaj Finance, with the transition completed in December 2024.
The portfolio has since grown at a remarkable pace reaching ₹16,947 crore as of December 2025, up from just ₹726 crore in March 2024.
In an exchange filing, Bajaj Finserv said Rajiv Bajaj had informed the company that with additional responsibilities at Bajaj Auto arising from the setting up of Bajaj Auto Technology and Bajaj Auto Credit Ltd (BACL), as well as the recent acquisition of KTM, he wished to reduce his other commitments. He has not offered himself for re-election at the company's annual general meeting scheduled for July 31, 2026, and will cease to be a director upon retirement by rotation at that AGM.
The development follows a similar announcement by Bajaj Finance on April 29, 2026. The non-banking financial company had said Rajiv Bajaj would step down from its board at the end of his current term and would not seek re-election at its AGM scheduled for July 30, 2026. The back-to-back exits reflect the increasingly distinct lanes the two Bajaj brothers have carved out within the broader Bajaj Group. Rajiv Bajaj, as managing director and CEO of Bajaj Auto, has anchored the group's automotive ambitions - most recently expanding its global footprint through the KTM acquisition.
Sanjiv Bajaj, as chairman and managing director of Bajaj Finserv, has built the financial services arm into one of India's most valuable non-bank franchises, with Bajaj Finance alone commanding a market capitalisation of ₹5.5 lakh crore. With Rajiv stepping back from both boards, the informal division of the group between the two brothers is being formalised.
Central to Rajiv Bajaj's growing workload is the rapid scale-up of Bajaj Auto Credit, the group's captive financing arm for two- and three-wheelers, insiders say. Incorporated in 2021, BACL took over the auto lending business previously housed under Bajaj Finance, with the transition completed in December 2024.
The portfolio has since grown at a remarkable pace reaching ₹16,947 crore as of December 2025, up from just ₹726 crore in March 2024.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
Related Articles
Rajiv Bajaj to step down from Bajaj Finserv board, cites growing responsibilities at Bajaj AutoADVERTISEMENT
