Rajiv Bajaj, managing director and CEO of Bajaj Auto, has decided not to seek re-election to the board of Bajaj Finserv at the annual general meeting scheduled for July 31, 2026. This move follows his earlier announcement to step down from the Bajaj Finance board, reflecting his increasing responsibilities at Bajaj Auto and its subsidiaries.
Rajiv Bajaj's decision comes in light of his growing commitments at Bajaj Auto, particularly following the establishment of Bajaj Auto Technology and Bajaj Auto Credit Ltd (BACL), as well as the recent acquisition of KTM. Bajaj Auto Credit, the group's captive financing arm for two- and three-wheelers, has seen its portfolio grow from ₹726 crore in March 2024 to ₹16,947 crore by December 2025.
The back-to-back announcements from Bajaj Finance and Bajaj Finserv highlight the distinct roles that Rajiv and his brother Sanjiv Bajaj have carved out within the Bajaj Group. While Rajiv focuses on expanding Bajaj Auto's global footprint, Sanjiv has built Bajaj Finserv into a leading non-banking financial company in India, with Bajaj Finance alone boasting a market capitalisation of ₹5.5 lakh crore.
The formal division of responsibilities between the two brothers is becoming more apparent with Rajiv's exit from the financial services boards. Insiders note that the rapid scale-up of Bajaj Auto Credit, incorporated in 2021, has been central to Rajiv's increasing workload.
The transition of the auto lending business from Bajaj Finance to Bajaj Auto Credit was completed in December 2024, marking a significant shift in the group's operational dynamics.
Background
The Bajaj Group's strategic realignment underscores the evolving landscape of its business operations. As Rajiv Bajaj steps back from his roles in the financial services arm, the focus will be on how Bajaj Auto continues to leverage its recent acquisitions and expansions to drive growth.
The Bajaj Group's strategic realignment underscores the evolving landscape of its business operations. As Rajiv Bajaj steps back from his roles in the financial services arm, the focus will be on how Bajaj Auto continues to leverage its recent acquisitions and expansions to drive growth.
