Rajiv Bajaj to Step Down from Bajaj Finance Board
Rajiv Bajaj has opted to resign from his position on the board of Bajaj Finance, having chosen not to pursue reappointment at the company's forthcoming annual general meeting set to occur on July 30, 2026.
In a formal disclosure, the corporation announced that Bajaj has notified the board regarding his decision not to pursue reappointment.
Consequently, he will no longer serve as a non-executive director following the conclusion of the Annual General Meeting (AGM).
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During a meeting, the board formally recognized his contributions and documented its gratitude for his lengthy affiliation with the company.
Rajiv, who presently holds the position of Managing Director at Bajaj Auto, has been associated with the extensive Bajaj Group for more than thirty years. Throughout his career, he has acquired experience across a range of roles such as manufacturing, engineering, R&D, supply chain management, and marketing.
Throughout the years, he has been instrumental in formulating business strategies and broadening the group's international presence, garnering acclaim for fostering innovation and growth.
Alongside his position at Bajaj Auto, Rajiv serves on the boards of multiple affiliated companies, including Bajaj Holdings & Investment Ltd, Bajaj Auto Credit Ltd, Bajaj Auto Technology Ltd, Bajaj Sevashram Pvt Ltd, Kamalnayan Investment & Trading Pvt Ltd, and Rupa Equities Pvt Ltd.
Bajaj Finance anticipates that the advantages of its investments in artificial intelligence will become evident to both its employees and customers within this fiscal year, according to Rajeev Jain, the Vice-Chairman and Managing Director.
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At the conclusion of March, the company employed 203 individuals within its AI division and has outlined a strategy to increase this figure to 363 by the fiscal year 2027. The company experienced significant advancements subsequent to implementing AI technology.
For example, in the year 2025, Bajaj Finance reported processing 600,000 loans in a single day during the peak of the Diwali season. Prior to the adoption of AI, the company stated it was capable of handling merely 100,000 loans per day. Jain noted that the quarter was robust across all major indicators.
Bajaj Finance's consolidated assets under management (AUM) surpassed Rs.5 trillion, reaching Rs.5.09 trillion. The company reported a net profit of Rs.5,553 crore in the fourth quarter of FY26, an increase from Rs.4,546 crore in the same period of the previous fiscal year, FY25.
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Simultaneously, the company anticipates robust expansion in its gold loan portfolio in the forthcoming period. The portfolio saw a 115 percent year-over-year increase, reaching Rs.17,831 crore, which represents 3.5 percent of Bajaj Finance's overall loan composition. The financial institution projects this figure to exceed five percent of the total loan portfolio by the fiscal year 2027.