Rajiv Bajaj to exit Board of Bajaj Finserv too

Listen to this article in summarized format 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. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price