Rajiv Bajaj to step down from Bajaj Finserv board

Rajiv Bajaj, Non-Executive Director at Bajaj Finserv, will step down from the company's board later this year as he seeks to reduce external commitments amid growing responsibilities within the wider Bajaj Auto business.

The non-banking financial services company disclosed the development in a stock exchange filing on 9 June, stating that Bajaj has informed the company of his decision not to offer himself for re-election at the upcoming annual general meeting.

As a result, he will cease to be a director of the company upon retirement by rotation at the AGM scheduled for 31 July 2026.

Growing responsibilities drive decision

According to Bajaj Finserv, Rajiv Bajaj cited a significant expansion of responsibilities at Bajaj Auto Ltd. as the primary reason for stepping down from the board.

The company said the increased commitments stem from several strategic developments, including:

• The establishment of Bajaj Auto Technology Ltd.

• The creation of Bajaj Auto Credit Ltd.

• The recent acquisition of KTM

• Broader leadership responsibilities within Bajaj Auto

In its filing, Bajaj Finserv stated that Bajaj wished to reduce some of his other commitments in light of these developments.

Long-standing association comes to a close

The board acknowledged Bajaj's decision and recorded its appreciation for his contribution to the company.

In the filing, the company said the Board of Directors had taken note of his intention not to seek re-election and placed on record its gratitude for his service during his long association with the organisation.

The move marks another board-level change within the broader Bajaj Group.

Earlier this year, Bajaj Finance also announced that Rajiv Bajaj would step down from its board. In a filing dated 29 April, the company said he had expressed his willingness to relinquish his position and would cease to be a Non-Executive Director at its annual general meeting scheduled for 30 July 2026.

Market reaction remains steady

The announcement had little immediate impact on investor sentiment.

At around 11:50 am on 9 June, Bajaj Finserv shares were trading nearly 1% higher at ₹1,689 per share, according to market data cited alongside the company's disclosure.

The development was viewed as part of a broader realignment of leadership commitments rather than an operational or governance-related change.

Focus shifts to automotive expansion

Rajiv Bajaj has played a prominent role within the Bajaj Group and remains central to the strategic direction of Bajaj Auto. His decision to step away from board responsibilities at Bajaj Finserv follows a period of expansion across the automotive business, including investments in new technology and financial services ventures.

The move allows him to concentrate more closely on the group's evolving automotive strategy and recently added business responsibilities.

With the transition set to take effect at the end of July, attention will now turn to how Bajaj Finserv refreshes its board composition while Rajiv Bajaj continues to focus on growth initiatives across Bajaj Auto's expanding portfolio.