Bajaj Finserv Limited, one of India’s leading financial services companies, has announced the appointment of Shri Rajeev Jain as an Additional Director (Non-executive) of the company. The Board of Directors approved this appointment during their meeting on 21 March 2025, following the recommendation of the Nomination and Remuneration Committee. The appointment will be effective from 1 April 2025, subject to the approval of the company’s members.

Director Appointment Details

This appointment of Rajeev Jain aligns with Bajaj Finserv’s commitment to strengthening its leadership team. As an Additional Director (Non-executive), Rajeev will also be liable to retire by rotation. This means that, after his appointment, he will stand for re-election at the company’s annual general meeting, ensuring shareholder engagement and governance transparency.

Furthermore, the company has confirmed that Rajeev Jain has not been debarred from holding the office of director by any regulatory authority, including SEBI, as per the disclosure received. Therefore, his appointment complies fully with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Profile of Rajeev Jain

Rajeev Jain, an industry veteran with nearly three decades of experience in managing diverse consumer lending businesses, will bring invaluable expertise to the Bajaj Finserv board. Rajeev joined the Bajaj Finserv Group in 2007 as the Chief Executive Officer of Bajaj Finance Ltd and was promoted to Managing Director in 2015. Under his leadership, Bajaj Finance has transformed from a single-product auto finance company to a leading technology-driven financial powerhouse.

Rajeev Jain’s strategic vision has been instrumental in driving digital transformation and expanding the company’s product offerings. His leadership has allowed Bajaj Finance to provide a full spectrum of loan products, payments, and investment services to both consumers and businesses. The company has also expanded access to finance for millions of new-to-credit customers.

In addition to his role at Bajaj Finserv, Rajeev serves as Vice-Chairman of Bajaj Housing Finance Ltd., contributing to the strategic direction of the company. His wide-ranging experience also includes senior leadership roles at GE, American Express, and American International Group (AIG), where he led the consumer lending business. Rajeev’s innovative mindset and ability to harness emerging digital technologies have significantly contributed to the company’s growth and transformation.

Career Achievements and Qualifications

Rajeev Jain’s extensive career includes strategic leadership roles in several prestigious companies. At AIG, he was the Deputy CEO of their consumer lending division and played a crucial role in shaping the company's entry into India. His diverse experience spans auto loans, durable loans, personal loans, and credit cards.

Rajeev holds a management degree from the T. A. Pai Management Institute in Manipal and a bachelor’s degree in commerce from American College, Madurai.

Confirmation of Director’s Status

In accordance with the SEBI regulations, Bajaj Finserv also confirmed that Rajeev Jain is not disqualified from being appointed as a director and has not been debarred by SEBI or any other authority. This ensures his eligibility for the role.

Annexures

Along with the announcement, Bajaj Finserv has provided a detailed Annexure A with the required disclosures regarding the appointment and a brief profile of Rajeev Jain in Annexure B.

Board Meeting and Corporate Relations

The Board Meeting on 21 March 2025 commenced at 11:30 AM and concluded at 1:15 PM. The company has notified both the BSE Limited and the National Stock Exchange of India Ltd (NSE) regarding this appointment. The stock codes for Bajaj Finserv are BSE: 532978 and NSE: BAJAJFINSV.

Bajaj Finserv continues to strengthen its leadership team and corporate governance with this significant appointment, as part of its long-term growth and transformation strategy.

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