After Bajaj Finance, Rajiv Bajaj to step down from Bajaj Finserv Board

Bajaj Finserv Ltd on Tuesday informed exchanges that Rajiv Bajaj will step down from the company's Board as a non-executive director and will not seek re-election at the upcoming annual general meeting (AGM) scheduled for July 31, 2026.

The financial services company said Bajaj's decision comes amid increased responsibilities at Bajaj Auto Ltd, including the establishment of Bajaj Auto Technology Ltd and Bajaj Auto Credit Ltd, as well as the recent acquisition of KTM.

"Shri Rajiv Bajaj (DIN: 00018262), non-executive director, has informed the Company that with additional responsibilities at Bajaj Auto Ltd. in recent times, owing to the setting up of Bajaj Auto Technology Ltd. and Bajaj Auto Credit Ltd. as well as the recent acquisition of KTM, he desires to reduce his other commitments," Bajaj Finserv stated.

"Accordingly, he has expressed his intention to step down from the Board and has not offered himself for re-election at the ensuing annual general meeting scheduled to be held on Friday, July 31, 2026 (AGM). He will cease to be a Director of the Company upon retirement by rotation at the said AGM," it added.

"The Board of Directors took note of the above and placed on record its gratitude and appreciation for the valuable contribution of Shri Rajiv Bajaj during his long association with the Company," Bajaj Finserv further stated.

The development follows a similar announcement by Bajaj Finance Ltd earlier this year. In an exchange filing dated April 29, 2026, the non-banking financial company 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.

"This is to inform you that Shri Rajiv Bajaj, has expressed his willingness to step down from the Company. He has informed that he will not be offering himself for re-election at the ensuing annual general meeting. Accordingly, he will cease to be Non-Executive Director of the Company at the ensuing annual general meeting scheduled to be held on Thursday, July 30, 2026 (close of business hours)," Bajaj Finance had stated.

Meanwhile, shares of Bajaj Finserv were trading 1.01 per cent higher at Rs 1,687.70 in late-morning deals. Bajaj Finance shares were also up 0.77 per cent at Rs 877.60.