Rajiv Bajaj, Managing Director and CEO of Bajaj Auto, has announced his decision to step down from the board of Bajaj Finserv, effective July 31, 2026. This move comes as he takes on additional responsibilities at Bajaj Auto, including the establishment of Bajaj Auto Technology and Bajaj Auto Credit Ltd, as well as managing the recent acquisition of KTM.
The decision follows a similar announcement by Bajaj Finance on April 29, 2026, where Rajiv Bajaj indicated he would not seek re-election at its AGM scheduled for July 30, 2026. This marks a formal division of responsibilities within the Bajaj Group, with Rajiv focusing on automotive ventures and Sanjiv Bajaj leading the financial services arm.
Rajiv Bajaj's increased workload is largely attributed to the rapid expansion of Bajaj Auto Credit, the group's financing arm for two- and three-wheelers. Since its incorporation in 2021, Bajaj Auto Credit has grown its portfolio to ₹16,947 crore as of December 2025, up from ₹726 crore in March 2024.
Sanjiv Bajaj has successfully built Bajaj Finserv into one of India's leading non-bank financial companies, with Bajaj Finance commanding a market capitalisation of ₹5.5 lakh crore. The strategic separation of roles between the Bajaj brothers underscores their distinct leadership paths within the group.
The Bajaj Group's strategic realignment is a significant development in the Indian corporate landscape, highlighting the evolving dynamics within family-run conglomerates.
Background
The Bajaj Group, a prominent Indian conglomerate, has seen significant growth and diversification under the leadership of the Bajaj brothers. Rajiv Bajaj's focus on automotive expansion and Sanjiv Bajaj's leadership in financial services have been pivotal in shaping the group's trajectory.
As Rajiv Bajaj steps back from board duties, the focus will be on how Bajaj Auto's new ventures, including the KTM acquisition, will unfold in the coming years.
