He’ll take cost because the vice chairman within the capability as an government director for 3 years beginning April 1, a day after finishing his present time period because the managing director, the corporate stated in a regulatory submitting on Thursday.
Jain shall be changed by Anup Kumar Saha, at the moment the deputy managing director of the non-banking finance firm. Saha has been redesignated because the MD for 3 years beginning April 1, 2025. The appointments had been accepted by the board on Thursday.
An trade veteran with over three a long time of expertise, Jain joined because the chief government officer of Bajaj Finance in 2007 and subsequently grew to become the MD in 2015. He has been with Bajaj Finance for 18 years and largely credited with reworking the corporate to India’s largest shopper financier. He’s additionally on the board of Bajaj Housing Finance Restricted as its vice-chairman.
Promoter Sanjiv Bajaj will proceed to be chairman at Bajaj Finance.
Previous to Bajaj Finance, Rajeev labored with the erstwhile shopper finance enterprise of Normal Electrical, American Categorical and the American Worldwide Group (AIG), serving in numerous senior management roles. As Deputy CEO of the buyer lending enterprise at AIG, Rajeev constructed the strategic framework for AIG Client enterprise’s foray into India.The corporate’s newly appointed MD, Saha has been with Bajaj Finance since 2017. He has over three a long time of labor expertise, together with 25 years within the monetary providers trade together with a spent 14 yr stint at ICICI Financial institution, the place he additionally served on the board of the financial institution’s housing finance firm.