BOARD OF DIRECTORS
Late Rahul Bajaj
Rahul Bajaj, born on June 10, 1938, headed the Bajaj Group of companies. Group activities include manufacture and sale of motorised two, three, and four-wheeled vehicles, general and life insurance and investment and consumer finance, home appliances, electric lamps, wind energy, special alloy and stainless steel, material handling equipment and travel.
He was the recipient of many awards, including the third-highest civilian award Padma Bhushan, from the government of India and honorary doctorates from many universities. He had a BA (Honours) in Economics from Delhi University, a law degree from Mumbai University and an MBA from Harvard Business School.
As per February 2021, he was ranked at 421 on the Forbes list of the world’s billionaires with a net worth of USD 8.2 billion.
In his illustrious career across business and public life, he served as a member of the Rajya Sabha (the Upper House of Indian Parliament), the chairman of Indian Airlines and the chairman of the board of governors of the Indian Institute of Technology, Bombay. He was also a chairman of the International Business Council, World Economic Forum; a former member of the South Asia advisory board of Harvard Business School and a member of the International Advisory Council of the Brookings Institution in Washington, DC.
He spearheaded the CSR activities of the Bajaj Group of companies and charitable trusts including Jamnalal Bajaj Foundation.
He passed away in Pune, on February 12, 2022, at the age of 83. He was cremated with full state honours in the presence of industry leaders, politicians and the common man, who bid adieu to one of the finest industrialists of modern India.
Sanjiv Bajaj is the Chairman of Bajaj Finance Limited and Chairman and Managing Director of Bajaj Finserv Limited, the holding company of the financial services businesses of the Bajaj Group, one of India’s oldest and largest conglomerates, with 9M consolidated revenue of over ₹ 58,447 crore ($ 7.14 billion)* and consolidated profit after tax of over ₹ 4,648 crore ($ 568 million)* for FY2022-23.
*US$ considered at INR 81.82 as on December 31, 2022.
Under his leadership, Bajaj Finserv Limited has emerged as one of India’s leading diversified financial services companies with solutions across lending, life insurance, general insurance, and wealth advisory categories. With a consumer-first, digital approach and a culture focused on excellence through innovative disruption, he has reshaped digital consumer financing in India.
Sanjiv is on the board of his group operating companies as the Chairman of Bajaj Finance Limited, Bajaj Housing Finance Limited, Maharashtra Scooters Limited, Bajaj Finserv Asset Management Company Limited and the two insurance subsidiaries, i.e., Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited. He is also the Managing Director of Bajaj Holdings and Investment Limited (since 2012) and serves as a non-executive director at Bajaj Auto Limited.
Sanjiv is the President of the Confederation of Indian Industry (CII) for 2022-23. He is a member of the Steering Committee appointed by the Government of India for B20 as part of India’s G20 Presidency FY 2022-23.
Sanjiv is an alumnus of the Harvard Business School, USA. A Member of the Board of the Indian School of Business (ISB), a Member of the International Advisory Board (IAB), Allianz SE and the International Technology Advisory Panel (ITAP) of Monetary Authority of Singapore (MAS) and the Regional Stewardship Board for India and South Asia 2019-2020 of the World Economic Forum. Over the years, he has been lauded with several prestigious honours for his contribution to the financial services space, including:
- AIMA’s Transformational Business Leader
- AIMA’s Entrepreneur of the year 2019
- Economic Times Business Leader of the year 2018
- Financial Express Best Banker of the year 2017
- Ernst & Young Entrepreneur of the year in 2017
- Transformational Leader award at the 5th Asia Business Responsibility Summit in 2017
- Business World’s Most Valuable CEOs in India for 2015 and 2016
He has a bachelor’s degree in mechanical engineering (first class with distinction) from the University of Pune, a master’s degree in manufacturing systems engineering (with distinction) from the University of Warwick, UK and a master’s degree in business administration (with distinction) from the Harvard Business School, USA. He lives in Pune, Maharashtra, with his wife, Shefali and their two children.
Rajeev Jain is the Managing Director of our Company. He is a management graduate and has more than 28 years of experience in the consumer lending industry. Rajeev has been associated with our Company for about a decade and a half. At Bajaj Finance Limited, Rajeev has charted an ambitious growth path for the Company.
The Company is at an inflexion point and owes its exponential growth from a captive finance company to the most diversified non-bank in India today. His cumulative experience at GE, American Express and AIG has helped him change the Company's course and put it on a high growth path. He has vast experience managing diverse consumer lending businesses viz. auto loans, durables loans, personal loans and credit cards.
Rajeev was earlier with American International Group as a Deputy CEO of its Consumer Finance business. At AIG, he was responsible for building the strategic framework for AIG Consumer business entry in India, creating a holding company, and acquiring two non-banking finance companies to establish an AIG base in the Indian market.
Before that, he was with American Express, where he spent about six years. During this period, he did various roles across various products like credit cards, personal and business loans etc. When he left American Express, he was the Head of Personal and Small Business Lending in India. Rajeev is a Management graduate from T A Pai Management Institute, Manipal, with a Bachelor’s Degree in Commerce.
Rajiv Bajaj, born on 21 December 1966, is a Non-Executive Director of our Company. He graduated first in class, with distinction, in Mechanical Engineering from the University of Pune in 1988. He then completed his masters in Manufacturing Systems Engineering, with distinction, from the University of Warwick in 1991.
He has since worked at Bajaj Auto Ltd. (Bajaj Auto) in the areas of Manufacturing and Supply Chain (1990-95), R&D and Engineering (1995-2000)and Marketing and Sales (2000-2005). He has been its Managing Director since April 2005.
His current priority is the application of the scientific principles of Homoeopathy to the task of building a brand centred strategy at Bajaj Auto to achieve its vision of being one of the world's leading motorcycle manufacturers.
He has won a number of awards and recognitions from various prestigious bodies and institutions for his Business Leadership, Entrepreneurship and Innovation.
D.J. Balaji Rao
D.J. Balaji Rao, born on 15 December 1939, is a Non-Executive and Independent Director of our Company. He holds a B.E. Degree in Mechanical Engineering from the University of Madras and is an Associate Member of the Indian Institution of Industrial Engineering (AMIIIE). He attended the advanced management programme at the European Institute of Business Administration (INSEAD) at Fontainebleau, France, in 1990.
He pursued his career as an Industrial Engineer for about 8 years before joining erstwhile ICICI Ltd. (Since its merger with ICICI Ban Ltd.) in 1970. After holding a wide range of responsibilities at various locations and positions, he reached the position of deputy managing director. He subsequently took over as the vice-chairman and managing Director of SCICI Ltd. in August 1996. With the merger of SCICI Ltd. with ICICI Ltd., he moved to Infrastructure Development Finance Co. Ltd. (IDFC) as its first Managing Director. He served till his superannuation in January 2000. He has served as the non-executive Chairman of 3M India Ltd. Between 2008 and 2014. He is on the boards of many leading companies.
Dr. Naushad Forbes
Naushad Forbes, born on 13 May 1960, is a Non-Executive and Independent Director of our Company. He is the Co-chairman of Forbes Marshall, India's leading process and energy efficiency company. He was an occasional lecturer and consulting professor at Stanford University from 1987 to 2004, where he developed courses on technology in newly industrialising countries. He received his Bachelor, Masters and PhD degrees from Stanford University.
He is on the board of several educational institutions and public companies and Chairman of the Centre for Technology, Innovation and Economic Research, Pune. He has long been an active member of CII and has, at various times, chaired the National Committees on Higher Education, Innovation, Technology and International Business. He was President of CII for 2016–17. He is a founding member of Nayanta University, a full service university opening in 2024, spearheaded by CII.
His book, The Struggle and the Promise: Restoring India’s Potential, was published by HarperCollins in 2022.
Anami N Roy
Anami Roy is an independent director at Bajaj Finserv Ltd. He is a distinguished former civil servant, having served in the Indian Police Service in Maharashtra and the Government of India for over 38 years. Known popularly as the People's Commissioner, he set up many citizen-friendly schemes. He started the Mumbai Police Infoline for giving all information from and about Police through a toll-free number, Elderline for senior citizens, Slum Police Panchayat etc. He retired as the Director-General of Police, Maharashtra, commanding a 2,25,000 strong Force. He headed the elite Special Protection Group operations, looking after the proximate security of the Prime Minister, former prime ministers, and their families. He was appointed Advisor to the Governor of Andhra Pradesh when the State was under President's rule in 2014. As a Director General Police, he also facilitated the reorganisation of the states of Andhra Pradesh and Telangana and supervised the General Elections of 2014 in both states. Post-retirement, Roy is engaged in the social and non-profit sector and runs a not-for-profit company, Vandana Foundation, to support people at the bottom of the pyramid with livelihood.
He is on the Board of Directors of some prominent companies like HDFC Bank, Glaxo Pharma, BHEL and Bajaj Auto. He brings with him a rich-blended experience of public service, functioning of governments at the state and central level and the corporate world.
Pramit Jhaveri presently acts as advisor and mentor to start ups, corporates and family offices. He is Senior Advisor to Premji Invest and PJT Partners and an Independent Director on the Boards of Bajaj Finance, Bajaj Finserv and Larsen & Toubro. Prior to his current activities, Pramit was Vice Chairman - Banking, Asia Pacific Citi. He served as Chief Executive Officer of Citibank India from 2010 to 2019. He retired from Citibank in November 2019 after a distinguished career in banking of 32 years, having joined the firm as a 23 year old in 1987.
Pramit serves as a Trustee on the Board of several philanthropic, non-profit entities in India. These include: Tata Trusts, which is amongst India’s oldest and most pre-eminent philanthropic institutions; Pratham Education Foundation, an NGO dedicated to the quality education of underprivileged children; the World Monuments Fund India, an organisation involved in conserving and preserving India’s architectural heritage; CSMVS, one of the premier art and history museums in India; the Museum of Art and Photography (MAP), a new private art museum based in Bangalore and the University of Rochester, New York.
Pramit is also an investor in and mentor to several exciting Fintech companies in India. These include KreditBee, Mintifi, Jai Kisan and CorpCare Solutions.
Pramit has a Bachelor of Commerce degree from Sydenham College, Mumbai University and an MBA from the Simon School of Business, University of Rochester. He is an avid tennis player, a keen follower of cricket and soccer and a long standing collector of Indian contemporary art.
Ms. Radhika Haribhakti has over 30 years of experience in Commercial and Investment Banking with Bank of America, JM Morgan Stanley, and DSP Merrill Lynch. She has advised several large corporates and led their Equity and Debt offerings in domestic and international capital markets. She now offers advisory services as RH Financial but primarily serves as an Independent Director on multiple Corporate Boards.
She is on the Boards of Directors of ICRA Limited, EIH Associated Hotels Limited, Navin Fluorine International Limited, Pipeline Infrastructure Limited, Rain Industries Limited and Torrent Power Limited. At these companies, she is a member of several board committees, including some of which she chairs.
Ms. Haribhakti has also been closely associated with women's empowerment and financial inclusion issues. She has served on the Boards of non-profits for over 18 years, including 12 years as Chairperson. She is the former Chair of Friends of Women's World Banking (FWWB) and Swadhaar Finaccess, both non-profits engaged in providing financial solutions to women in economically disadvantaged communities. She has also served on the Governing Council of Citigroup Micro Enterprise Award and CII's National Committee on Women Empowerment.
Ms. Haribhakti is a graduate of Commerce from Gujarat University and a Post Graduate in Management from the Indian Institute of Management (IIM), Ahmedabad.
Dr. Arindam Bhattacharya
Dr. Arindam Kumar Bhattacharya, Independent Director, investor, and Senior Advisor to BCG from where he retired as Senior Partner and Managing Director. In BCG he held many leadership roles and was a co-leader and founder of Bruce Henderson Institute, BCG's thought leadership institution. He headed BCG India, leading BCG’s operations in the country for about six years. He was a member of global leadership team of the Global Advantage practice and was earlier member of the global leadership teams of Industrial Goods, Public Sector and Social Impact practices and founder and co-leader of BCG’s Global Advantage Practice. As a BCG Fellow he has focused his research on Globalization and has and has authored two books Globality– Competing with Everyone from Everywhere for Everything, and Beyond Great – Nine Strategies for Thriving in an Era of Social Tension, Economic Nationalism and Technological Revolution, and numerous articles on the subject.
Starting his career with the Eicher Group in India as a graduate engineer trainee, Dr. Bhattacharya has over 30 years of experience in the industry and consulting with focus on the industrial sector. In recent years he has led the BCG's growing engagement with Central and State Governments on both economic and on social sector topics like education and health, and consulted with organizations like World Food Programme, Save the Children, Gates Foundation and World Bank.
Dr. Bhattacharya is a past member of National Council of Confederation of Indian Industry and has co-chaired CII’s National Manufacturing Council. He is a member of the International Advisory Boards of Oxford India Center of Sustainable Development, Oxford University, the School of Global Policy and Strategy, University of California, San Diego, and Munjal School for Global Manufacturing at the Indian School of Business. He is on board of Lemon Tree Hotels and WISH Foundation, India’s biggest Public Health NGO.
Dr. Bhattacharya was educated at the Indian Institute of Technology, Kharagpur, Indian Institute of Management, Ahmedabad, and Warwick Manufacturing Group, University of Warwick, UK where he completed his MSc in Manufacturing Systems and Doctorate of Engineering.
Shri Anup Saha
Anup Saha is presently the Executive Director of Bajaj Finance Limited (‘Company’) and a member of its executive management team. Anup joined the Company in 2017 to lead its consumer finance portfolio business. He heads all the Retail business lines of the Company, including its Urban Consumer Durable Loans, Personal Loan, Co-Branded Credit Cards, SME, all Rural Loans, Fixed Deposits, Insurance, and Payment’s business. He has also managed other portfolios such as Operations, Service and Marketing.
Prior to Bajaj Finance, Anup was with the ICICI Bank as their Senior General Manager and Group Product Head of their Retail Home Loan, Vehicle Loans, Developer Funding, and Retail and Rural Collections. He worked with ICICI Bank for 14 years across different roles. Anup has also served on the Board of ICICI Bank HFC and TU CIBIL and spearheaded ICICI Bank's Sales CRM and Big Data transformation projects. In his earlier stints, Anup worked with GE Capital International Services (GECIS), SBI Cards, Blow Past and BHEL.
With a solid track record of delivering top-line growth and bottom-line performance, Anup has been driving business productivity and improved profitability for the Company, further strengthening its market leadership position.
An alumnus of IIT Kharagpur and IIM Lucknow, Anup brings more than 28 years of diverse management experience across sales, product risk, collection, and business intelligence to deliver growth through performance and transformation of the Company while striving towards the vision of becoming a dominant, omnipresent player in the ecosystem of financial services and payment business.
Shri Rakesh Bhatt
Rakesh Bhatt is presently the Executive Director at Bajaj Finance Limited (‘Company’) and a member of the executive management team. As the Executive Director of the Company, he oversees the functional responsibilities of Technology, Operations, Marketing, and Legal. He is also responsible for driving sustainable growth for all the strategic initiatives of the Company.
Rakesh's journey in the Bajaj Finserv group of companies started way back in 2009. He was the Chief Operating Officer at Bajaj Finance Limited until 2018 and led a large portfolio of critical functions, including Technology, Analytics, Credit Operations, Customer Experience and Quality. He was the CEO of Bajaj Finserv Direct Limited for 4 years and spearheaded the launch of a diversified Digital Marketplace business (Bajaj Markets) in Financial Services and e-commerce.
In his earlier assignments, Rakesh has held leadership positions in reputed companies such as AIG Consumer Finance, GE Money, Reliance Industries and 3i Infotech.
An M.Sc. in Computer Applications, Rakesh brings on board 3 decades of rich industry experiences and technical know-how to further the Companies transformative efforts of bringing financial services solutions closer to the consumers.