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Man with a Purpose

In today’s competitive economy, if you do not meet customer requirements satisfactorily, you may have to close shop. We need not pat our backs because we have done something good for our customers. We have simply tried to meet their needs satisfactorily, efficiently.

Rahul Bajaj 1938 - 2022

Bajaj Finance at a Glance

Bajaj Finance is among India’s leading and most diversified non-banking financial companies (NBFCs). In our thirty-five years of journey, we have transformed our operations by building a diversified product portfolio, establishing a strong geographic presence, and serving a large customer base.

Chairman’s Letter

For long the Chairman and more recently the Chairman Emeritus of your Company, my father, was a unique and very special person. Everyone who worked with him knew of his pinpointed focus on details.

Sanjiv Bajaj

Performance 2021-22

Your Company displayed significant resilience in dealing with various external shocks in recent years — be it the three successive COVID-19 waves, macroeconomic slowdown that pre-dated COVID-19 or the fundamental changes in the industry that we belong to.

Business Update

In FY2022, BFL disbursed 24.7 million loans, representing a growth of 46% over FY2021. It is present in 3,504 locations across the country, including 2,136 locations in rural/smaller towns and villages. It operates through more than 133,200 distribution points across India. The Company acquired over 9 million new customers in FY2022 takings its existing customer franchise to 57.6 million as on 31 March 2022, a growth of 19% over 31 March 2021.

Key Performance Indicators

BFL’s Consolidated Asset under Management (₹ in crore)

BFL’s Consolidated PAT (₹ in crore)

Subsidiaries

Bajaj Housing Finance Limited

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Bajaj Financial Securities Limited

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Corporate
Social
Responsibility

The vision and philosophy of late Shri Jamnalal Bajaj, the founder of Bajaj Group, guide the Corporate Social Responsibility (CSR) activities of the group. He embodied the concept of trusteeship in business and common good, and laid the foundation for ethical, value-based and transparent functioning.

Committed to Grow Responsibly

Business Responsibility & Sustainability Report

(also includes elements of Environmental, Social and Governance)

FY2022

Leading the Way

Leading the Way Download

Manish JainCEO, Bajaj Financial Securities Limited

Manish Jain is the Chief Executive Officer at Bajaj Financial Securities Limited, the 100% subsidiary of Bajaj Finance Limited. As the help of affairs and is responsible for providing strategic direction, managing and growing the Loan Against Securities (LAS) & Corporate Finance business in Bajaj Finance Ltd.

Manish joined Bajaj Finance in 2010 to lead its Credit & Risk, Loans against Securities. He was instrumental in developing the complete credit underwriting and risk management philosophy for the Loan against Securities business at the time of launch and in creating a roadmap in line with the organizational strategic intent. In 2013, Manish took over the responsibility of heading the Product function for Business Loans.

Manish possesses a strong domain expertise and has always been an exceptional team player.

Sanjiv BajajChairman, Bajaj Finance Limited

Sanjiv Bajaj is the Chairman of Bajaj Finance Limited and the 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 an annual revenue of over ₹ 68,000 crore ($ 9 billion) and profit of over ₹ 4,500 crore ($ 600 million) for FY2022. Under his leadership, Bajaj Finserv Limited has emerged as one of India’s leading diversified financial services companies with solutions spanning 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 helped shape the digital consumer financing in India.

Sanjiv is on the board of his group operating companies as the Chairman of Bajaj Finance Limited, Maharashtra Scooters Limited, Bajaj Finserv Asset Management Limited and the two insurance subsidiaries i.e. Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited. Since 2012, he has been the Managing Director of Bajaj Holdings & Investment Limited. He is the former Executive Director of Bajaj Auto Limited and presently its non-executive director.

Sanjiv has been engaged with the Confederation of Indian Industry (CII) for many years at the State, Regional and National level and is presently the President for 2022-23.

Sanjiv is an alumnus of the Harvard Business School, USA and a Member of the Board of Indian School of Business (ISB), Member of the International Advisory Board (IAB), Allianz SE and the International Technology Advisory Panel (ITAP) of Monetary Authority of Singapore (MAS) and Regional Stewardship Board for India and South Asia 2019-2020 of the World Economic Forum.

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 a distinction from the University of Warwick, UK and a master’s degree in business administration (with distinction) from the Harvard Business School, USA.

Sandeep JainChief Financial Officer

Sandeep is the Chief Financial Officer at Bajaj Finance Limited and a key member of its executive management team. He has played an integral role in the growth and evolution of the Company from being a mono-line auto finance company to a diversified financial services business and onto its transformative journey of becoming a dominant player in the ecosystem of financial services and payments' business.

Sandeep joined Bajaj Finance in 2008 to set up the management accounting practices, and over the years, he has evolved his space by playing multifarious roles across Strategic Planning, CEO's Office, Financial Planning & Analysis to heading the Business Re-engineering and Investor Relations functions of the organization. He started his professional journey in the Internal Audit function of Bajaj Auto Limited, handling audits in the areas of materials, system, finance, and indirect taxation.

As the CFO of Bajaj Finance Limited, Sandeep oversees the Finance, Treasury, Financial Planning and Analysis of the Company with a sharp focus on controllership, compliances, liquidity, and driving continuous improvements in business and functional processes towards delivering significant bottom-line benefits.

Sandeep is a Chartered Accountant from ICAI with bachelor's degree in Commerce from Nagpur University.

Atul JainManaging Director, Bajaj Housing Finance Limited

Atul Jain is now the Managing Director of Bajaj Housing Finance Limited, the 100 percent subsidiary of Bajaj Finance Limited. He had been with Bajaj Finance for over 19 years, prior to his role as the CEO of Bajaj Housing Finance Ltd., (BHFL) in 2018. Atul has been instrumental in shaping the organization to deliver multi-fold asset growth over the past 3 years, coupled with a risk-averse approach, that helped the organization seamlessly navigate major industry crises over the past two years.

An industry veteran with over 30 years of rich experience in the financial sector, Atul started his career in Investment Banking and later moved to Retail Finance. At Bajaj Finance, he was the Chief Collection Officer for over 11 years and spent 4 years as the President of Rural Lending & Collections. He also served as the Enterprise Risk Officer at for 2 years before moving onto his role as the CEO of Bajaj Housing Finance Limited. Atul holds an MBA in Finance.

Rajeev JainManaging Director

Rajeev Jain is the Managing Director at Bajaj Finance Limited and a member of the company's executive management team. Charting an ambitious growth trajectory for the company, Rajeev has transformed it from a captive auto finance company to become one of India's largest and highly diversified NBFC company, catering to the emerging financial needs of consumers.

Rajeev joined Bajaj Finance Limited in 2007 as the Chief Executive Officer and has been since been leading the company towards a 'new way of doing business'; by envisaging it as an omnipresent financial services company to enable existing and new customers to engage, transact and be serviced seamlessly - online and offline. An unwavering champion of innovation and disruptive ideas, Rajeev harnessed the power of digital technologies to deliver faster solutions and frictionless experiences for customers, amidst a rapidly evolving digital landscape.

An industry veteran with nearly 3 decades of stellar experience in managing diverse consumer lending businesses viz. auto loans, durable loans, personal loans and credit cards, Rajeev has spent a decade and a half with Bajaj Finance Limited, driving long-term, profitable businesses and large-scale digital transformations within the organisation to create long-term value for the shareholders.

Prior to Bajaj Finance, he was associated with GE, American Express and the American International Group (AIG). In his role as the Deputy CEO of the consumer lending business at AIG, Rajeev built the strategic framework for the AIG Consumer business to foray in India, thus creating a holding company, and acquiring two non-banking finance companies, that helped the organisation establish a strong base in the Indian market. At American Express he handled diverse roles across various product categories including credit cards, personal loans, 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 the T. A Pai Management Institute, Manipal with a bachelor's degree in Commerce from the American College, Madurai.

Anup SahaDeputy CEO

Anup Saha is the Deputy Chief Executive Officer at Bajaj Finance Limited, 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, MSME, all Rural Loans, Fixed Deposits, Insurance, and the Payments 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, 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.

Rakesh BhattDeputy CEO

Anup Saha is the Deputy Chief Executive Officer at Bajaj Finance Limited, 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, MSME, all Rural Loans, Fixed Deposits, Insurance, and the Payments business. He has also managed other portfolios such as Operations, Service and Marketing.

Prior to Bajaj Finance, Anup was with ICICI Bank as the Senior General Manager and Group Product Head of their Retail Home Loan, Vehicle Loans, Developer Funding, 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.

Awards & Accolades