Rajiv Bajaj to step down from Bajaj Finserv board, cites growing responsibilities at Bajaj Auto

Rajiv Bajaj, Non-Executive Director at Bajaj Finserv, will step down from the company's board at the upcoming annual general meeting (AGM) on July 31, 2026, as he looks to focus on growing responsibilities at Bajaj Auto and its group businesses.

In an exchange filing on Tuesday (June 9), Bajaj Finserv said Bajaj has informed the company that he does not wish to seek re-election at the AGM and will cease to be a director upon his retirement by rotation.

The company said Bajaj's decision comes in view of additional responsibilities at Bajaj Auto, including the setting up of Bajaj Auto Technology and Bajaj Auto Credit, as well as the recent acquisition of Austrian motorcycle maker KTM.

Rajiv Bajaj has been associated with the Bajaj group for decades and currently serves as the Managing Director of Bajaj Auto. His exit from the Bajaj Finserv board comes as the auto major expands its presence across technology, financing and international motorcycle businesses.

Bajaj Finserv said the information regarding his decision was received by the company on June 8 and is being disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations.

The AGM of Bajaj Finserv is scheduled to be held on July 31, when Bajaj's retirement from the board will formally take effect.