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Bajaj Finance

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Bajaj Finance Limited
FormerlyBajaj Auto Finance Limited (1987–2025)
TypePublic
BSE: 500034
NSE: BAJFINANCE
BSE SENSEX constituent
NSE NIFTY 50 constituent
ISININE296A01024
IndustryFinancial services
Founded25 March 1987; 39 years ago (1987-03-25)
FounderRahul Bajaj
Headquarters
Pune
,
India
Key people
ProductsLending, fixed deposits, mutual funds
RevenueIncrease₹81,982 crore (US$8.5 billion) (Q4 FY2026)[2]
Increase₹25,817 crore (US$2.7 billion) (Q4 FY2026)[3]
Increase ₹19,017 crore (US$2.0 billion) (Q4 FY2026)[3]
AUMIncrease ₹546,900 crore (US$57 billion) (Q1 FY2027).[4]
Total assetsIncrease₹466,127 crore (US$48 billion) (Q4 FY2026)[5]
Total equityIncrease₹96,693 crore (US$10 billion) (Q4 FY2026)[5]
ParentBajaj Finserv (52.49%)
SubsidiariesBajaj Financial Services
Bajaj Housing Finance
Bajaj Financial Securities
Rating
  • CRISIL AAA+/Stable Long-term debt[6]
  • ICRA AAA+/Stable Non-convertible debenture[7]
  • CARE AAA+/Stable Non-convertible debenture[8]
Websitewww.bajajfinance.com
Footnotes
Financials as of 31 March 2024.[9]

Bajaj Finance Limited (BFL) is an Indian deposit-taking non-banking financial company (NBFC-UL) headquartered in Pune.[10][11] The same was formed as Bajaj Auto Finance Limited to finance Bajaj's two and three wheeler segments.[12]

It has 124 million customers[13][14] and holds assets under management worth ₹546,900 crore (US$57 billion), as of June 2026.[4] As per the 2023 list of NBFCs issued by the Reserve Bank of India, Bajaj Finance is in the "upper layer" based on scale-based regulation guidelines.[15][16]

As of June 2026, the firm had reported 24 percent of year-on-year growth in consolidated assets under management to Rs. 5.47 lakh crores. The consolidated net profit rose to 28% to Rs. 6,081 crore during the quarter.[17]

History

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Originally incorporated as Bajaj Auto Finance Limited on 25 March 1987 as a non-banking financial company, the company primarily focused on providing two and three-wheeler finance.[18] After 11 years in the auto finance market, Bajaj Auto Finance launched its initial public issue of equity share and was listed on the Bombay Stock Exchange and National Stock Exchange of India.[19] At the turn of the 20th century, the company ventured into the consumer durables finance sector and started offering small-size loans.[20][21] In the subsequent years, Bajaj Auto Finance provided business and property loans as well.[22]

In 2007, the company split its business of manufacturing and its financial operations. Bajaj Finserv was the result of this split.[12]

In 2010, the company's registered name changed from Bajaj Auto Finance Limited to Bajaj Finance Limited.[23] This change was made to depict wider scope of its operations in the financial industry.[12] In its first seven years, Bajaj Finance mainly borrowed wholesale and lent retail. Since 2014, it has also borrowed retail and lent wholesale.[24]

In January 2023, Bajaj Finance launched its loan against property (LAP) business for micro, small, and medium-sized enterprise (MSME) customers.[25][26]

As of February 2026, Bajaj Finance planned to tap into AI to handle around a 100 million customers. In the previous year, they had achieved reaching out to about 20 million customers.[27] The customer calls are being transferred into structured data. There has been an increase in efficiency from 25 to 45 percent since the usage of AI, said Bajaj Finance.[28] By mid-2026, the company planned to launch a new AI powered version of its consumer platform. And by 2027, the users will be able to choose between regular app interface and a more advanced AI led experience.[28]

In May 2026, Bajaj Finserv had launched 'Finserv Intelligence' to back AI and deep-tech research that took place in India. The same was done in partnership with IIT Mumbai.[29] The same was designed as a holistic innovation system with a five-ten year gap for realisable impacts. It is based on an integrated operational model, that will bring together academic collaboration, investments in the startup ecosystem, and in-house specialists.[29] The same is to focus on technological innovation and ensuring consistent financial returns.[29]

In June 2026, the firm was focused on driving AI-based capacity building activities. This was done after certain results were seen due to AI driven outputs.[17] These outputs included the generation of Rs. 517 crore of incremental loans during the June quarter. Following this, the company was set to increase its AI workforce from 230-400 employees.[17]

In July 2026, Rajeev Jain, the Managing Director of Bajaj Finance announced that FINAI will grow in the next decade. The lender intends to deploy around 300 artificial intelligence use cases in FY27.[30] Bajaj Finserv is targeting start up investments, and is aiming to be the biggest solar lender for consumers and MSME's in India, and financing 1 million electronic vehicles by FY30, among their many other goals.[30]

Operations

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Bajaj Finance manages a wide portfolio spanning customer loans, SME financing, co-branded credit cards, digital loans, commercial lending and deposit products.[12] The company operates through regional officers, partner stores, point of sales, financing counters, and a growing network of branches.[12] The operations spanned across urban, semi-urban and rural ecosystems.[12] The operations are spread across physical centres, and is supported by a strong digital ecosystem. A wide range of retail customers are serviced by the organisation, from individual to commercial clients.[12]

A few operational clusters of the firm includes: Consumer lending and payments, SME and commercial lending, Rural and Inclusive financing, deposits and treasury management, and digital lending across technological platforms.[12]

As of March 2023, the company deals in consumer lending, SME (small and medium-sized enterprises) lending, commercial lending, rural lending, deposits, and wealth management.[31][32] It has 294 consumer branches and 497 rural locations with over 33,000+ distribution points and 1,50,000+ stores.[33] As of 30 September 2024, money markets made up 47% of company's borrowings, bank borrowings 29%, deposits 20%, and external commercial borrowings 4%. It had deposits worth ₹66,131 crore (US$6.9 billion).[24]

Most of Bajaj Finance's revenue is generated from suppliers who pay for access to their customer base.[34] As of December 2024, mortgages currently make up 31% of its consolidated AUM, while SME lending accounts for 14% and commercial lending for 13%.[24]

Bajaj Finance previously worked with RBL Bank and DBS Bank to issue co-branded credit cards.[35] In early December 2024, the company ended its partnerships due to new Reserve Bank of India rules restricting the role of non-banking partners in such agreements.[36] However, in early 2025, the company re-entered the same space by partnering with Bharti Airtel to launch a co-branded insta EMI card.[37]

Bajaj Finance also has a wide range of employees working under the firm. The firm currently has over 64,000 people that are working with the firm. The employees have been spread across a range of verticals, such as credit, risk, technology, sales operations and customer services.[12]

Subsidiaries

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  • Bajaj Housing Finance provides housing finance services, including home loans, loans against property, and lease rental discounting.[38] In 2024, it went public with an initial public offering.[39][40]
  • Bajaj Financial Securities (d/b/a Bajaj Broking), the brokerage division, handles stock market equities trading.[41]

Funding and investments

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The parent company, Bajaj Finserv, holds 52.49% of the total shares and has a controlling stake in the subsidiary.[26]

Investments

[edit]

In 2017–18, Bajaj Finance acquired a 12.6% stake in the mobile wallet company MobiKwik.[42][43][44][45]

In November 2022, Bajaj Finance acquired a 40% stake in Mumbai-based SnapWork Technologies for ₹93 crore (US$9.7 million).[46][47]

In October 2023, the company acquired a 26% stake in Hyderabad-based Pennant Technologies for ₹267.50 crore (US$28 million).[48][49]

Climate finance

[edit]

In November 2024, Bajaj Finance raised $400 million from International Finance Corporation to expand its climate finance operations in India.[50][51]

Regulatory

[edit]

In September 2022, the RBI included Bajaj Finance as one of the 16 NBFCs that are part of the NBFC-Upper Layer list.[52][53]

Compliance issues

[edit]

In November 2023, RBI banned the company from approving or distributing loans through two of its lending services, namely 'eCOM' and 'Insta EMI Card'.[54][55][56][57] In an exchange filing in May 2024, the company announced that the RBI had lifted the said restrictions following remedial actions taken by the company.[58][59]

Philanthropy

[edit]

Bajaj Finance is involved in "Bajaj Beyond," a collaborative CSR initiative with Bajaj Auto and Bajaj Electricals, committing ₹5,000 crore (US$520 million) crore to multiple social impact projects.[60] The company collaborates with various institutions including the Jamnalal Bajaj Foundation, Jankidevi Bajaj Gram Vikas Sanstha, and the Kamalnayan Bajaj Hospital.[61] Also, it is involved in various areas such as education, empowering women, providing skill-building training, healthcare, and other projects focused on socio-economic development.[62]

In August 2026, Bajaj Finance conducted finance literary programs in the rural parts of Odisha, India. This was part of the initiative 'Arthsutra Samvad'.[63] The same is a programme spanning the nation, which is aimed at providing financial inclusion across villages. This programme also takes information to areas that are underbanked in the country.[63] The same was focused on emphasizing on the need for financial discipline and create awareness against financial fraud. This was also meant to inform citizens about the responsible practices in financial management.[63]

References

[edit]
  1. ↑ Adhikari, Anand (4 March 2022). "How Rajeev Jain is Transforming Bajaj Finance". Business Today (India). Archived from the original on 12 April 2022. Retrieved 30 April 2022.
  2. ↑ "Bajaj Finance Q4 net profit rises 22% to Rs 5,465 crore". moneycontrol.com. Retrieved 30 April 2026.{{cite web}}: CS1 maint: url-status (link)
  3. 1 2 "Bajaj Finance Consolidated Profit & Loss account". moneycontrol.com. Retrieved 30 April 2026.{{cite web}}: CS1 maint: url-status (link)
  4. 1 2 S, Naman. "Bajaj Finance Q1 FY27: AUM up 24% YoY; Citi, Morgan Stanley, JPMorgan bullish". scanx.trade. Retrieved 5 August 2026.
  5. 1 2 "Bajaj Finance Consolidated Balance Sheet". moneycontrol.com. Retrieved 30 April 2026.{{cite web}}: CS1 maint: url-status (link)
  6. ↑ "Bajaj Finance deposits cross Rs 50,000 crore". The Financial Express. 1 August 2023. Retrieved 30 June 2023.
  7. ↑ "Bajaj Finance Ltd.: Ratings reaffirmed". ICRA Limited. 6 June 2023. Archived from the original on 30 August 2023. Retrieved 30 June 2023.
  8. ↑ "Bajaj Finance Ltd Revised" (PDF). CAREEdge. 5 January 2023. Retrieved 30 June 2023.
  9. ↑ "Bajaj Finance FY24 Q4 Results" (PDF).
  10. ↑ "World Bank's IFC to make debt investment of $150 mn in Bajaj Finance". VCCircle. 21 April 2021. Archived from the original on 26 October 2021. Retrieved 17 March 2022.
  11. ↑ Mahali, Monica; Bandopadhyay, Kalpataru (10 March 2022). "Evidence-Based Management: Case of Bajaj Finance Limited". The Management Accountant. 57 (4). Rochester, NY: Institute of Cost Accountants of India: 47–51. doi:10.33516/maj.v57i4.47-51p. S2CID 251269765.
  12. 1 2 3 4 5 6 7 8 9 "Bajaj Finance Summary: Latest Updates and Details". India Infoline. Retrieved 11 August 2026.
  13. ↑ Panda, Subrata. "Bajaj Finance sees 29% profit surge in Q1, driven by robust NII and AUM growth". Rediff. Retrieved 5 August 2026.
  14. ↑ "Bajaj Finance builds cross-selling engine as customer franchise crosses 12 crore". ETBFSI.com. 1 August 2026. Retrieved 5 August 2026.
  15. ↑ "RBI places 15 NBFCs in the upper layer under scale-based regulations". BusinessLine. 14 September 2023. Archived from the original on 2 October 2023. Retrieved 1 October 2023.
  16. ↑ Dayal, Yogesh (14 September 2023). "RBI releases list of NBFCs in the Upper Layer (NBFC-UL) under Scale Based Regulation for NBFCs". Reserve Bank of India. Archived from the original on 1 October 2023. Retrieved 1 October 2023.
  17. 1 2 3 www.ETBFSI.com. "Bajaj Finance says AI generated Rs 517 crore in incremental disbursements, to expand AI team to 400". ETBFSI.com. Retrieved 12 August 2026.
  18. ↑ Sitaraman, Krishnan; Velonie, Ajit; Bhargav, Krishna (13 July 2021). "CRISIL - Rating Rationale, Bajaj Finance Limited" (PDF). CRISIL. Archived (PDF) from the original on 18 June 2022. Retrieved 17 March 2022.
  19. ↑ "Bajaj Finance Ltd (Bajfinance) - Strategy, SWOT and Corporate Finance Report". Marketline. Retrieved 17 March 2022.[permanent dead link]
  20. ↑ Meenakshi, Arun Kumar & N. (2011). Marketing Management, 2nd Edition. Vikas Publishing House. ISBN 978-81-259-4259-7.
  21. ↑ Mishkin; S, Frederic; Eakins; Stanley (2000). "Chapter 2: Overview of the Financial System". Financial Markets and Institutions. Boston: Addison-Wesley. p. 31. ISBN 978-93-89588-61-3. Archived from the original on 2 October 2023. Retrieved 1 October 2023.
  22. ↑ Piramal, Gita (21 March 2022). Rahul Bajaj: An Extraordinary Life. Penguin Random House India Private Limited. ISBN 978-93-5492-493-4. Archived from the original on 14 July 2023. Retrieved 4 August 2022.
  23. ↑ "BAJFINANCE Summary: Latest Updates and Details | India Infoline". indiainfoline.com. Archived from the original on 19 April 2017. Retrieved 27 June 2024.
  24. 1 2 3 Jain Kaushal, Teena (23 December 2024). "Bajaj Finance blazes ahead: Redefining digitisation while battling fierce competition". Business Today. Retrieved 25 December 2024.
  25. ↑ Vashisht, Deepak Korgoankar & Nikita (30 January 2023). "Bajaj Finance's long range strategy lifts stock 5% higher". www.business-standard.com. Archived from the original on 31 January 2023. Retrieved 31 January 2023.
  26. 1 2 Srivats, K. R. (12 April 2023). "Bajaj Finance plans entry into microfinance segment by 2025, says Sanjiv Bajaj". www.thehindubusinessline.com. Archived from the original on 1 May 2023. Retrieved 1 May 2023.
  27. ↑ "Bajaj Finance Taps AI To Handle 100 Million Customer Calls By Next Year". www.ndtv.com. Archived from the original on 13 March 2026. Retrieved 12 August 2026.
  28. 1 2 https://www.ndtv.com/india-news/bajaj-finance-taps-ai-to-handle-100-million-customer-calls-by-next-year-10997727
  29. 1 2 3 Computer, Express (30 May 2026). "Bajaj Finserv launches 'Finserv Intelligence' to back India's AI & deep-tech research and innovation; Partners IIT Bombay". Express Computer. Retrieved 12 August 2026.
  30. 1 2 https://www.business-standard.com/companies/news/bajaj-finance-s-finai-to-unlock-growth-for-next-8-10-years-rajeev-jain-126073001293_1.html
  31. ↑ "Exploring the Next Generation Employee Experience: Case Study of Bajaj Finance Limited". The Case Centre. Archived from the original on 17 April 2022. Retrieved 17 March 2022.
  32. ↑ John, Nevin (10 October 2023). "Bajaj Finance's Fire Fighter". Fortune India. Retrieved 8 March 2024.
  33. ↑ Shetty, Mayur (7 July 2022). "Bajaj Fin's assets grow 31% to cross Rs 2L crore". The Times of India. Retrieved 1 August 2022.
  34. ↑ Bijapurkar, Rama (29 February 2024). Lilliput Land: How Small is Driving India's Mega Consumption Story. Penguin Random House India Private Limited. ISBN 978-93-5708-379-9.
  35. ↑ Karthik, Hamsini (18 August 2022). "Bajaj Finance readies for entry into credit cards business". www.thehindubusinessline.com. Archived from the original on 31 August 2022. Retrieved 31 August 2022.
  36. ↑ Saha, Manojit; Panda, Subrata (1 December 2024). "Bajaj Fin exits co-branded credit card biz, ends tieup with DBS India, RBL". Business Standard. Retrieved 25 December 2024.
  37. ↑ Varier, Aathira (20 January 2025). "Bajaj Finance, Airtel collab to launch digital financial services platform". Business Standard. Retrieved 26 April 2025.
  38. ↑ Babel, Rajeev (15 March 2021). Handbook of Non-Banking Financial Companies. Bloomsbury Publishing. ISBN 978-93-90176-20-5. Archived from the original on 12 May 2024. Retrieved 17 June 2024.
  39. ↑ Kay, Chris (16 September 2024). "India's top shadow bank lists housing finance arm in blockbuster $782mn IPO". Financial Times. Retrieved 3 December 2025.
  40. ↑ Venkat, P. R. (16 September 2024). "Bajaj Housing Finance Shares Surge After India's Biggest IPO This Year". The Wall Street Journal. Retrieved 3 December 2025.
  41. ↑ Velonie, Ajit; Bhotika, Malvika; Sarvaiya, Foram (18 October 2023). "Rating Rationale: Bajaj Financial Securities Limited". CRISIL. Retrieved 17 June 2024.
  42. ↑ "MobiKwik partners Bajaj Finance for larger financial services pie". www.thehindubusinessline.com. 3 August 2017. Archived from the original on 1 August 2022. Retrieved 1 August 2022.
  43. ↑ "Bajaj Finance to acquire 12.6% in Mobikwik". The Economic Times. Archived from the original on 1 August 2022. Retrieved 1 August 2022.
  44. ↑ Bose, Indranil; Kashyap, Nishant (2019). "Mobikwik's Full Service FinTech Platform Bet: Will it be a Winner?". DSpace @ Indian Institute of Management Calcutta. Archived from the original on 27 May 2023. Retrieved 27 May 2023.
  45. ↑ "Mobikwik looks to raise $100 million as it delays IPO plans, founder says the 'markets are not ready'". Business Insider. Archived from the original on 1 August 2022. Retrieved 1 August 2022.
  46. ↑ "Bajaj Finance to acquire up to 40% stake in Snapwork Technologies for up to ₹93 crore". www.thehindubusinessline.com. 26 November 2022. Archived from the original on 31 December 2022. Retrieved 31 December 2022.
  47. ↑ MarketScreener (31 December 2022). "Bajaj Finance Limited completed the acquisition of 40% stake in Snapwork Technologies Private Limited for INR 927 million. -December 31, 2022 | MarketScreener". ae.marketscreener.com. Retrieved 28 February 2025.
  48. ↑ Kumar, Nishant, ed. (17 October 2023). "Bajaj Finance acquires 26% stake in Pennant Technologies for ₹267.50 crore". Mint. Retrieved 1 March 2025.
  49. ↑ KUMAR, N. RAVI (17 October 2023). "Bajaj Finance to acquire 26% stake in fintech Pennant Technologies for ₹267.50 crore". The Hindu. ISSN 0971-751X. Retrieved 28 February 2025.
  50. ↑ Srivats, K. R. (6 November 2024). "IFC invests $400 million in Bajaj Finance, aiming to quadruple climate loans by 2027". BusinessLine. Retrieved 29 November 2024.
  51. ↑ Varier, Aathira (6 November 2024). "IFC to partner with Bajaj Finance to pump in $400 mn for climate finance". Business Standard. Retrieved 29 November 2024.
  52. ↑ Dayal, Yogesh (30 September 2022). "RBI releases list of NBFCs in the Upper Layer under Scale Based Regulation for NBFCs" (PDF). Reserve Bank of India. Archived (PDF) from the original on 9 October 2022. Retrieved 9 October 2022.
  53. ↑ "RBI lists 16 NBFCs in upper layer, includes Tata Sons". Financialexpress. October 2022. Archived from the original on 9 October 2022. Retrieved 9 October 2022.
  54. ↑ "RBI orders Bajaj Finance to stop eCOM, Insta EMI Card loans". The Indian Express. 16 November 2023. Archived from the original on 19 November 2023. Retrieved 19 November 2023.
  55. ↑ Kayastha, Anshika (15 November 2023). "RBI orders Bajaj Finance to stop lending via eCOM, Insta EMI Card". BusinessLine. Archived from the original on 19 November 2023. Retrieved 19 November 2023.
  56. ↑ Sampath, Vineetha (4 January 2024). "Bajaj Finance set for a sturdy quarter despite RBI directive". mint. Archived from the original on 18 January 2024. Retrieved 18 January 2024.
  57. ↑ "Bajaj Finance stock recoups early losses post RBI ban; analysts see limited impact but eye quick resolution". Moneycontrol. 16 November 2023. Archived from the original on 18 January 2024. Retrieved 18 January 2024.
  58. ↑ Varier, Aathira (2 May 2024). "RBI lifts curb on Bajaj Finance's lending products 'eCOM', 'Insta EMI Card'". Business Standard. Archived from the original on 13 May 2024. Retrieved 13 May 2024.
  59. ↑ "India's Bajaj Finance says cenbank lifts ban on lending products". Reuters. 2 May 2024. Retrieved 13 May 2024.
  60. ↑ "Bajaj Group unveils 'Bajaj Beyond' initiative; commits ₹5,000 crore for social impact programmes". BusinessLine. 22 March 2024. Archived from the original on 13 May 2024. Retrieved 13 May 2024.
  61. ↑ Matta, Anubhuti. "Bajaj Group Unveils Bajaj Beyond, A CSR Initiative Committing Rs 5,000 Crore To Skilling India's Youth". Forbes India. Retrieved 13 May 2024.
  62. ↑ Mansour, Nadia; Vadell, Lorenzo M. Bujosa (18 February 2022). Finance, Law, and the Crisis of COVID-19: An Interdisciplinary Perspective. Springer Nature. p. 27. ISBN 978-3-030-89416-0.
  63. 1 2 3 "Bajaj Finance Conducts Financial Literacy Programs in Rural Odisha". Odisha Diary, Latest Odisha News, Breaking News Odisha. 11 August 2026. Retrieved 11 August 2026.

Further reading

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