Given Jain’s credentials and investor belief in him, Bajaj Finance shares are likely to see a positive reaction in the immediate term, as he takes over officially as MD, once again, it added.
In an exchange filing last evening, Bajaj Finance said that Anup Kumar Saha tendered his resignation as the MD of Bajaj Finance and a director from the board of directors of the company due to personal reasons. The private lender has been seeking new leadership after its previous chief stepped down amid a controversy surrounding the accounting of its derivatives portfolio.
“The Board (based on recommendation of the Nomination and Remuneration Committee of the Board) at their meeting held today, i.e., 21 July 2025, has noted and accepted the resignation of Anup Kumar Saha as the Managing Director of the Company and as a Director on the Board, with effect from close of business hours as on 21 July 2025,” the release noted.
Following the resignation of Saha, and in the interest of ensuring continuity in management, the board has vested Rajeev Jain, in addition to his existing responsibilities as executive vice chairman, with the powers, roles, and responsibilities of managing the company. He has been re-designated as vice chairman and managing director (VC & MD) for the remainder of his term, i.e., until March 31, 2028, the release noted.
“The board has, in addition to Rajeev Jain’s existing powers and roles as Executive Vice-Chairman of the Company, vested him with the powers, roles and responsibilities of management of the Company and re-designated him as ViceChairman and Managing Director of the Company for the remainder of his term i.e. till 31 March 2028,” the release noted.
Rajeev Jain is widely credited with the remarkable transformation of Bajaj Finance from a captive two- and three-wheeler financier into a leading diversified NBFC. In March 2025, Jain was appointed as an additional director in a non-executive role and designated as vice chairman of Bajaj Finance, effective April 1. He had previously served as the managing director of the company from 2015 until his transition to the new role earlier this year.
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