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Rajiv Bajaj quits Bajaj Finance board ahead of July AGM
The managing director of Bajaj Auto will step down as a non-executive director of the private lender, ending a long association with the company
Rajiv Bajaj is clearing his desk at Bajaj Finance. The managing director of Bajaj Auto has told the private lender that he will not seek re-election at its annual general meeting scheduled for July 30, 2026, bringing to a close a board tenure that spanned one of the most eventful chapters in Indian consumer finance.
According to a regulatory filing, Bajaj will cease to be a non-executive director of the company upon completion of the AGM. The board of directors, taking note of his departure at its meeting on Wednesday, placed on record its appreciation for his long association and contribution to the company.
The exit is notable. Bajaj is not merely a board name at Bajaj Finance. He has been part of the broader Bajaj group for over three decades, cutting his teeth across manufacturing, supply chain, research and development, engineering and marketing before rising to lead Bajaj Auto. He also holds directorships across several Bajaj group companies, including Bajaj Holdings and Investment Ltd, Bajaj Auto Credit Ltd, Bajaj Auto Technology Ltd, Bajaj Sevashram Pvt Ltd, Kamalnayan Investment and Trading Pvt Ltd and Rupa Equities Pvt Ltd, among others.
Bajaj holds a degree in mechanical engineering from the University of Pune and a master’s degree in manufacturing systems engineering from the University of Warwick, and has been credited with steering Bajaj Auto’s global operations through years of aggressive expansion.
His departure from the Bajaj Finance board narrows his formal footprint in the financial services arm of the group, even as he remains the public face of its automotive engine. Whether it signals a broader consolidation of roles within the conglomerate or simply a tidying of board responsibilities, the group has not said.
Bajaj Finance, one of India’s most closely watched non-banking financial companies, will now need to fill the chair he leaves behind. That, at least, should not take long.
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Indel Money appoints Vinod Panicker as CFO to steer growth plans
Veteran finance leader to drive strategy as firm targets 500 branches
MUMBAI: Indel Money has appointed Vinod Panicker as its chief financial officer, effective 29 April 2026, as the non-banking financial company sharpens its focus on expansion and long-term growth.
Panicker, a chartered accountant with over 38 years of experience across sectors, will be responsible for leading the company’s financial strategy, capital management and governance framework.
The appointment comes at a time when Indel Money is accelerating its expansion plans, with a target of reaching 500 branches across 16 states by the end of FY27. The company is looking to strengthen its operational scale while maintaining financial discipline as it grows its footprint.
With a seasoned finance professional at the helm, the firm is aiming to reinforce its financial architecture and support its next phase of growth in an increasingly competitive lending landscape.
The move signals Indel Money’s intent to align leadership capabilities with its expansion ambitions, as it continues to build scale and deepen its presence across India’s financial services sector.
