Bajaj Finserv on March 20 said the board has approved the elevation of Rajeev jain as vice chairman in the capacity as an executive director for a period of three years starting from April 1, 2025, according to a stock exchange filing.
The company also appointed Anup Kumar Saha as the new managing director of the company effective from April 1, the stock filing said.
Before this, Jain was the managing director and Saha was in the position of deputy managing director.
The development confirms Moneycontrol's newsbreak that said both Jain and Saha are set to receive promotions as part of the group's succession planning exercise.
Bajaj Finance is promoted by Bajaj Finserv, which holds around 54 percent stake in the Rs 3.25 lakh crore lending arm.
Jain would be spending a significant part of his time overseeing Bajaj Finance, but he may also supervise some of the newer initiatives of the group, such as those in healthcare, as well as lend support to the transition in the group’s insurance companies, Moneycontrol had reported on March 19.
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