Bajaj Finance MD Anup Kumar Saha resigns citing personal reasons

“…the Board (based on the recommendation of the Nomination and Remuneration Committee of the Board (the “NRC”)) at their meeting held today, i.e., 21 July 2025, has noted and accepted the resignation of Mr. 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 company said in a statement.

Consequent to the resignation, the company’s board has elevated Rajeev Jain as executive vice chairman and managing director along with his existing powers and roles.

Jain has been re-designated effective immediately for the remainder of his term, i.e., till March 31, 2028.

“I take this opportunity to thank the Board, the management team, and all stakeholders of the Company for their support and trust during my tenure. I remain committed to ensuring a smooth and seamless transition, and I am available to support the company during this period, as may be required,” Anup Saha has said in his resignation letter.

Saha had joined the Pune-headquartered company in 2017. Before joining Bajaj Finance, Anup Saha worked with ICICI Bank for 14 years. He holds an engineering degree from IIT Kharagpur and an MBA from IIM Lucknow.

Shares of Bajaj Finance on Monday settled at ₹948 apiece on NSE, rising 0.64%.

Earlier this month, Bajaj Finance in its business update (consolidated basis) had said its customer franchise as of June 30, 2025, stood at 106.51 million as compared to 88.11 million as of June 30, 2024. In Q1 FY26, the customer franchise increased by 4.69 million.

The company added that new loans booked grew by 23% to 13.49 million in Q1 FY26 as compared to 10.97 million in Q1 FY25. Further, assets under management (AUM) grew by 25% to approximately ₹441,400 crore as of June 30, 2025, as compared to ₹354,192 crore as of June 30, 2024.

In Q1 FY26, AUM grew by approximately ₹24,750 crore.

Additionally, the deposit book grew by 15% to approximately ₹72,100 crore as of June 30, 2025, as compared to ₹62,774 crore logged as of June 30, 2024.