Bajaj Finserv Limited is an Indian non-banking financial services company headquartered in

Pune Pune (; ; also known as Poona, ( the official name from 1818 until 1978) is one of the most important industrial and educational hubs of India, with an estimated population of 7.4 million As of 2021, Pune Metropolitan Region is the largest i ...

. It is focused on lending, asset management,

wealth management Wealth management (WM) or wealth management advisory (WMA) is an investment advisory service that provides financial management and wealth advisory services to a wide array of clients ranging from affluent to high-net-worth (HNW) and ultra-high ...

and

insurance Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...

History

The financial services and wind energy businesses were transferred to Bajaj Finserv Limited (BFS) as part of the concluded demerger from Bajaj Auto Limited, approved by the High Court of Judicature at

Bombay Mumbai (, ; also known as Bombay — List of renamed Indian cities and states#Maharashtra, the official name until 1995) is the capital city of the Indian States and union territories of India, state of Maharashtra and the ''de facto'' fin ...

by its order dated 18 December 2007. It is a financial conglomerate with stakes in the financing sector (Bajaj Finance), the life insurance business (Bajaj Life Insurance), and the general insurance business (Bajaj General Insurance). Bajaj Holdings and Investments Limited is the parent company which holds 39.29% stake in Bajaj Finserv. The former has been registered as a Non–Banking Financial Company (NBFC) under the Registration No. N–13.01952 dated 29 October 2009 with

Reserve Bank of India The Reserve Bank of India, chiefly known as RBI, is India's central bank and regulatory body responsible for regulation of the Indian banking system. It is under the ownership of Ministry of Finance, Government of India. It is responsible f ...

(RBI). The company employs over 20,154 employees at 1,409 locations, and is engaged in consumer finance businesses, life insurance, and general insurance. Apart from financial services, it is also active in

wind energy Wind power or wind energy is mostly the use of wind turbines to generate electricity. Wind power is a popular, sustainable, renewable energy source that has a much smaller impact on the environment than burning fossil fuels. Historically, w ...

generation with an installed capacity of 65.2 MW. In the quarterly results for June 2022, the company's board of directors has approved the sub-division of its equity shares in a ratio of 1:5.

Subsidiaries

Bajaj Finance Bajaj Finance Limited (BFL), a subsidiary of Bajaj Finserv, is an Indian non-banking financial company headquartered in Pune. History Originally incorporated as Bajaj Auto Finance Limited on March 25, 1987, as a non-banking financial company, ...

was initially incepted as Bajaj Auto Finance in 1987. Later diversified into business and property financing. * Bajaj Allianz Life Insurance is a joint venture between Bajaj Finserv and

Allianz SE Allianz ( , ) is a German multinational financial services company headquartered in Munich, Germany. Its core businesses are insurance and asset management. The company is one of the world's largest insurers and financial services groups. The ...

. Being one of the private insurance companies in India, it offers

products for financial planning and security. The company received the

Insurance Regulatory and Development Authority The Insurance Regulatory and Development Authority of India (IRDAI) is a regulatory body under the jurisdiction of Ministry of Finance , Government of India and is tasked with regulating and licensing the insurance and re-insurance indu ...

(IRDA) certificate of Registration on 3 August 2001 to conduct

Life insurance Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the dea ...

business Business is the practice of making one's living or making money by producing or buying and selling products (such as goods and services). It is also "any activity or enterprise entered into for profit." Having a business name does not separ ...

in India. * Bajaj Allianz General Insurance is a private general

company in India. It is another joint venture between Bajaj Finserv Limited and

. It is headquartered in Pune with offices in over 200 cities in India and more than 3,500 employees as of 2018.

References

External links

* (Bajaj Finserv Direct Limited) {{DEFAULTSORT:Bajaj Finserv Bajaj Auto Bajaj Group Financial services companies based in Pune Financial services companies established in 2007 NIFTY 50 Indian companies established in 2007 BSE SENSEX 2007 establishments in Maharashtra Companies listed on the National Stock Exchange of India Companies listed on the Bombay Stock Exchange