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

Pune Pune ( ; , ISO 15919, ISO: ), previously spelled in English as Poona (List of renamed Indian cities and states#Maharashtra, the official name until 1978), is a city in the state of Maharashtra in the Deccan Plateau, Deccan plateau in Western ...

. It is focused on

lending In finance, a loan is the tender of money by one party to another with an agreement to pay it back. The recipient, or borrower, incurs a debt and is usually required to pay interest for the use of the money. The document evidencing the debt ( ...

asset management Asset management is a systematic approach to the governance and realization of all value for which a group or entity is responsible. It may apply both to tangible assets (physical objects such as complex process or manufacturing plants, infrastr ...

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-hi ...

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 protect ...

History

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

Bombay Mumbai ( ; ), also known as Bombay ( ; its official name until 1995), is the capital city of the Indian States and union territories of India, state of Maharashtra. Mumbai is the financial centre, financial capital and the list of cities i ...

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), the general insurance business (Bajaj General Insurance), and the mutual fund business (Bajaj Finserv Mutual Funds). Bajaj Holdings and Investments Limited (BHIL) came into existence when the original company separated its auto and finance assets. This new entity, BHIL is the parent company which holds 39.29% stake in Bajaj Finserv and now holds surplus cash and investments with the purpose of providing financial support to the auto and/or finance business or exploring fresh business prospects. The BHIL 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 Reserve Bank of India, abbreviated as RBI, is the central bank of the Republic of India, and regulatory body responsible for regulation of the Indian banking system and Indian rupee, Indian currency. Owned by the Ministry of Finance (India), Min ...

(RBI). Starting in 2017, Bajaj Finserv adopted

blockchain technology The blockchain is a distributed ledger with growing lists of records (''blocks'') that are securely linked together via cryptographic hashes. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (g ...

for services like travel insurance, allowing claim resolution before customer registration. By 2023, they had extended blockchain's utility to enhance trader and customer connections. Apart from financial services, it is also active in

wind energy Wind power is the use of wind energy to generate useful work. Historically, wind power was used by sails, windmills and windpumps, but today it is mostly used to generate electricity. This article deals only with wind power for electricity ...

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. During a block deal in the last week of December 2022, promoter Jamnalal Sons increased its holdings in the company. In the open market, the promoter purchased equity shares worth a total of ₹100.41 crore. However, the other promoter, Rishab Family Trust, was able to sell a portion of the company's shares.

Subsidiaries

Bajaj Finance Bajaj Finance Limited (BFL) is a deposit-taking Indian non-banking financial company headquartered in Pune. It has a customer base of 101.82 million and holds assets under management worth , as of March 2025. As per the 2023 list of NBFCs iss ...

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

. 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 an autonomous and statutory body under the jurisdiction of Ministry of Finance, Government of India. It is tasked with regulating and licensing the insurance and re-insur ...

(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 A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more parties. A contract typical ...

business in India. In October 2024 stock filing, Bajaj Finserv announced that Allianz is considering exiting their life and general insurance joint ventures due to its strategic priorities. As of 17 March 2025, the company is set to acquire the stakes of Allianz SE in life insurance company for . * Bajaj Allianz General Insurance is a private

general insurance General insurance or non-life insurance policy, including automobile and homeowners policies, provide payments depending on the loss from a particular financial event. General insurance is typically defined as any insurance that is not determine ...

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

, established in 2001. As of 17 March 2025, the company is set to acquire the stakes of the German insurer in Bajaj Allianz General Insurance Co. for . * Bajaj Housing Finance is provides various housing finance products and services to individuals and businesses, including home loans, loan against property, and other related products. * Bajaj Finserv Asset Management Company is an

asset management company An asset management company is an asset management / investment management company/firm that invests the pooled funds of retail investors in securities in line with the stated investment objectives. For a fee, the company/firm provides more dive ...

. In March 2023, the final registration from the

Securities and Exchange Board of India The Securities and Exchange Board of India (SEBI) is the Regulatory agency, regulatory body for securities and commodity market in India under the administrative domain of Ministry of Finance (India), Ministry of Finance within the Government ...

was granted to commence mutual fund business operations under ''Bajaj Finserv Mutual Fund''. The AMC has disclosed an average of in average assets under management (AAUM) for the quarter ending 30 September 2024. As of August 2024, the company operates 13 active mutual funds in the country and offers a portfolio that includes equity, debt, and hybrid asset classes. It is ranked among the top 30 out of 45 mutual fund houses in India by AUM. * Bajaj Finserv Direct (Bajaj Markets) operates as an internet-based marketplace of financial products and services. It serves as a registered Corporate Agent under

, a registered Investment Adviser under

, a registered third-party app provider for

Unified Payments Interface Unified Payments Interface, commonly known as UPI is an Indian instant payment system as well as protocol developed by the National Payments Corporation of India (NPCI) in 2016. The interface facilitates inter-bank peer-to-peer (P2P) and pe ...

payments, and a digital lending platform for its partner institutions. * Bajaj Finserv Health is a healthtech company. In early 2024, the company acquired Bangalore-based Vidal Healthcare Services and its two subsidiaries as part of its pan-India expansion of outpatient delivery services. As of December 2024, the company's network includes more than 100,000 hospitals and 80,000 doctors.

Philanthropy

* January 2023, Bajaj Finserv launched a scholarship program with

National Centre for Promotion of Employment for Disabled People National Centre for Promotion of Employment for Disabled People is a New Delhi-based trust established in 1996. It was set up post enactment of 1995 PWD Act to champion the cause of disability rights. The organization's philosophy is that soci ...

for the students with disabilities. * August 2023, the company, in association with Pune-based Ruby Hall Clinic launched CyberKnife S7 system for non-invasive radiation therapy to treat cancerous tumours. * December 2023, Bajaj Finserv collaborated with the

All India Council for Technical Education The All India Council for Technical Education (AICTE) is a statutory body, and a national-level council for technical education, under the Department of Higher Education (India), Department of Higher Education. Established in November 1945 firs ...

and the

National Skill Development Corporation National Skill Development Corporation (NSDC) is a not-for-profit public limited company incorporated on July 31, 2008, under section 25 of the Companies Act, 1956 (corresponding to section 8 of the Companies Act, 2013). NSDC was set up by Mi ...

to launch a certificate programme focused on banking, finance, and insurance. Together they launched a skill development initiative, named Project ODISERV, at

Gangadhar Meher University Gangadhar Meher University, Amruta Vihar, formerly Sambalpur College and Gangadhar Meher College, is a state university A public university, state university, or public college is a university or college that is State ownership, owned by ...

Sambalpur Sambalpur () is the fifth largest city in the Indian State of Odisha. It is located on the banks of river Mahanadi, with a population of 335,761 (as per 2011 census). Prehistoric settlements have been recorded there. It is the home of the Samb ...

Odisha Odisha (), formerly Orissa (List of renamed places in India, the official name until 2011), is a States and union territories of India, state located in East India, Eastern India. It is the List of states and union territories of India by ar ...

History

Subsidiaries

Philanthropy

See also

References

Further reading