Sanjiv Bajaj, the younger son of Rahul Bajaj, was born on November 2, 1969. He completed his Bachelors in Mechanical Engineering from the University of Pune and his M.Sc. (Manufacturing Systems Engineering) with distinction from the University of Warwick, UK. He also did his MBA from Harvard Business School, USA.
Sanjiv Bajaj personal Life
Sanjiv is married to Shefali Bajaj and has two kids.
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Shefali Bajaj has a bachelors in economics and commerce from St. Xavier’s College Mumbai and a Masters in Business Administration from Switzerland. She is a housewife and a full time mother by choice. Shefali is an ardent sports enthusiast.
Shefali is on the Managing Committee of the Empress Garden in Pune. The garden is visited by millions of people every year and the committee strives to keep the garden a certain standard for the residents of Pune to enjoy. She has recently joined the CSR committee of Bajaj Finance and Bajaj Finserv and is involved in helping with children welfare, health and education.
Early life and education
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Born into the Bajaj family, Sanjiv is the great-grandson of founder Jamnalal Bajaj and the younger son of Bajaj Group chairman, Rahul Bajaj. He completed his schooling at a Catholic convent school run by the Swiss missionaries. He then pursued his mechanical engineering degree from the University of Pune, masters degree in manufacturing systems engineering from the University of Warwick, and a management degree from Harvard Business School. Sanjiv is married to Shefali Bajaj and has two kids.
Career
Bajaj began his career in 1994 with Bajaj Auto. During his years at Bajaj Auto, he dabbled in various roles, including heading finance, legal & international business functions within the organisation. He was credited in bringing American-style supply chain management in the Bajaj Auto using General Motors as a model. Currently, he is serving as the non-executive director of Bajaj Auto. After Bajaj Auto’s demerger in 2007, Sanjiv took charge as the managing director of Bajaj Finserv. He took over additional roles like the chairman of Bajaj Allianz Life Insurance and Bajaj Allianz General Insurance, vice chairman of Bajaj Finance, and managing director of Bajaj Holdings & Investment Limited in the year 2012. By 2017, under his leadership, Bajaj Allianz General Insurance became the 2nd most profitable insurance company in India.
Sanjiv was the deputy chairman of Confederation of Indian Industry (CII) Western Region for 2018-19. He was also elected as the chairman of CII Western Region for 2019-20. For 2020-21, he was elected as the vice president of CII. In June 2021, he got elected as the President Designate of CII for 2021-22. and in May 2022, he took charge as the President of CII for 2022-23.
Currently, he is the chairman and managing director of Bajaj Finserv. He was reappointed as managing director for five years in May 2022.
About
Sanjiv Bajaj is the Chairman and Managing Director of Bajaj Finserv Limited, the holding company of the financial services businesses of the Bajaj Group, one of India’s oldest and largest conglomerates, with a revenue of over ₹ 36,692 crore ($ 4.4 billion) and profit of over ₹ 2,866 crore ($ 348 million) for H1 FY2022-23.
Under his leadership, Bajaj Finserv Limited has emerged as one of India’s leading diversified financial services companies with solutions across lending, life insurance, general insurance, and wealth advisory categories. With a consumer-first, digital approach and a culture focused on excellence through innovative disruption, he has reshaped digital consumer financing in India.
Sanjiv is on the board of his group operating companies as the Chairman of Bajaj Finance Limited, Maharashtra Scooters Limited, Bajaj Finserv Asset Management Limited, and the two insurance subsidiaries i.e., Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited. He is also the Managing Director of Bajaj Holdings & Investment Limited (since 2012) and serves as a non-executive director at Bajaj Auto Limited.
Sanjiv is the President of the Confederation of Indian Industry (CII) for 2022-23. He has been engaged with the industry body for many years at the State, Regional and National levels and has led the CII National Committees on Insurance & Pensions, and the CII Taskforce on Fintech.
Sanjiv is an alumnus of the Harvard Business School, USA, a Member of the Board of the Indian School of Busines
Awards
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- AIMA’s Entrepreneur of the year 2019
- Economic Times Business Leader of the year 2018
- Financial Express Best Banker of the year 2017
- Ernst & Young Entrepreneur of the year in 2017
- Transformational Leader award at the 5th Asia Business Responsibility Summit in 2017
- Business World’s Most Valuable CEOs in India for 2015 and 2016
Rajiv and Sanjiv Bajaj taking Bajaj Group to new highs
In June 2013, when Sanjiv Bajaj put in an application with India’s banking regulator to transform his growing consumer-loan company into a bank, it created a mild flutter at brother Rajiv’s auto business. Sanjiv’s finance company is one of the main provider of loans to customers who buy Rajiv’s motorcycles, and the regulator is particular that Indian banks limit such inter-group transactions.
Rajiv and Sanjiv have taken forward the businesses built by their father in their own ways. “The kids are similar (to their father) in determination, commitment and ethical values,” says Niraj Bajaj, an uncle to the brothers, and chairman and MD of Mukand. But they are also different from each other.Sanjiv and Rajiv remain united by blood, but divided by personality. They don’t share the closest of professional relationships, but they reconcile to that truth well and let the ot .“Separating the businesses has worked and it perfectly matches their (the brothers’) DNAs,” says Anil Singhvi, founder and director of Institutional Investor Advisory Services, a proxy shareholder-advisory firm. “This was one of the few demergers that has worked very well. It has been equally good for the family (promoters) and minority shareholders.” But there was a time when the chairman was wavering and wanted to put the demerger on the “backburner”, according to Kejriwal. It took a bit of challenging the status quo with Rahul, by Kejriwal and others, to revive it, own it and see it through.