Bajaj Finance Limited has announced the re-appointment of Pramit Jhaveri as Non-executive Independent Director for a second consecutive term. The Board of Directors approved this decision on 29 April 2026, following recommendations from the Nomination and Remuneration Committee.

Re-appointment Details

The company's board meeting, held on 29 April 2026, approved Jhaveri's re-appointment for a five-year term. The appointment is subject to shareholder approval through a special resolution.

Professional Background

Pramit Jhaveri presently acts as advisor and mentor to startups, corporates and family offices. He is Senior Advisor to Premji Invest and PJT Partners and an Independent Director on the Boards of Bajaj Finance, Bajaj Finserv and Larsen & Toubro. Prior to his current activities, Pramit was Vice Chairman - Banking, Asia Pacific Citi. He served as Chief Executive Officer of Citibank India from 2010 to 2019. He retired from Citibank in November 2019 after a distinguished career in banking of 32 years, having joined the firm as a 23 year old in 1987.

Educational Qualifications and Other Activities

Jhaveri holds a Bachelor of Commerce degree from Sydenham College, Mumbai University and an MBA from the Simon School of Business, University of Rochester. He is an avid tennis player, a keen follower of cricket and soccer and a long standing collector of Indian contemporary art. Beyond his corporate roles, he serves as Trustee on several philanthropic and nonprofit entities in India, including Pratham Education Foundation, World Monuments Fund India, CSMVS museum, Museum of Art and Photography (MAP) in Bangalore, National Centre for Performing Arts (NCPA), and the University of Rochester, New York.

Regulatory Compliance

The company confirmed that Jhaveri is not debarred from holding the office of Director by virtue of any order passed by SEBI or any other authority, making him eligible for re-appointment. The disclosure was made pursuant to Regulation 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board meeting commenced at 1.45 p.m. and concluded at 3.50 p.m. on 29 April 2026.

Board Independence

The company disclosed that Pramit Jhaveri is not related to any of the directors of the company, maintaining the independence requirements for his role as Non-executive Independent Director.

Bajaj Finance Limited has formally notified BSE and NSE that Shri Rajiv Bajaj, Non-Executive Director, will step down from his position at the company's annual general meeting scheduled for 30 July 2026. The resignation follows his decision not to seek re-election at the forthcoming AGM.

Regulatory Disclosure Details

The company has made this disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. In the formal communication to both stock exchanges, Bajaj Finance confirmed that Shri Rajiv Bajaj has expressed his willingness to step down and will not be offering himself for re-election.

Board Meeting Proceedings

The Board of Directors acknowledged Shri Rajiv Bajaj's decision during their meeting held on 29 April 2026. The board placed on record its sincere appreciation for his valuable service and contribution during his long association with the company. The board meeting commenced at 1.45 p.m. and concluded at 3.50 p.m.

Compliance Framework

The notification to stock exchanges was signed by R. Vijay, Company Secretary, on behalf of Bajaj Finance Limited. The company has requested both BSE (Scrip Code: 500034) and NSE (Scrip Code: BAJFINANCE-EQ) to treat this communication as compliance with Regulation 30 of SEBI Listing Regulations, read with the SEBI Master circular dated 30 January 2026.

This corporate governance development marks the end of Shri Rajiv Bajaj's tenure as Non-Executive Director, with his resignation becoming effective at the close of business hours on the AGM date.