Bajaj Finserv enters infra finance

Bajaj FinServ, the financial services arm of the Bajaj Group, today announced its entry into the infrastructure finance sector and appointed Anand K Gore as its chief executive.

Gore, who would report to Sanjiv Bajaj, managing director of Bajaj Finserv, has 24 years of experience, including five years in the steel industry and about 19 years in banking and financial services, a press release said.

Bajaj Finserv, initially through Bajaj Auto Finance (BAFL), proposes to provide complete financial solutions to infrastructure companies and developers in the power, road telecom and railway sectors, the release said.

As India is all set for a high GDP growth in excess of 8 per cent, the country's infrastructure investments are also expected to grow significantly.

In view of this the central government and RBI have taken steps to catalyse infrastructure financing by banks and NBFCs and newly-introduced separate category of Infrastructure Finance Company (IFC), it added.