Anup Saha resigns as Bajaj Finance MD; Jain redesignated as VC & MD

Anup Kumar Saha resigns as Bajaj Finance MD, with Rajeev Jain re-designated as Vice Chairman and Managing Director for the remainder of his term

Anup Kumar Saha, who succeeded Rajeev Jain as Managing Director of Bajaj Finance on April 1, 2025, has resigned from the position citing personal reasons, the company said in an exchange filing on Monday. The Bajaj Finance Limited (BFL) board has redesignated Jain as Vice Chairman and Managing Director.

 

“Consequent to the resignation of Anup Kumar Saha and in the interest of continuity of management, the board has, in addition to Rajeev Jain’s existing powers and roles as executive vice-chairman of the company, vested him with the powers, roles, and responsibilities of management of the company and re-designated him as Vice-Chairman and Managing Director of the company for the remainder of his term, i.e., until 31 March 2028,” the lender said in the exchange filing.

 

Saha was the deputy MD at Bajaj Finance before succeeding Jain as MD in April. His term was supposed to end in March 2028. Saha joined Bajaj Finance back in 2017. Previously, he worked at ICICI Bank for 14 years, where he held senior roles in credit cards, mortgages, auto loans, and structured finance.

 

Jain has been with the company since 2007 and took over as the MD in 2017. Jain was instrumental in transforming the company into a diversified finance institution.

 

Interestingly, Saha’s resignation comes amid reports suggesting that he is one of the candidates shortlisted for the position of IndusInd Bank’s MD & CEO.