Madhur Bajaj Announces Not to Stand for Re-Election as Non- Executive Director of Bajaj Finserv Ltd
April 26, 2024 at 02:14 pm IST
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Bajaj Finserv Ltd. announced that at the board meeting held on 26 April 2024, the company announced that Shri Madhur Bajaj has expressed his willingness to step down from the Company on account of health reason. He has informed that he will not be offering himself for re-election at the up coming annual general meeting. Accordingly, he will cease to be Non-Executive Director of the Company at the up coming annual general meeting scheduled to be held on 24 July 2024.
Bajaj Finserv Limited is a holding company for various financial services businesses. It is engaged in the business of promoting financial services such as finance, insurance, broking, investments, and others, including distribution using digital platforms through its investments in subsidiaries and joint ventures. It is also engaged in the business of generating power through wind turbines, a renewable source of energy. Its segments include life insurance, general insurance, windmill, retail financing, and investments and others. It focuses on urban lending, two and three-wheeler lending, small and medium enterprise lending, rural lending, mortgages, loan against securities, and commercial lending. It serves various customers through its subsidiaries by providing financial products and services for asset acquisition through financing, asset protection through general insurance, family and income protection in the form of life and health insurance, and retirement and savings solutions.