Board of Directors

Sanjiv Bajaj, Chairman (Non-Executive and Non-Independent Director)

He 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 consolidated revenue of over Rs. 1,33,800 crore and consolidated profit after tax of over Rs. 8,800 crore for FY2024-25. The combined market cap of the three listed companies - Bajaj Finserv, Bajaj Finance and Bajaj Housing Finance is Rs. 10,32,800 crore, as on 30 September 2025.

Under his leadership, Bajaj Finserv Limited has emerged as one of India’s leading and most diversified financial services companies with solutions across lending, life insurance, general insurance and investments. With a consumer-first, digital approach and a culture focused on innovation, it has reshaped digital consumer financing in India.

He is on the board of his group operating companies as the Chairman of Bajaj Finance Limited, Bajaj Housing Finance Limited, Bajaj General Insurance Limited, Bajaj Life Insurance Limited, Bajaj Finserv Asset Management Limited and Maharashtra Scooters 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.

He was the President of the Confederation of Indian Industry (CII), FY 2022-23.

He is a member of J.P. Morgan - Asia Pacific Council, a member of the International Advisory Council of Brookings Institute, USA, and a member of the International Advisory Board of the Global Finance & Technology Network (GFTN). He is co-chair for India Skills Accelerators – a Ministry of Skill Development and Entrepreneurship initiative, in partnership with the World Economic Forum. He is also a member of the Board of the Indian School of Business (ISB). He also chairs India@100 Foundation, CII’s non-profit initiative that champions next generation reforms shaping India’s vision for inclusive economic growth, nurturing innovation, strengthening India’s cultural influence and ensuring sustainable progress.

Over the years, he has received several prestigious honours for his contribution to the financial services space, including:

• Lifetime Achievement Award by Financial Express Best Banks 2026
• AIMA-JRD Tata Corporate Leadership Award for the Year 2023
• The Lakshmipat Singhania IIM Lucknow National Leadership Award, 2023, received from the Hon’ble President of India Smt. Droupadi Murmu
• Economic Times Business Leader of the year 2018
• Financial Express Best Banker of the year 2017
• Ernst & Young Entrepreneur of the year in 2017
• Business World’s Most Valuable CEOs in India for 2015 and 2016

He holds Bachelor’s degree in Engineering (Mechanical) with distinction from the University of Pune, a master’s degree in science (Manufacturing Systems Engineering) with distinction from the University of Warwick, U.K. and a Master’s degree in Business Administration from Harvard Business School, U.S.A.

Mr. Niraj Bajaj, Non-Executive and Non-Independent Director

He has been Chairman of Mukand Ltd. since July 2007 and serves as its Managing Director. He is also Chairman of Bajaj Auto Ltd. and Vice Chairman of Bajaj Holdings & Investment Ltd. He is also Chairman of Jamnalal Sons Pvt Ltd and Bachhraj & Company Pvt Ltd. He is one of the Promoters of the Bajaj Group. He has an entrepreneurial career spanning more than 42 years.

He was selected by World Economic Forum, as one of the “Global Leaders for Tomorrow”, in 1993. He was the President of Indian Merchants’ Chamber, Alloy Steel Producer’s Association of India and Indian Stainless Steel Development Association.

A three time All India Table Tennis Champion, he has represented the Country for 7 years of which 4 years as Captain. He has been recipient of several prestigious awards including the Arjuna Award, Shiv Chhatrapati Award and Maharashtra Gaurav Puraskar.

He brings on the Board his vast business experience in handling various matters related to managing external challenges and provides a long-term perspective that is very critical for the business.

He holds Bachelor’s degree in commerce from Sydenham College of Commerce and Economics, Mumbai and a Master’s degree in Business Administration from Harvard Business School, U.S.A.

Padmaja Chunduru, Independent Director

She is a seasoned business leader with over 37 years of experience in banking and capital markets in India and USA. She has led iconic institutions including National Securities Depository Ltd. and Indian Bank as the MD & CEO. As MD & CEO of Indian Bank, she successfully steered the merger of Allahabad Bank into Indian Bank. Significant improvement in all key business metrics and the empathetic handling of the cultural integration of two diverse banks became the subject of a case study "Merger of Equals" by Harvard Business School Publishing.

She has been on the Boards of Life Insurance Corporation of India and National Payments Corporation of India, International Securities Services Association and Asia Pacific Central Depository Group, Institute of International Bankers and Asia Society, New York. Currently she is a member of the Insurance Advisory Committee of Insurance Regulatory and Development Authority of India and the Centre for Corporate Governance and Sustainability Advisory Council, IIM Bangalore.

She has been awarded Best CEO (BFSI) for 2021 by Business Today and Best CEO 2021 for Women Leadership by Economic Times. She has been acknowledged as one of the Most Powerful Women (MPW) in Business by Fortune India and Business Today, for 2022 and 2023.

She holds a Post-Graduate in Commerce from Andhra University.

Apurva Diwanji, Independent Director

He is a reputed Advocate in India and Solicitor (Supreme Court of England & Wales). He is the Senior Partner of Desai & Diwanji, a leading law firm. With rich experience of more than three decades India and abroad, he specialises in mergers and acquisitions, international capital markets, co-investments, private equity and joint ventures. He has led and advised on a variety of transnational and cross border transactions, sale/acquisition of existing Indian companies, and public issues.

He has advised on all types of M&A transactions including mergers and amalgamations, asset and business purchases and sales, securities sales and purchases, tender offers, buy-outs, joint ventures and strategic buy outs. He advises on the full spectrum of such matters including corporate governance issues, transaction structuring FDI and FEMA issues, SEBI regulations and has advised on transactions across various industry sectors. He has also been advising on corporate governance and minority protection issues and large corporate disputes.

He has completed M.A. in Law, Downing College, Cambridge University, UK and BA (Econ), St. Xaviers’ College, Mumbai.

N Srinivasa Rao, Non-Executive and Non-Independent Director

Dr Srinivasa Rao is currently working as Chief Economist and President at Bajaj Finserv Limited (BFL). He is a public policy specialist and economist of repute with over 29 years of experience in both Central and State Governments. Prior to this role, he had been Economic Advisor, Ministry of Finance, Govt. of India as a member of the esteemed Indian Economic Service (IES). He held key positions across both the Union and State Governments, as well as Regulatory bodies, specialising in framing, implementing, and evaluating macroeconomic frameworks, as well as financial and development policies.

He was actively involved in the mergers of Public Sector banks and spearheaded the listing of India’s national reinsurer, GIC and the New India Assurance Ltd. Underlining his multifaceted engagements in the financial and regulatory landscape, he also held extensive board positions at some of the leading financial institutions such as Indian Bank, Vijaya Bank, Oriental Insurance Company, Agricultural Insurance Company Ltd, apart from being a member on the Insurance Advisory Committee and also on the Governing board of National Insurance Academy, Institute of Actuaries and the Board of Insurance Regulatory and Development Authority of India.

His academic background includes a Postgraduate degree in Economics and a Ph.D. in Public Finance from the University of Hyderabad and a graduate degree from SRCC, Delhi University.

Sanjiv Sahai, Independent Director

He is a former IAS officer and has been a part of policy making at the highest levels, both in the Government of India and state government: as Director in Prime Minister’s Office, as Additional Secretary and subsequently as Secretary in the Ministry of Power. He has worked in the infrastructure sector for over 26 years and has vast experience and first-hand knowledge of issues such as infrastructure financing, risks and contract management. He was part of the Taskforce on infrastructure set up by the then Prime Minister. As a key member in the Prime Minister’s Office (1998-2003), he has handled, amongst others, formulation of strategies and policies for infrastructure development, the highways and telecom sectors, senior appointments in the government of India, judiciary, armed forces, banks, public sector undertakings.

As the Finance Secretary of Delhi Government (2015-18) he transitioned VAT to GST. Concurrently as the Chairman of Delhi Financial Corporation, he managed the risks in lending and recoveries in the SME sector and also improved the quality of assets. As the Secretary in Ministry of Power, Govt. of India (2019-21), he formulated policies to enhance the sustainability of the power sector, encouraging investment in renewables and improving grid management.

He has also worked in the private sector as a member of the Tata Administrative Service, and later as Advisor in Infrastructure Development Finance Company (IDFC) and as MD & CEO of Delhi Integrated Multimodal Transit System Ltd.

He has completed a Masters in Public Policy, Princeton University, USA (Specialisation: Financial Management and Economic Policy), Master of Arts, Delhi University and Bachelor of Arts, Delhi University.

S Sreenivasan, Non-Executive and Non-Independent Director

He is currently President – Insurance & Special Projects of Bajaj Finserv Limited, the holding company of the Company. He previously served as the Chief Financial Officer of Bajaj Finserv Limited for over a decade. He has been the Chairman of the National Committee of Chief Financial Officers (CFO) of the Confederation of Indian Industry. He was chosen CFO of the year (BFSI) by the CII in 2021 and is actively involved in standards forums and advisory committee of the Securities and Exchange Board of India (SEBI).

He has nearly four decades of experience as a senior finance professional in a variety of assignments in India and abroad. Prior to joining Bajaj Finserv Limited in 2011, he has held senior positions in Bajaj General Insurance Limited (previously Bajaj Allianz General Insurance Co. Ltd.) as CFO, Bahrain National Holding Company (a holding Company for general and life insurance businesses) apart from early stints in Thermax Devilbiss Limited and Bajaj Auto Limited.

Apart from a deep insight into various aspects of life, general and health insurance, he has significant expertise in a wide gamut of areas including business strategy, planning, corporate finance, portfolio management, risk management and various aspects of general management of companies.

He holds a Bachelor’s Degree of Science (Physics, Mathematics and Statistics) from the University of Kerala, a Chartered Accountant, a Cost Accountant, a Chartered Financial Analyst (CFA Institute, Virginia, USA), MBA from the Indian Institute of Management, Calcutta. He was the first rank in Kerala University in B Sc. (Physics) and featured in the All India Merit list for CA Intermediate and final examinations.

Anup Wadhawan, Independent Director

He is a former IAS officer and experienced economic and public policy professional with over 41 years’ experience in various sectors including the civil service, regulation, academia, private sector and international development agencies. In Government he acquired experience at the National, Provincial & Field / District level, including in leadership roles in framing / implementing economic / development policy. He served as the Commerce Secretary to the Government of India for 3 years. He was also Director General of Foreign Trade, Additional / Joint Secretary in Dept. of Financial Services, Joint Secretary, Capital Markets in the Dept. of Economic Affairs and Director in the Prime Minister's Office.

At the provincial level he was Principal Secretary / Secretary to the Govt. of Uttarakhand in various departments ranging from Urban Development, Forests and Environment to Home. While in Govt. he also held Board positions in various public sector undertakings of Govt. of India like Government E-Marketplace, Bank of India, and the Agriculture Insurance Company of India, and in regulatory bodies like Insurance Regulatory and Development Authority of India and the Pension Fund Regulatory and Development Authority. He also served / taught in international developmental and academic institutions.

He has completed a Ph.D. in Economics from Duke University, USA, a Master’s degree in Economics from Delhi School of Economics and a Bachelor of Arts (Hons) degree in Economics from Delhi University.

Tapan Singhel, Managing Director and Chief Executive Officer

He started his career with a prominent PSU insurer as a direct officer in 1991 before joining the Company in 2001. He has been with the Company since its inception and a part of the core team formed to plan and execute the retail market strategy of the Company.

He has been recipient of numerous awards and recognitions, including Bhartiya Mahantam Vikas Puraskar 2024-25, Most Inspirational Leader by The Brand Story and CEO of the Year award at the India Insurance Summit and Awards 2025. He has been one of the most prominent figures in the insurance industry in India and holds a host of prestigious positions across several boards and committees at national level, including, the Chair of General Insurance Council, and Chairman of CII National Committee on Insurance and Pensions, to name few. He is also in Governor's Council of World Economic Forum.

He has completed master’s in science in Physics from Banaras Hindu University. He has also been bestowed with an honorary doctorate in management by the Kaziranga University.