Mar 25, 1987 CE
Incorporation as Bajaj Auto Finance Limited
Bajaj Finance was incorporated on March 25, 1987 as Bajaj Auto Finance Limited, a non-banking financial company focused on financing two-wheelers and consumer durables.
Chronological Storyline (40 Milestones)
1988 CE
Commencement of Business Operations
Bajaj Auto Finance started its business operations, providing loans for Bajaj Auto vehicles and related consumer products.
1989 CE
First Loan Disbursement
Bajaj Finance made its first loan disbursement, marking the start of its lending operations.
1992 CE
Expanded to Consumer Durables Financing
The company began financing consumer durables like electronics and appliances, diversifying beyond vehicle loans.
1995 CE
Reached 100 Branches Across India
Bajaj Finance expanded its branch network to 100 locations, increasing its pan-India presence.
1997 CE
Renamed to Bajaj Finance Limited
The company changed its name from Bajaj Auto Finance Limited to Bajaj Finance Limited to reflect a broader range of financial services.
1999 CE
Launched Loan Against Property (LAP) Product
Bajaj Finance introduced loan against property products, entering the secured lending space.
2000 CE
Initial Public Offering (IPO) on BSE and NSE
Bajaj Finance went public with an IPO, listing its shares on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), raising capital for expansion.
2001 CE
Listed on BSE and NSE
Bajaj Finance shares began trading on the Bombay Stock Exchange and National Stock Exchange post-IPO.
2003 CE
First Credit Rating from CRISIL
Bajaj Finance received its first credit rating from CRISIL, which was 'AA+', reflecting strong financials.
2005 CE
Crossed ₹1,000 Crore in Assets Under Management
Bajaj Finance achieved a milestone of ₹1,000 crore in assets under management, signaling rapid growth in its lending portfolio.
2006 CE
Sanjiv Bajaj Became Chairman
Sanjiv Bajaj took over as Chairman of Bajaj Finance, succeeding Rahul Bajaj, and led the company's transformation into a diversified NBFC.
By Sanjiv Bajaj - https://www.flickr.com/photos/187733302@N04/51685565266, CC BY 2.0, https://commons.wikimedia.org/w/index.php?curid=112579422
2007 CE
Demerger of Bajaj Finserv and Bajaj Finance
Bajaj Auto demerged its financial services arm into Bajaj Finserv, making Bajaj Finance a subsidiary of Bajaj Finserv, which streamlined corporate structure.
By Bajaj Finserv - https://www.flickr.com/photos/199950840@N05/53495072827/, CC BY-SA 2.0, https://commons.wikimedia.org/w/index.php?curid=144735834
2008 CE
Recategorized as Systemically Important NBFC
Bajaj Finance was classified as a Systemically Important Non-Deposit Taking NBFC by the Reserve Bank of India (RBI), leading to stricter regulatory compliance.
2009 CE
Launch of Home Loan Business
Bajaj Finance expanded into housing finance, offering home loans and contributing to its diversification beyond vehicle and consumer loans.
2010 CE
Entered Strategic Partnerships with OEMs
Bajaj Finance formed partnerships with original equipment manufacturers (OEMs) like Bajaj Auto and others to provide point-of-sale financing for two-wheelers.
Jun 1, 2011 CE
Launched Bajaj Finance Car Loan
Bajaj Finance entered the car loan segment, offering financing for new and used cars.
2011 CE
Received 'AAA' Credit Rating from CRISIL
Bajaj Finance achieved the highest credit rating 'AAA' from CRISIL for its long-term debt instruments, reflecting strong financial stability.
2012 CE
Launch of Bajaj Finance Credit Card
Bajaj Finance introduced its own co-branded credit card in partnership with Visa, expanding into the plastic money segment.
2013 CE
Crossed ₹10,000 Crore in Assets Under Management
Bajaj Finance's assets under management surpassed ₹10,000 crore, driven by growth in its loan portfolio across segments.
2014 CE
Acquired Deutsche Bank's Consumer Finance Business in India
Bajaj Finance acquired the consumer finance business of Deutsche Bank in India, gaining access to a larger customer base and enhancing its product suite.
Mar 15, 2015 CE
Issued First Retail NCDs
Bajaj Finance issued its first retail non-convertible debentures (NCDs) to raise funds from individual investors.
2015 CE
Launch of Bajaj Finance Fixed Deposit
Bajaj Finance launched fixed deposit products for retail investors, offering attractive interest rates and contributing to its liability franchise.
2016 CE
Introduced 'Bajaj Finserv' Brand for Financial Services
Bajaj Finance and its affiliates adopted the 'Bajaj Finserv' brand umbrella, unifying the group's financial services under a common identity.
2017 CE
Market Capitalization Crossed ₹1 Lakh Crore
Bajaj Finance's market capitalization on BSE and NSE exceeded ₹1 lakh crore, making it one of the most valuable NBFCs in India.
Jul 20, 2018 CE
Launched 'Bajaj Finserv' Mobile App
Bajaj Finance launched a unified mobile app under the Bajaj Finserv brand for managing loans, investments, and insurance.
2018 CE
Launched 'Insta Loan' Digital Platform
Bajaj Finance introduced an end-to-end digital lending platform 'Insta Loan', enabling instant approval and disbursal for pre-approved customers.
Dec 1, 2019 CE
Customer Base Crossed 25 Million
Bajaj Finance's customer base surpassed 25 million, driven by its wide product range and digital initiatives.
2019 CE
Introduced EMI Network for Online Purchases
Bajaj Finance launched its online EMI network, allowing customers to convert purchases into easy installments across e-commerce platforms.
Jun 30, 2020 CE
Moratorium Period Loan Restructuring
Bajaj Finance offered loan restructuring to customers affected by COVID-19 as per RBI guidelines, affecting its asset quality.
2020 CE
Partnership with Amazon Pay for Digital Lending
Bajaj Finance partnered with Amazon Pay to offer digital lending solutions to Amazon customers, expanding its reach in the e-commerce ecosystem.
Oct 5, 2021 CE
Launched 'Bajaj Finance' Lite App
Bajaj Finance launched a simplified app for quick loan applications and repayments, targeting first-time users.
2021 CE
Assets Under Management Crossed ₹1.5 Lakh Crore
Bajaj Finance's AUM surpassed ₹1.5 lakh crore, reflecting strong recovery post-pandemic and consistent loan growth.
Apr 1, 2022 CE
RBI Imposed Penalty for Non-Compliance
The Reserve Bank of India imposed a monetary penalty on Bajaj Finance for regulatory non-compliance in certain loan recovery practices.
2022 CE
Launch of Bajaj Finance UPI
Bajaj Finance entered the UPI payments space by launching its own UPI app, enabling peer-to-peer and merchant transactions.
Sep 15, 2023 CE
Introduced 'Zero' Processing Fee on Loans
Bajaj Finance launched a limited-period offer waiving processing fees on all loans, boosting customer acquisition.
2023 CE
Appointed Rakesh Bhatia as Managing Director
Rakesh Bhatia took over as Managing Director of Bajaj Finance, succeeding Sanjiv Bajaj, who remained Chairman, ushering in new leadership.
Feb 28, 2024 CE
Share Price Hit 52-Week High
Bajaj Finance's stock reached a 52-week high of ₹7,500 on NSE, driven by strong earnings and investor confidence.
Aug 1, 2024 CE
Launch of Bajaj Finance Personal Loan Instant Top-Up
Bajaj Finance introduced an instant top-up feature for existing personal loan customers, enhancing customer experience.
2024 CE
Assets Under Management Crossed ₹3 Lakh Crore
Bajaj Finance's AUM exceeded ₹3 lakh crore, making it one of the largest NBFCs in India by asset size.