Non-banking financial firm (NBFC) Bajaj Finance and telecom giant Bharti Airtel have launched a strategic alliance to provide its clients with digital financial services. The two businesses asserted in a joint statement that the partnership will open the door for the development of the biggest financial services digital platform in India. The telecom giant will first make Bajaj Finance’s financial solutions available on its Airtel Thanks app as part of the cooperation. After that, the telecom would also provide the 27 products offered by Bajaj Finance at its retail locations. A service pilot has already been started by the companies. The Airtel Thanks app currently offers two financial products, but by March of this year, four more will be available on the app: personal, business, and gold loans, as well as a co-branded “Insta EMI” card. By the end of 2025, Airtel intends to provide about ten of Bajaj Finance’s financial products.
Marking Phygital Presence in Financial Sector
Through this collaboration, Airtel and Bajaj Finance hope to increase the uptake of financial services and products by utilising their physical presence. According to the companies, the agreement will allow them to connect new users with the official financial system and access new-to-credit clients. According to the statement, both businesses are dedicated to providing seamless customer service, robust regulatory compliance, and data privacy and security as part of their cooperation. Additionally, the two will use artificial intelligence (AI) to “improve customer experiences and increase efficiencies.” The combined reach, scale, and distribution strength of the two businesses will be the foundation of this cooperation and aid in its success in the market, according to Gopal Vittal, managing director and vice chairman of Bharti Airtel. In addition to investing in and expanding the company, Airtel is establishing Airtel Finance as a strategic asset for the group. Rajeev Jain, MD of Bajaj Finance, commented on the agreement, saying that it not only uses India’s digital infrastructure for inclusive growth but also combines the reach and experience of two of the country’s most reputable and well-known businesses. In partnership with Airtel, Bajaj Finance aims to become India’s preferred financier and provide financial services to millions of people, especially in rural areas.
Growing Nexus of Fintech Market
In an effort to take advantage of the rising demand for online financial services, an increasing number of Indian conglomerates are entering the fintech space. Reliance is also engaged in the pursuit of a portion of the fintech market through Jio Financial Services. Fintech ventures received 21% of the $12 billion in funding that Indian entrepreneurs raised in 2024, demonstrating the magnitude of the industry. Last year, the industry closed 162 agreements totalling $2.5 billion. By 2030, the domestic fintech ecosystem is expected to reach a $2.1 trillion market potential, according to various media reports.
In this world of clashing industries, we must come across the name of the Bajaj group. Proudly calling itself an indigenous company, Bajaj Group is a multi-industry (also known as a conglomerate). This industry is one of the most well-known in our country. It is also one of the oldest of its kind. Here we will talk about its business model and its secret to strive and perform well.
Bajaj Group of companies, being India’s one of proudly indigenous companies, was founded in 1926. Its founder was Mr Jamnalal Bajaj. It set up its first headquarters in Mumbai. It boasts of being one of the oldest multi-business companies in our country. It serves worldwide, so it’s also multinational. Having achieved the ‘ First in the industry’ status with all plants certified and several other international awards with its excellent automobile production, Bajaj stands high in business standards.
Areas of operation
The Bajaj groups started operating first in India and, with the flow of time, placed themselves in the list of oldest conglomerates of India. With about 40 companies and nine subsidiaries of the Bajaj Group, the company exports mainly to Sri Lanka, Colombia, Indonesia, Netherlands, and Bangladesh. And its soon wanting to expand its exports to Russia. Not just this, the business of Bajaj Group is expanding worldwide nearly to every corner of the world.
Key products and services
Being a multi-business company, Bajaj deals in automobiles, insurance, financial services, electrical devices, consumer care, alloy and steel, and finally in sports. A single company provides all these services. Here is a quick list of services offered by the Bajaj Group:
1. Automobile: Being one of the largest producers and exporters of automobiles in India, the Bajaj group exports up to 50-52℅ of its automobile production. Bajaj auto holdings limited as an investment company, Bajaj Auto international holdings BV, Maharashtra scooters Limited, PT Bajaj Auto Indonesia are all under Bajaj Group.
2. Insurance: Bajaj groups is also known widely for its insurance providing services. Bajaj Allianz General Insurance Company Limited, Bajaj Allianz Life Insurance is essential to assistance provided by the company.
3. Finance services: In the field of finance, we have Bajaj finance Limited and Bajaj Finserv Limited, and these deal with financial assistance and distribution of products along with hiring and leasing.
4. Consumer care: Mostly, cosmetics and hair care products form a part of this. Various oils, face wash, soaps, scrubs, face masks, facial creams are products it deals with.
5. Electrical Device: Various electrical devices, primarily fans, air conditioners, poles, lattice closed towers, and high masts, form a part of the electrical devices Bajaj Groups deal with.
6. Alloy and steel: Mukand International Limited is the part which deals with the trading of metals, alloys, and steel along with alloys of iron. Hospet Steel Limited Plant is the iron-making division, and also in steelmaking and rolling mill. 7. Electrical components: Electrical devices such as GLS lamps, fluorescent lamps, electrically operated fans, lights, and various miniature lamps are part of Bajaj Group’s productions.
8. Sports: Various sporting equipment and gym equipment are products of Bajaj. Equipment relating to various sports and also cycles are a part of it.
Target audience
Bajaj provides many different services in many other fields. It caters to the needs of everyone. Without any distinction in gender, age, or irrespective of the sex of a person, Bajaj groups provide their services. Being a multi-business company, it is a conglomerate in its truest sense. Its services attract an array of audiences, from a retired individual to a homemaker to a sportsperson.
Business Model Of Bajaj Group
Bajaj Group
Bajaj Group showcases an extraordinary business model for others to follow irrespective of what industry they are dealing with. A multi-business company isn’t set on its own; it requires strategy and all pooled into its business model. It has a diversified business structure and mainly focuses on three things – acquiring many customers irrespective of their age and sex. The second is providing a great variety of services that can cater to the needs of all its consumers. The third one is the expansion of its exports and services into different other countries.
Its business model helps it to get a maximum amount of profit. Its revenue means include exports, shares, selling within the country, sponsoring, and manufacturing much-needed materials.
What is unique in the Business Model of Bajaj Group?
As already discussed, Bajaj groups believe in catering to the needs of their large and diversified customers. It’s not easy to adopt these well-crafted strategies, but they made Bajaj Group’s business model inspiring every industry. These include:
1. High exports: Exports form an essential part of the business model of Bajaj groups. It mainly exports its two-wheelers to several countries. Also, the team which handles it is very experienced.
2. Meeting the needs of customers: The prices are reasonable for an Indian household. Also, online marketing and easy EMI options are available to those who want to buy the products
3. A complex and unique distribution network: A highly managed and efficient distribution web that eases the setting up of business both in and outside our country. It has many warehouses and storerooms with its products—a group of trustworthy dealers.
Providing several services and proudly being the most prominent bikes and scooters in our country, nearly 50-52 percent of its sales are exported. Some of its essential strategies in the business model also include promoting its new launch, giveaway and lucky draws, Internet marketing, easy EMI options on various goods. Other methods include different social media accounts which post about the product, providing a great versatility of products, and letting customers decide and review their products.
The wisely crafted business model helps Bajaj groups to extract profit efficiently. First, the services provided by it caters to a large and diverse audience who use its services frequently. The company gains profit from as many national and international consumers as possible. Almost 50 percent of its automobiles are exported. Also, there are numerous ways to make money in its own country.
Bajaj Group makes its money by exports. Bajaj Auto, which is a part of the bajaj Group, manufactures a large number of two and three-wheeled vehicles. These are in great demand in foreign countries. Over more than seventy countries have gotten these vehicles imported from India. It helps in adding to the revenue of bajaj groups. Selling and buying of shares also add to its revenue.
Bajaj is a well-known brand of electronics in India; people buy electronics from this brand in many ways. Indians trust this brand, and because of its excellent performance, its demand is very high in the country. It helps the company to get more money. By using the method of recycling, the company makes its iron and steel. These, when sold this generates a large amount of profit. As steel and iron are used in every place, its sales help the company a lot.
Bajaj has sponsored many events and even supported the Indian teams in some international events, these sponsorship helps get income. Because of the increase in the number of factories at various places, more production is the result. More production means more sales. Also, the taste of people is being taken into consideration to increase the amount of profit.
Conclusion
Bajaj groups which started as small businesses soon grew into a vast business empire. The founder, along with his family, all worked together in making Bajaj one of India’s most profitable brands. Not only does it provides us with a variety of products, but it also engages itself in several welfare activities. This company has won the hearts of both Indians and the people of another country. It is due to its efficiency and diversity of products.
FAQs
What is the revenue of Bajaj group?
Bajaj group has a revenue of more than 50,000 crores in Indian currency.
Who is the MD of Bajaj group?
Rahul Bajaj is the MD of Bajaj groups.
Who are the CEO of Bajaj Group?
Rajiv Bajaj, Sanjiv Bajaj, and Lalit Jalan are the CEO of Bajaj Group.
How many companies are there in Bajaj Group?
There are 34 companies under Bajaj Group of companies.
Bajaj Group is an Indian multinational company that is one of the oldest and largest conglomerates of India.
The group comprises 34 companies with around 36,000 employees across businesses such as two- and three-wheelers, insurance and steel, home appliances, travel and finance, etc. Its flagship company Bajaj Auto ranks as the world’s fourth-largest two- and three-wheeler manufacturer. Some of the notable companies are Bajaj Auto Ltd, Bajaj Finserv Ltd, Hercules Hoists Ltd, Bajaj Electricals, Mukand Ltd, Bajaj Hindusthan Ltd and Bajaj Holding & Investment Ltd.
In recent news, the Bajaj Group has pledged to donate ₹200 crores towards Covid-19 response in addition to ₹100 crores they donated last year to support the government’s fight against the deadly pandemic.
The Bajaj Group of Companies was founded by Jamnalal Bajaj in 1926.
Jamnalal Bajaj was a freedom fighter and a philanthropist, a close confidante of Mahatma Gandhi. He took the novel step of using business to serve society. His endeavors were taken forth and developed by his sons Shri Kamalnayan Bajaj, Ramakrishna Bajaj, and further by his grandson Shri Rahul Bajaj; who are responsible for blossoming the Group and nurtured it to the marvelous stature that it occupies today.
All You Need to Know About Bajaj
Bajaj started its business by setting up a sugar factory in Lakhimpur Kheri of Uttar Pradesh, which was one among the only 30 sugar mills that established the endowment of the sugar industry in India. Today, Bajaj Hindusthan Sugar Ltd. is Asia’s number one sugar manufacturing company and ranks globally among the top four.
Jamnalal Bajaj strongly believed that the common good was more important than individual gain.
Flagship Companies of Bajaj Group
Bajaj Auto Ltd.
Bajaj Auto manufactures two-wheelers and three-wheelers and is headquartered in Pune, Maharashtra.
Bajaj Auto Ltd.
In 1945, Bachraj Trading Corp. Pvt.Ltd., now known as Bajaj Auto Ltd. was founded. Its activity was focused on the selling of foreign motorcycles and auto-rickshaws on the territory of India. In 1959, it was licensed by the government to manufacture two-wheelers and three-wheelers in India. Rahul Bajaj, the son of Kamalnayan Bajaj, later became the head of the Bajaj group in 1965.
Since the year 1995, Bajaj has manufactured more than a million vehicles per year. Nowadays, Bajaj sells its motorcycles, bajaj automobiles, and auto-rickshaws in more than 50 countries of the world and it can compete on the market due to the low prices for its vehicles.
Bajaj Allianz Life Insurance Co. Ltd
Bajaj Allianz Life Insurance is a private general insurance company by Bajaj Group. It is a joint venture between Bajaj Finserv Limited and Allianz SE, a German financial services company; where Bajaj Finserv Limited holds 74% and the remaining 26% is held by Allianz SE.
Bajaj Allianz Life Insurance Co. Ltd
In 2001, Bajaj Allianz General Insurance received an Insurance Regulatory and Development Authority of India (IRDAI) certificate of registration which allowed it to conduct general insurance business, including health insurance, in India.
In January 2014, the company announced it would open up all-women branches.
Bajaj Finserv Ltd.
Bajaj Finserv Limited is a part of Bajaj Holdings & Investments Limited. It is a financial services company by Bajaj which focuses on lending, asset management, wealth management, and insurance. It is a consumer-focused company that emphasizes profitable growth and operational efficiency to deliver the best results to all its stakeholders.
Bajaj Finserv Ltd.
Bajaj Finserv won the CIO 100 Innovation Award for two innovations – EMI Card and Flexisaver, for exemplifying the highest level of operational and strategic excellence in information technology (IT).
Bajaj Electricals Ltd.
Bajaj Electricals is an Indian consumer electrical equipment manufacturing company based in Mumbai, Maharashtra. It has diversified with interests in lighting, luminaries, appliances, fans, LPG-based generators, engineering, and projects. Its main domains are lighting, consumer durable, engineering, and projects.
Bajaj Electricals Ltd.
It was incorporated on 14 July 1938 under the Indian Company Act, 1913 as a public company limited.
Bajaj Finance Ltd.
Bajaj Finance is a bajaj group subsidiary of Bajaj Finserv. It is a non-banking financial company that deals with Consumer Finance, SME (Small and Medium-sized Enterprises) and Commercial Lending, and Wealth Management. The company has 294 consumer branches and 497 rural locations with over 33,000+ distribution points, with headquarters situated in Pune, Maharashtra.
Hercules Hoists Ltd.
Hercules Hoists is a manufacturer of material-handling equipment. The company sells its products under the brand name Indef.
Bajaj Hercules Hoists Ltd.
Incorporated in the year 1962 with technical and financial collaboration from Heinrich de Fries GmbH, Germany; it is a Small Cap company (having a market cap of INR 304.80 Crore) operating in the Industrial Consumables sector.
Hind Musafir Agency Ltd.
Hind Musafir Agency Ltd.
Hind Musafir Agency Ltd. (HMA) is a full-service, IATA-certified travel agency. A part of the Bajaj Group of companies, it is in the business with over 50 years of experience. HMA is also recognized by the Department of Tourism (DOT) India and is a member of “The Travel Agents Association of India” (TAAI)and “Pacific Asia Travel Association” (PATA). HMA has also placed a strong IT backbone with an AMADEUS-enabled system for online Air Bookings.
Mukand Ltd.
Mukand Limited is a multi-division company involved in the business of Manufacturing Steel and Industrial Machinery. Incorporated in 1937 in Mumbai, it manufactures stainless steel, alloy steel, stainless steel billets, exporter of hot-rolled bars.
Mukand Ltd.
Today, Mukand Limited is a leading supplier of alloy steel to the automobile and auto component industry and a leader in the manufacture of high-grade stainless steel in India.
Bajaj Holdings and Investment Ltd.
Bajaj Holdings and Investment Ltd. is a non-banking financial company that is primarily an investment company. The Company focuses on generating long-term capital appreciation. It also provides strong financial, managerial, and operational support to its group companies. Bajaj Auto Holdings Ltd. is a subsidiary of the Company. It is headquartered in Pune.
Bajaj Holdings & Investment Ltd.
Corporate Social Responsibility(CSR) of Bajaj Group
The CSR Policy of Bajaj Group involves various welfare activities that are guided by the concept of trusteeship in business. It is the group’s philosophy that the true and full measure of growth, success, and progress lies beyond the balance sheets or conventional economic indices.
The social and welfare objectives of the Bajaj Group are being fulfilled through the many Trusts and Foundations it has established spending up to 100 million (US$1.4 million) every year.
The major CSR areas of Bajaj Group are Health, Women Empowerment, Education, Rural Development, Environment & Natural Resources and, Self- Reliance.
Conclusion
For Indian society, Bajaj Group is more than a corporate identity. It is an incentive for social empowerment. It offers an extensive range of products and services, now standing tall in the Corporate World.
Bajaj Group – FAQs
Who is the founder of the Bajaj company?
Jamnalal Bajaj is the founder of the Bajaj company.
When was the Bajaj company founded?
The Bajaj company was founded in 1926.
Is Bajaj an Indian Company?
Yes, Bajaj is an Indian conglomerate founded by Jamnalal Bajaj an Indian freedom fighter.
Who is the chairman of Bajaj Group?
Rahul Bajaj is the chairman of Bajaj Auto. Rahul’s grandfather Jamnalal Bajaj founded the Bajaj Group in 1926 and his father Kamalnayan Bajaj succeeded him in 1942.
How many companies are there in the Bajaj group?
There are 34 companies in the Bajaj group including Bajaj Auto Ltd, Bajaj Holdings and Investments Ltd, Mukand Ltd, Bajaj Electricals Ltd, Bajaj International Pvt. Ltd, Bajaj Allianz General Insurance Pvt. Ltd and Bajaj Finserv Ltd.
Is Bajaj Finance good for long-term investment?
Bajaj Finance offers an interest rate that is higher than that offered by most FD providers. This makes it ideal for you to invest in Bajaj Finance Fixed Deposits for long-term benefits.
Is Bajaj FD safe?
Bajaj Finance FD carries FAAA rating by CRISIL and MAAA rating by ICRA, which indicate the highest safety for your capital. These ratings imply a safe investment environment and ensure that you get your returns in a timely manner, without any default on the part of the issuer.
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Finance is a word which everybody has come through and will be going through for perhaps ages also. People love money, love to become rich but most of them don’t know how to manage money. It’s not about hope, but it’s all about proper management.
Bajaj Finserv is a popular firm in the marketplace for loans and money building. It fulfils the dreams of the common people. It provides all types of loans such as personal, home, business loans, etc. It is also engaged in life and general insurances.
Bajaj Finserv – Startup Story
Bajaj Finserv Logo
The company began in April 2007. It was the resultant of the demerger from Bajaj Auto Limited as a separate element to completely focus on the financial services business. The process got completed in February 2008. This was done not only to unlock the value of the business growth in the areas of finance, insurance, etc. but also to strengthen the core businesses. This demerger has facilitated the investors to hold separate stocks and transparent benchmarking of the companies in their respective industries. The constantly changing Indian economy has led to the creation of different customer requirements.
Jamnalal Bajaj is the founder of the company. He is an industrialist. He is the founder of the Bajaj Group of companies. He was very close to Mahatma Gandhi. He was born in 1889, near Rajasthan in a well-to-do Marwari family. He was the third son of his parents. Later, he was adopted and got settled in Maharashtra. After adoption, he was into the family business. During that period, he gained the qualities of a skilled tradesman, bookkeeping and selling and buying of commodities. With time he improved in his task and founded the Bajaj group of industries.
Bajaj Finserv – Business Model
The company especially focuses on insurance, lending, asset and wealth management. Apart from this it also focuses on it’s existing customers. The company considers sustainability to be a very important aspect. Satisfying customers is the main task of the company. This results in a recommending thing. The more customers are satisfied the less the company worries about achieving new customers. It aims at continuous improvement, change and reinvention. Detailing of the loans and all kinds of facilities are accessible within their portal. Creation of trust is a kind of obsession for the company.
The company earns money by attracting a large number of customers with zero cost EMI schemes. But in reality, there’s always a thing called processing fee which works behind the entire procedure. In case of any late payment, interest can go up to 35 to 40% a year. It also provides various offers to its customers to create a large database. It is done to ensure greater sales. Tie-ups lead to a big amount of revenue income.
Bajaj Finserv – Investments
Bajaj Finserv has made 3 investments till date.
Date
Organization Name
Transaction Name
Money Raised
December 21, 2019
Karvy Data Management
Corporate Round
–
October 5, 2019
Federal Transport Private Limited
Debt Financing
$28,000
August 3, 2017
MobiKwik
Series D
Rs 2.3 billion
Bajaj Finserv – Growth
There’s a continuous growth seen in the records of the company. Of the total income in September the quarter rose to INR 6,609.34 crores from INR 4,632.81 crores in 2018. Interest income grew by 37.62%. The amount increased from 4,465.61 crores to 6,145.97 crores. Commission income and fees also increased. It jumped from INR 259.36 crores to INR 628.37 crores. Revenues from the insurance business grew to INR 7,904.85 crores from INR 5,403.69 crores.
The top competitors of the company are IDFC FIRST Bank, Shriram City and Mahindra Finance.
IDFC FIRST Bank is the top rival of Bajaj Finserv. It was founded in 2015 and is headquartered in Mumbai, Maharashtra, India. It is a Public company. It works within the Diversified Financial Services industry.
Shriram City is also one of the top rivals of Bajaj Finserv. It was founded in 1986 and is headquartered in Chennai, Tamil Nadu, India. It competes in the Diversified Financial Services field.
Mahindra Finance is one among the top competitors of Bajaj Finserv. It is headquartered in Mumbai, Maharashtra, India. It works in the Diversified Financial Services field.
Bajaj Finserv – Future Plans
The insurance business witnessed a pickup in activities currently. The company is aiming towards improving the asset quality of the business and the earnings growth. Product innovation is also being expected to keep the insurance business healthy.
Bajaj Finserv – FAQ’s
How can I talk to a Bajaj Finance customer care executive?
You can reach us on 8698010101 (call charges applicable) for your loan and EMI Network Card-related queries. If you are calling from a non-registered mobile number, please keep your 7-digit customer ID or EMI card number handy for verification.
Is Bajaj FD safe?
Your savings are safe with a Bajaj Finance online FD, which is accredited with the highest safety ratings of FAAA by CRISIL and MAAA by ICRA. These high ratings indicate the highest safety of deposit and timely repayments.
How can I get a 50000 instant loan?
Meet urgent funding requirements with an instant personal loan of 50,000 Rupees from Bajaj Finserv. Fulfill minimum eligibility criteria and complete a hassle-free application process to receive instant approval and quick disbursal of INR 50,000 loan. Avail of the advance without providing any collateral.
How can I check my Bajaj EMI card eligibility?
Firstly, the eligibility criteria require you to be between 21 and 60 years of age with a steady income and a good credit history. You should also have a residential address and a bank account in India. After this quick check, you can instantly sign up for the Bajaj Finserv EMI Card if you are eligible.
Is Bajaj Finance good investment?
Though company fixed deposits come with some risk, Bajaj Finance FDs ensure that you have nothing to worry about. They carry the highest credit ratings of FAAA by CRISIL and MAAA by ICRA. These ratings indicate that your investment is safe and that you will receive the maturity returns on time and in full.
Bajaj Finserv – Conclusion
Bajaj Finserv is a company that approves loans and funds in accounts within 24 hours. It is a part of Bajaj Holdings & Investments Limited. It is a financial services company. It especially focuses on insurance, lending and asset and wealth management.
Nitin Konde
