India’s financial sector is diverse and rapidly evolving. Numerous companies offer a variety of services for all your monetary needs. It is important to learn about the solutions provided by some of the leading finance companies in India. Understanding the key players in this sector can help you make informed decisions. When deciding where to bank, invest, or borrow, consider the following list:
ICICI Bank
ICICI Bank is one of India’s leading private-sector banks. It has established a strong presence in retail and corporate banking. Founded in 1994, it has grown to offer a diverse range of financial products and services. It provides products like savings accounts, home loans, credit cards, and so on. You can also opt for investment options like mutual funds and fixed deposits.
Furthermore, you can get health and life insurance policies through its subsidiaries. Check ICICI Lombard for general insurance, including car, two-wheeler, and health insurance. Meanwhile, you can get life insurance via ICICI Prudential Life.
ICICI Bank also caters to the needs of businesses. It offers services such as corporate banking, trade finance, and treasury solutions. Renowned for its technological advancements, the bank offers exceptional customer service. It has an extensive network of branches and ATMs across the country. Its ICICI Mobile Pay App offers seamless banking services on your phone. This helps make banking much more convenient for you.
Muthoot Finance
Muthoot Finance is one of the largest gold financing companies in India. Established in 1997, it primarily focuses on providing loans against gold jewellery. This caters to a large customer base across urban and rural areas.
Apart from gold loans, Muthoot Finance offers other financial solutions as well. These include personal loans, housing finance, insurance services, NPS, and more. The company’s vast branch network and quick loan disbursements make it an ideal choice. Its customer-centric approach has made it a trusted name in the sector.
Bajaj Finserv
Bajaj Finserv is a financial services arm of the Bajaj Group, providing a wide range of financial products and services. Established in 2007, it has quickly grown to become a major player in the Indian financial market.
Bajaj Finserv offers consumer finance, SME finance, commercial lending, and wealth management services. Its product portfolio includes personal loans, home loans, business loans, and credit cards. The company also offers investment options like fixed deposits and mutual funds.
Innovative services like the flexi loan facility make Bajaj Finserv a favourable choice. Its strong digital presence and commitment to customer satisfaction are major advantages.
L&T Finance
L&T Finance, a subsidiary of Larsen & Toubro Limited, was established in 1994. It offers a comprehensive range of retail, corporate, and rural finance solutions.
It provides a variety of loans and other credit facilities. These include farm equipment finance, two-wheeler loans, home loans, and microfinance. It also offers investment and wealth management services, mutual funds, and insurance products.
The company’s diversified offerings and significant rural presence contribute to its success. Also, its focus on infrastructure and real estate finance makes it a preferred choice.
SBI Cards and Payment Services Limited
SBI Cards and Payment Services Limited is asubsidiary of the State Bank of India. It is a leading credit card issuer in India. Established in 1998, it offers a wide range of credit cards to cater to the diverse needs of consumers.
The company offers various credit cards tailored to different customer segments. These include lifestyle, shopping, travel, and rewards cards. It also provides services such as card loans, EMI conversions, and balance transfers.
Its vast customer base, backed by the trust and reach of its parent company is a major strength. Its wide range of card offerings and robust services enhance its market position.
Shriram Finance
Shriram Finance, part of the Shriram Group, is a prominent player in the Indian NBFC sector. Established in 1979, it focuses on providing services to the underserved and unbanked.
The NBFC offers a wide array of products ranging from personal loans to FDs. You can also get a commercial vehicle loan, gold loan, and more. The company also provides insurance services and small enterprise loans. These help cater to the diverse needs of its customers.
Its strong customer relationships and extensive rural outreach are some of its strengths. The company’s risk management practices have made it a trusted name in the industry.
These finance companies play a pivotal role in the country’s financial ecosystem. Each company offers a unique set of products and services and caters to the varied needs of individual and corporate customers. Whether it’s loans, insurance, credit cards, or investment options, you can get them easily.
You can also find the financial solutions offered by all these companies on a single website. Financial marketplaces like Bajaj Markets are a great way to check and compare these. Simply visit the website, in this case, https://www.bajajfinservmarkets.in/. Explore and choose the financial products to suit individual needs. You can also access premium, EMI, and many such calculators. This will help you make wise decisions and plan your finances better.
Bajaj Finserv Limited is an Indian financial services firm that specializes in lending, capital management, financial advisory, and coverage. Business loans of up to Rs 45 lakh are available from Bajaj Finserv at low-interest rates.
Like all and every firm, ‘Marketing’ is one of the most essential activities of the firm that engages in promotional and advertising activities such as marketing and advertising for goods or services, particularly in the modern environment where innovation strategy has accelerated exponential rate and implementation of these strategies can be a make-or-break determinant for businesses.
Middle-class and low-income families are mostly the target clients of this team. They have created commercials and marketing techniques that are suited exclusively for them. Offering them high-interest rates on investments, short-term loans, insurance plans, and other financial products. By making such great deals available, the name and fame of the company start spreading not only through marketing but also through word of mouth.
A marketing strategy is a well-thought-out comprehensive business plan. This plan assists in targeting consumers and eventually converting them into potential customers of offerings or services. Let us take a closer look into the particulars of such plans or strategies. In this article, we are going to give you a good overview of the marketing strategy of Bajaj Finserv.
Bajaj Finserv is more focused on keeping current clients than gaining new ones. They believe that keeping their existing customers satisfied will make their clients recommend them to others thus helping their firm to grow and expand.
‘More clients cannot equal more items per client, but the more delighted their customers are, the more inclined they are to collaborate with them on their next big project’. They are more inclined to refer Bajaj Finserv to their relatives and friends. The more people who suggest them, the less they have to worry about acquiring new consumers. They can focus more on existing clients if they do not have to worry about acquiring new customers.
Any buyer would check the company’s ratings before acquiring something. Satisfied existing customers will help in building a good brand image in the market thus helping them in competing against rivals.
Content marketing is a sort of business that entails the production and sharing of internet content that does not directly promote products and services but is meant to arouse interest in the product or offerings.
Bajaj Finserv has been writing SEO-optimized blogs on a variety of themes to boost its brand’s visibility across all results. This will help them to be more visible to clients and build their belief in them.
From the first stage, which is the consciousness phase, in which the consumer understands the item, to the last step, which is the action stage, in which the client acquires the product, Bajaj Finserv has meticulously prepared its content marketing strategy.
Their very well-maintained attention stage for the simple purchasing of their clients is one of the unique aspects of this firm’s marketing strategy.
It is a well-known brand in its field, along with some of its rivals. It caters to a specific demographic and is one of the most effective marketing methods available. So, let us dig deeper into the rivals of this well-reputed company.
Bajaj Finserv Forms Alliances with the World’s Best Companies
Bajaj Finserv Alliances and Partnership
This company’s predilection for the best in the world stems from our fixation with achieving our Big Goal. When their consumers purchase a product or service from them, they think they are putting their trust in their firm. Trust is a sensitive subject in and of itself. It necessitates both skills and experience. Bajaj Finserv is executing zero-tolerance policies to compromise when they work with SalesForce for their internet skills, Microsoft for our software, TCS for process analysis, and CRISIL for audits.
They are not a partner who can be both hot and frigid at the same time. They are just as committed to their business associates as they are to each of you as clients. Even with their relationships, they have set new standards in terms of innovation by deploying their structures and procedures to build brave new realities.
Bajaj Finserv’s Deep Technological Investment
Bajaj Finserv uses technology to give you a better user experience, allowing you to make decisions even when you are being served. Since the result of technology is not the technology itself, but rather the inventiveness with which it is deployed.
This team has continued to expand our technological spending over time by putting our money where our mouth is. OPEX, not CAPEX, accounts for a significant chunk of technological expenditure. It provides us with the benefit of being unaffected by diminishing returns. It provides you with unrivalled flexibility in working with us for all of your financial needs.
The more satisfied you are, the more likely you are to pick us the next time you require financial assistance.
Bajaj Finserv is a pretty reputed company among both its rivals and its clients. The fact that they concentrate more on their present consumers to meet them and provide them with more facilities is a marketing advantage since every time a new consumer sees their ad and goes to obtain a review, there is a high probability that he will turn into a buying
This article will show you how Bajaj Finserv implemented its digital marketing strategy, and if you want to master comparable strategies and expertise, start learning online marketing right now.
Bajaj Finserv considered an essential factor while devising their approach for achieving the Big Goal is what are the specializations and strengths from the past, they might want to bring forward. One notion rang true across all of our alternatives, reflecting in all of their results throughout their existence – longevity. It is the imprint that their past has left behind. This is the result of the team’s parent company, the Bajaj Group, working for almost half a century. Distributed through each business invested into by the Group. This important filter must be applied to everything they do.
FAQs
Who are the target audience of Bajaj Finserv?
Bajaj Finserv’s target audience consists primarily of middle-class and low-income group of families.
What does Bajaj Finserv do?
Bajaj Finserv is an Indian financial services company. It is involved in lending, asset management, wealth management and insurance.
Who is MD of Bajaj Finserv?
Sanjiv Bajaj is the MD and Chairman of Bajaj Finserv.
Who are the top competitors of Bajaj Finserv?
Some of the Bajaj Finserv’s competitors in India are:
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.
Bajaj group is one of the oldest, largest and one of the most renowned Indian conglomerate company. Bajaj group was founded in 1926 by Jamnalal Bajaj during India’s movement towards independence.
The journey of Bajaj group started ninety years back with establishing a sugar factory in Lakhimpur Kheri, Uttar Pradesh. Now the company is amongst the top ten business houses of India.
The chairman of Bajaj Group is Rahul Bajaj and has its headquarters based in Mumbai, Maharashtra. The company comprises of 40 companies as it has its footprint in many different industries such as spanning automobile, home appliances, lightning, iron & steel, insurance, travel and finance. The Bajaj group aims to cater the diverse needs of their consumers and add value with their innovation and vision.
The Bajaj group has become so successful for more than 10 decades because of its subsidiaries like Bajaj Auto, Bajaj Finserv Ltd, Hercules Hoists Ltd, Bajaj Electricals, Mukand Ltd, Bajaj Hindusthan Ltd And Bajaj Holding & Investment Ltd, Etc.
Bajaj Auto is currently ranked as the fourth largest two and three wheeler manufacturer in the world. Bajaj is popular brand in countries of Latin America, Africa, Middle East and South East Asia.
The company has so far helped in the growth of many industries and upliftment of millions across the country. Under the guidance of Rahul Bajaj, the Bajaj Auto went from being Rs 72 million company to a Rs 120 billion company. Currently, the Bajaj Group has 90 plus years of experience with a market capitalization of Rs. 3.9 trillion as of 2018 and over 36,000 plus employees worldwide.
The Bajaj Group of companies was founded by Jamnalal Bajaj in 1926 during the freedom struggle of India. Jamnalal Bajaj was also a known freedom fighter during the Indian independence and also a close confident of Mahatma Gandhi. In 1931 Jamnalal started a sugar factory in Lakhimpur Kheri of Uttar Pradesh which later becomes a flagship company of Bajaj group (renamed as Bajaj Hindustan Ltd in 1988).
In 1954 the eldest son of Kamalnayan Bajaj took over the management of Bajaj Group, after completing his education in University of Cambridge. Kamalnayan Bajaj is responsible for expanding the business into the sectors of scooters, two and three wheeler, cement, steel and electrical appliances. The Bajaj Auto earlier known as Bachraj Trading Corp was founded in 1945.
The history of Bajaj Group
By 1948, Bajaj Auto has started its sales in the country by importing two and three wheelers. After the death of Kamalnayan Bajaj, his younger brother Ramkrishna Bajaj. Ramkrishna’s concentrated more towards social service and social welfare programmes of Bajaj Group. By 1965, Rahul Bajaj took over the business as the chairman and managing director of Bajaj Group.
At that time, were many rules and regulation in India which is why the company was restricted to only producing 20,000 units a year. This created a gap between the demand and supply, Rahul Bajaj ignored the restrictions to increase its productions, reduce its cost in order to create what we now know as a beloved Indian brand.
Under his leadership the company got into many selective international markets, and launched products that redefined entire categories in the market. In the 2000s, the company witnessed split’s as Rahul’s brother Shishir Bajaj, as they went their separate ways with Bajaj Hindustan and Bajaj Consumer Care. Bajaj group has revenue of more than Rs. 50,000 crore and is comprised of 40 companies all of them are managed independently by family members.
Bajaj Auto Limited is an Indian multinational two and three wheeler manufacturing company that has its headquarters in Pune, Maharashtra. The company is known to be the third largest manufacturer of motorcycles in the world and the second largest in India. Bajaj Auto is now a global behemoth thanks to the efforts of Rajiv Bajaj who steeped to become its Managing director in 2005.
Bajaj Auto is popular for its motorcycles, scooters, auto rickshaws and a pioneer for introducing the first ever Quadricycle, Qute in India. The automobile company has manufacturing plants in Chakan in Maharashtra, Waluj and Pantnagar in Uttarakhand. In 2020, Bajaj Auto reached a market capitalization of $13.6 billion, making it the most valuable two wheeler company in the world.
Bajaj Auto popular three wheeler
The most well-known vehicle of the Bajaj Auto is the Pulsar range of bikes which revolutionized the two wheeler market in the country as it was affordable and reliable. In 2007, Bajaj Auto went on to acquire KTM an Austrian company, which became the fastest growing motorcycle brand of the country in 2018 because of its Duke range of bikes. Bajaj Auto exports to 70 plus countries and has a significant share of revenue come from exports.
Export share for Bajaj Auto FY 2020 by region
Currently, the company offers a total of 18 bikes including 17 new bikes in India alone, out of which 3 are cruiser bikes, 10 commuter bikes, 3 sports bikes and 1 scooter. By 2021, Bajaj has got a total of 660 dealerships spread across 408 cities of India. In the year of 2018 to 2019, the company sold five million vehicles with the highest ever 1st turnover of Rs. 31,899 crores and over 2 million sales unit to over 79 countries.
Mukand Limited is a Bajaj subsidiary that manufactures stainless steel and iron products, steel castings, steel structures, alloy steel and stainless steel billets and also an exporter of hot rolled bars.
The company also manufactures Electrical Overhead Travelling (EOT), port equipment, process plant equipment for ferrous and non-ferrous industries and other cranes such as the country largest crane which has a capacity of 80 tons.
about Mukand Limited
The company was established by Seth Mukand Lal in 1929 in Lahore. It wasn’t until 1989 that it was acquired by Bajaj Group. Mukand Ltd has a steel manufacturing and rolling capacity of more than 500,000 metric tons per year.
It also produces over 400 different products that are specially engineered for clients across the world. The company is a leader of steel technology in India because of its use of advanced technology, sustainable in house research and development.
Mukand is a pioneer in the industry because it was the first in India to successfully adopt the vacuum oxygen technology for manufacturing of stainless steel and also the fourth in the world to introduce the continuous cooling system for wire rods.
In 2013 and 2018, the company formed joint ventures with Sumitomo Corporation of Japan. Mukand Sumi Special Steel Limited and Mukand Sumi Metal Processing Ltd are the two joint ventures between the two companies.
Bajaj Electricals Limited
Bajaj Electricals is an Indian consumer electrical equipment manufacturing company. This company that has its headquarters Mumbai, Maharashtra and is among the most trusted and well respected company with an experience of more than eight decades.
The company is a leader in the industry of electronic consumer products and is known for its products in lighting (lamps, tubes and bulbs), luminaries, appliances, fans and LPG based generators.
Bajaj electrical home appliances
It also has a strong presence in home appliance and cookware segments with brands like Morphy Richards and Nirlep. Bajaj Electricals also offer services in engineering and these projects usually include transmission line towers, telecommunication towers, high mast, poles, projects in wind and solar energy. This company has 19 branch offices, with more than 1000 distributors and 4000 authorized dealers across the country.
It also has its products in over 400,000 retail outlets and 282 Customer Care centers. So far its highest turnover was Rs 6,744 crore in the FY 2018 to 2019. Bajaj Electricals has set up its offices in countries of Africa, Middle East and China and is also continuously expanding its global footprint.
Bajaj Finserv Limited is an Indian financial services company that provides services like lending, asset management, wealth management and even insurance. The company has more than 20,154 employees that are working in more than 1,409 locations and focuses on consumer finance business, life insurance and general insurance.
According to the Economic Times, Bajaj Finserv is ranked 119 in the Economic times 500 list of 2014. The company is also listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). Apart from providing financial services the company also is also known for its services in the wind energy generation with a capacity of 65.2 MW.
Bajaj Finserv was earlier the financial wing of the Bajaj Auto, but the company demerged from Bajaj Auto in 2007. The company offers a wide variety of financial services for multiple needs, Investment and saving options, asset protection through general insurance, family protection and income protection provided under the life, health insurance, retirement and savings solutions.
analysis of the companies of Bajaj Group
Bajaj Hindusthan Sugar Limited
Bajaj Hindusthan Sugar Ltd is another major subsidiary of Bajaj Group. The company is known for being the number one sugar and ethanol manufacturing company which is headquartered in Mumbai, Maharashtra. It is also the largest sugar producer of the country. Bajaj Hindusthan is the country’s largest ethanol producer as it produces more than 38 million liters of ethanol per year.
The company’s main sugar manufacturing plants in Gola Gokarannath and Palia Kalan in the Terai region of Uttar Pradesh which is rich in producing sugarcane. The Chairman of Bajaj Hindusthan Ltd is Kushagra Bajaj. BHSL is one of the first companies that was established by Jamnalal Bajaj in 1931, which was renamed in 1988 to Bajaj Hindusthan Sugar Limited.
The company so far has over 14 manufacturing plants Golagokarannath, PaliaKalan, Khambarkhera, Barkhera, Kinauni, Gangnauli, Thanabhavan, Budhana, Bilai, Maqsoodapur, Pratappur, Rudauli, Kundarkhi and Utraula all in the state of Uttar Pradesh. The sugarcane crushing capacity of all these plants is 136,000 tons per day and a distillery capacity to produce 800,000 Lt of alcohol per day.
Another Bajaj Group subsidiaries which is a leader in an industry is Hercules Hoists known for the hoisting technologies. The company provides services such as Lifting, moving, storing which include Mechanical hoists, electric chain hoists, wire rope hoists, EOT/HOT cranes, light rail crane, ergonomic handling solutions, and floor operated stackers among others.
So whether it is mechanical or electrical, the company will help their clients with hoisting and premium products. Hercules Hoists became a part of Bajaj group in 1962 and was made in collaboration with Heinrich de Fries from Germany. The company has so far also helped develop other brands such as INDEF, Stier, iCRANE, iSTACKER in order to support the market for specialized products.
Hercules Hoists has its corporate offices in Belapur, Khalapur and Chakan and sales office in Pune, Delhi, Kolkata and Chennai. The company also has a vast outreach with 50 Authorized Business Partners and close to 100 Authorized Retailers in the country.
Frequently Asked Questions
What does Bajaj group do?
Bajaj Group is an Indian multinational conglomerate that provides services in sectors of Automobile, Financial services, Home appliance, Electrical appliances, Insurance, Manufactures iron and steel products, etc.
What are the subsidiaries of Bajaj group?
The subsidiaries of Bajaj group are Bajaj Auto Limited, Mukand Limited, Bajaj Electricals Limited, Bajaj Finserv Limited, Bajaj Hindusthan Sugar Limited and Hercules Hoists among others.
Who is the chairman of the bajaj group?
The chairman of the Bajaj group is Rahul Bajaj.
Where is the headquarters of Bajaj Group?
The headquarters of Bajaj Group is in Mumbai, Maharashtra.
Conclusion
Bajaj group is one of the largest, oldest and respected conglomerate in India, with a market capitalization of Rs 3.9 trillion. The company started more than 9 decades and is a leader in the sectors of Automobile, Financial services, Home appliance, Electrical appliances, Insurance, Manufacturing iron and steel products. With the success of every individual subsidiary under it the company is sure to grow bigger.
Ria Sahni
