‘This decade belongs to India, no room for mistakes; save every rupee you earn

 Media Coverage  |  22-03-2025

Bajaj Finserv chairman Sanjiv Bajaj: Competing with the world requires support from Central & state governments, we don’t control work hours, once targets are met, we give bonus

The Lokmat Maharashtrian of the Year Awards 2025 event is known for insightful interviews with eminent personalities. This year, the highlight was an interview with chairman and managing director of Bajaj Finserv, Sanjiv Bajaj, who is heading one of India’s leading financial services companies. Joint managing director and editorial director of the Lokmat Media Group Rishi Darda, in a tete-a-tete discussed  Bajaj’s business journey, work ethics, and industry insights.

 

Q: You recently acquired Allianz’s 26% stake in Bajaj Allianz for Rs 24,000 crore. This was the largest transaction in India’s insurance and non-banking financial sector. What was your thought process behind this? How will it reshape the insurance industry?

A: In 2001, we formed this company with Allianz, with us holding 74% stake and Allianz 26%. Over two decades, we built a strong insurance company. Just like other sectors, the insurance industry is also expanding rapidly. Both the companies wanted to scale further, but the two captains cannot run the same ship. So, we decided to part ways amicably.

 

Q: Bajaj Finserv is now a leader in the financial services industry, handling transactions worth Rs 10 lakh crore. What were the early days like?

A: We have an excellent team, but I must say that if we weren’t doing business in India, success would have been much harder. Our success is because we operate here. In 2007, I stepped out of Bajaj Auto and started the financial services business. It wasn’t just about achieving a single goal — it was about embarking on a long-term journey. Our mission is to create a globally recognised Indian financial company. It’s not just about ‘Make in India’ it’s about ‘Buy India, For India’.

 

Q: When you launched Bajaj Finserv, you were already in a well-established business. Instead of expanding further there, you chose to enter a completely new industry. What was your thought process?

A: I worked for 10 years at Bajaj Auto, and now my brother Rajiv Bajaj is running it excellently. When entrepreneurs start a new venture, they risk their capital, savings, and career. I was fortunate to have the backing of a business family. When I started Bajaj Finserv, it was much smaller than Bajaj Auto. But I had the passion and drive necessary to be an entrepreneur. I knew there would be failures along the way, but perseverance brought us here today.

 

Q: Many new non-banking financial companies (NBFCs) are entering the market. How will Bajaj Finserv compete and expand?

A: I say this humbly: We don’t compete with them; they compete with us. We aim to match global standards. Our strategy is to identify customer needs and innovate accordingly. For example, in 2008, very few people in India had credit cards. If someone wanted to buy a TV, they had to pay in cash or take a loan, which had a three-day approval process. We developed credit score technology, reducing loan approvals to three minutes and now, it’s just 30 seconds.

 

Q: There’s a global debate on how many hours people should work each week. What is your view?

A: We don’t control work hours. Employees follow the rules and processes set for their roles. We set clear performance targets, and once those are achieved, we offer the designated bonuses. After COVID-19, we emphasised returning to offices instead of working remotely. Face-to-face collaboration enhances productivity and teamwork.

 

Q: What is India’s biggest opportunity for the next decade?

A: This decade belongs to India and hence we can’t afford to make mistakes now. India has a strong combination of talent, young population and a committed, growth-focused government. The world is looking to partner with India. The Central and state governments are actively making India industry-friendly. Competing with global giants requires strong support, and fortunately, India is getting it.

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Rapid-fire questions

Q: Apart from your father, who do you look up to as a role model?

A: No one else. My father is my only role model. However, I learn something from every person I meet.

Q: What is the best financial advice you’ve ever received?

A: Save every rupee you earn.

Q: Apart from Bajaj, do you own shares in any other company?

A: Our family only invests in Bajaj Group shares.

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Our parents showed us the real face of society

Sanjiv Bajaj, the son of industrialist Rahul Bajaj said that he and his siblings studied in the same schools as the children of Bajaj employees. He further said: My mother comes from a middle class Marathi family, and my father’s family has a legacy in the freedom movement. Our parents believed that what children see during their formative years shapes their world view. They wanted us to understand society’s real challenges, so we studied in the same school as the children of Bajaj employees.

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Q: Do you get calls from Bajaj Finserv offering loans?

A: 95% of these calls come from third-party agencies. Only 2–3% of calls come from us. We have a ‘Do Not Disturb’ link on our website, where users can opt out of such calls. Given the scale of our business, complaints have significantly reduced. We receive around 400 complaints per month, and we are actively working to bring that number down further.

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Joint managing director and editorial director of the Lokmat Media Group Rishi Darda interviewing chairman and managing director of Bajaj Finserv, Sanjiv Bajaj.

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Maharashtra’s progress must for a developed India: Guv

 

Lokmat News Network

Mumbai

Everyone must come together to work for Maharashtra’s development. The dream of a developed India will not be fulfilled unless Maharashtra’s economy reaches the one-trillion-dollar mark, said Maharashtra governor C P Radhakrishnan while speaking as the chief guest of the Lokmat Maharashtrian of the Year Awards 2025 programme held at Raj Bhavan.

While mentioning that Lokmat Media Group is the first in Maharashtra to organise such a grand award ceremony in Darbar Hall of Raj Bhavan, he said that Navi Mumbai International Airport and Vadhavan Port will be the game changer for Maharashtra and will drive its economy toward the one-trillion-dollar goal, he added.

Radhakrishnan also urged Lokmat Media Group to focus not only on news related to politics but also on topics like technology, infrastructure projects in Maharashtra, employment opportunities. While newspapers have the democratic right to criticise the government for the shortcomings, the governor emphasised that media support is also essential to encourage the development initiatives undertaken by the government.

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‘Classical status

of Marathi is not fully appreciated’

 

Marathi has been recognised as a classical language, but many people in Maharashtra have not fully realised its significance, said Radhakrishnan. Sharing his experience, the governor said during his tour of 30 out of 36 districts in Maharashtra, only one woman came forward to thank the Central government for granting classical language status to Marathi. Commenting on the award given to Swami Brahmavihari Das of Swaminarayan Sanstha, Radhakrishnan said that there was a lot of discussion about the saffron colour in Tamil Nadu. “The saffron colour is not the colour of any particular party or ideology, but the colour of sacrifice. He also said that Raj Bhavan should not be limited to the Governor alone but become the voice of the people.

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‘Lokmat is progress report of public representatives’

 

Lokmat News Network

Mumbai

Maharashtra’s deputy chief minister Eknath Shinde praised Lokmat newspaper, calling it the “progress report of people’s representatives”. Speaking at the ‘Lokmat Maharashtrian of the Year’ awards, Shinde acknowledged that while Lokmat appreciates good work, it also holds leaders accountable through its critical insights.

He lauded Lokmat for recognising and celebrating the efforts of individuals and organisations that make significant contributions to society but often remain away from the limelight.

Shinde stated, “Thanks to Lokmat’s awards, society has witnessed the achievements of many great individuals and helped bring them into the mainstream.”

Besides, he acknowledged the Darda brothers for their contribution to Maharashtra’s industrial sector.

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Shinde showcases his poetic side

Though union minister Ramdas Athawale is known for his instant poetry, it was Eknath Shinde who surprised the audience with his own poetic quips this time. In a light-hearted moment, Shinde directed his verses at Sharad Pawar faction leader Jayant Patil:

“Jayant Rao ek number, don number jhale… pan tase kahi badalle nahi.”

Vichar kara Jayant Rao, MahaYuti cha bajula aahe Lokmat. “DCM jhalyachi mala nahi khant… pan achanak ka shant zale Jayant? Vidhansabha jinkli, prachand bahumat ale hatashi… kasht tar hotach, Lokmat hote pathishi!”

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Transformation is reward, says Swami Brahmavihari

 

Lokmat News Network

Mumbai

“The true reward or prize in life is not on what you receive but about what you become,” said senior monk of  BAPS Swaminarayan Sanstha Swami Brahmavihari Das,  emphasising that the real award for those who do good work is the positive transformation they experience within themselves. It’s something that no one can take away or steal.

Swami Brahmavihari Das received the Lokmat Maharashtrian of The Year Award on behalf of Swaminarayan Sanstha at the hands of Maharashtra Governor C P Radhakrishnan.

Swami Brahmavihari Das, expressing his gratitude after receiving the award, said, “I am standing here today because of all of you and my spiritual mentors. I accept this honour as a token of your love.”

Swami Brahmavihari illustrated his point with an analogy: “Even if you are the best person on this Earth, if I ask you to jump, you may leap two or three feet. An Olympic champion may jump seven feet, and a pole vaulter may manage 19 feet. But when humanity collectively decided to jump, we reached the Moon.”

Informing about the historic temple in Abu Dhabi, which was once deemed impossible, he said,  “Thousands of people told me that a temple could never be built there. But my spiritual guru whispered into my ears one day: ‘A temple will rise in Abu Dhabi’ and his words held more power than a thousand rejections.”

Sharing his experience when he first entered the royal palace in Abu Dhabi in 2013, Swami Brahmavihari Das  said, “No Islamic ruler had ever seen a saffron-clad monk before. I was surrounded by 50 Sheikhs, and one of them asked me, why we wear saffron robes?”

He had explained, “As Hindus, we are not buried after death; we are cremated. The flames that consume our bodies burn in hues of saffron, yellow, and red. Our attire symbolises that fire and renunciation.”

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Recipients of Lokmat awards

have become CMs: Dr Darda

 

Lokmat News Network

Mumbai

Shiv Sena president Eknath Shinde was first presented  the Lokmat Maharashtrian of The Year Award and later on he became the chief minister. Similarly, Shiv Sena (UBT) president Uddhav Thackeray had received the Lokmat award before assuming the chief minister’s post.

Chairman of editorial board of Lokmat Media and former member of Rajya Sabha Dr Vijay Darda, jokingly said, “The exception to this trend is the present chief minister Devendra Fadnavis. If Devendra Fadnavis had received the Lokmat award earlier, he would have become the chief minister even before 2014.”

Sitting on the same dais as Dr Darda during this year’s Lokmat awards programme, Fadnavis responded humorously, “For the next five years, don’t give this award to anyone except me, or only to those I suggest.” In quick reaction, the entire audience present at the Lokmat award programme burst into laughter.

To honour the chief minister, governor C P Radhakrishnan presented the ‘Most Powerful Politician’ award to Devendra Fadnavis  at this year’s glittering  Lokmat Maharashtrian of the Year Awards programme at Raj Bhavan.

In his speech, Dr Vijay Darda explained the history and journey of the Lokmat awards. He highlighted how Lokmat recognises outstanding achievers across various fields in Maharashtra. Every year, the awards generate immense anticipation among the citizens.

Lokmat Media Group’s team of 5,000 representatives searches across Maharashtra for outstanding individuals. Dr Darda cited the example of Ranjitsinh Disale, a teacher from a small village in Solapur, whom Lokmat first identified and showcased, leading him to win the Global Teacher Prize. Another example is sarpanch Popatrao Pawar, who pioneered innovative farming techniques in a small village. Lokmat highlighted his great work, and he later received the Padma Shri. Many athletes who received Lokmat’s recognition later on won the Arjuna Award.

Dr Darda also mentioned the notable recipients of Lokmat awards which included industrialists  Mukesh Ambani, the Tata family, Piyush Bansal (Lenskart), and Kumar Mangalam Birla. This year’s awardees include top businessman Sanjiv Bajaj and Mumbai’s Special Police Commissioner, Deven Bharti for their outstanding services. IAS officer Bhushan Gagrani was also conferred upon the award for his contributions to administrative service.

 

A special tribute to late actress Sridevi

Late actress Sridevi, who has acted in over 350 films, was also felicitated at the Lokmat programme. With both the governor and chief minister present, Dr Vijay Darda expressed his wish that Sridevi be given such an award in recognition for her work which is even higher than the Padma Shri. Dr Darda concluded by introducing the jury members for this year’s awards.

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Kept my word given

to Fadnavis: Mohile

 

Lokmat News Network

Mumbai

The national head of corporate affairs at Pernod Ricard India, Prasanna Mohile spoke about the company’s Rs 2,000 crore investment in Nagpur during the event. Mohile said he kept the word given to his old friend, Maharashtra CM Devendra Fadnavis, by making this investment. He revealed that this project will require 6,000 tons of barley and 40,000 acres of farmland. This initiative will benefit over 90,000 farmers in Vidarbha, boosting their income and strengthening the region’s agriculture-based economy. News18 Lokmat anchor Dnyanada Kadam took a small interview of Mohile in Lokmat Maharashtrian of the Year Awards 2025 event.

<pstyle=”font-weight: 400;”>Mohite said, “The company started operations in Dindori, Nashik after India embraced economic liberalisation. It now operates 30 factories nationwide and contributes Rs 40,000 crore to India’s GDP. Maharashtra has received Rs 4 lakh crore in revenue from Pernod Ricard. For maize cultivation, the company requires 50,000 metric tons of maize annually, cultivated over 1 lakh acres. It generates 9 lakh jobs, with 6 lakh in the agricultural sector. The investment in Vidarbha’s agriculture and industry is expected to significantly boost employment, rural income, and economic growth in the region.

Mohile shares a 40-year-old friendship with Maharashtra CM Devendra Fadnavis. At the event, he recalled an incident from Fadnavis’ early political career.

“When Fadnavis first became an MLA, he once visited me, and we travelled together in my car to Gadchiroli. He was determined to raise a question in the Assembly about the state of healthcare centres there. His deep concern for the underprivileged left a lasting impression on me.”

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