Английская Википедия:Bajaj Finance

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Bajaj Finance Limited (BFL) is an Indian non-banking financial company headquartered in Pune. It is one of the leading non-banking financial companies (NBFCs) of India with a customer base of 73 million and holds assets under management worth Шаблон:INRConvert.

As per the 2023 list of NBFCs issued by the Reserve Bank of India, Bajaj Finance Limited holds the second position in the upper layer based on scale-based regulation guidelines.

History

Originally incorporated as Bajaj Auto Finance Limited on March 25, 1987, as a non-banking financial company, primarily focused on providing two and three-wheeler finance. After 11 years in the auto finance market, Bajaj Auto Finance Ltd launched its initial public issue of equity share and was listed on the Bombay Stock Exchange and National Stock Exchange of India. At the turn of the 20th century, the company ventured into the consumer durables finance sector and started offering small-size loans at zero interest rates. In the subsequent years, Bajaj Auto Finance diversified into business and property loans as well.

In the year 2006, the company's assets under management hit the Шаблон:INRConvert crore mark and are currently at Шаблон:INRConvert. 2010 saw the company's registered name change from Bajaj Auto Finance Limited to Bajaj Finance Limited.Шаблон:Citation needed

By 2015, BFL was known to be the first in the industry to set up a series of Disaster Recovery (DR) data centers that ensure business continuity for customer acquisition, loan processing, and servicing. Additionally, by 2020, it started using data analytics and various big data tools to maintain its competitive position.

As of June 2022, Bajaj Finance has been working with RBL Bank and DBS Bank to issue co-branded credit cards. But, after the Reserve Bank of India opened the door for non-banking financial companies to enter the credit card industry, the company plans to introduce its credit card products by the beginning of the first quarter of 2023.

In January 2023, the company released its long-term strategy (LRS) to guide growth through different online and offline products. Under that strategy, Bajaj Finance launched its loan against property (LAP) business for micro, small, and medium-sized enterprise (MSME) customers, and has plans to launch new auto loans in the second quarter of 2024, microfinance in the fourth quarter of the same year, and tractor financing in the first quarter of 2025.

As of March 2023, the company deals in consumer lending, SME (small and medium-sized enterprises) lending, commercial lending, rural lending, deposits, and wealth management. And, has 294 consumer branches and 497 rural locations with over 33,000+ distribution points and 1,50,000+ stores.

Financials

In the year 2021, an analysis using Spearman's rank correlation coefficient was conducted to examine the relationship between revenue factors and non-performing assets (NPA) parameters in Indian non-banking financial companies. Specifically, when studying Bajaj Finance, it was observed that there existed a statistically significant positive correlation between revenue and gross NPA (P<0.04), profit after tax (PAT) and gross NPA (P<0.04), as well as return on assets (ROA) and gross NPA (P<0.005), with a negative correlation found in the latter case. Additionally, a similar study from Indian Institute of Management Bangalore noted the company's efforts in expanding its geographical reach, focus on product innovation, and emphasis on cross-selling as key contributors to its NPA performance.

In a study conducted in 2023, examining 30 companies listed on the Bombay Stock Exchange, which was subsequently published in the European Economic Letters journal, it was found that Bajaj Finance stock reached a maximum average return of 58.58%. This indicates a significant level of variability among the stocks over the past decade. The maximum average return surpasses the mean return of 13.70% by over four times, highlighting the substantial influence of Bajaj Finance's average return on the overall mean return.

For FY23, the company reported a 62% increase in profit after tax to Шаблон:INRConvert, driven by a 30% increase in net interest income to Шаблон:INRConvert.

Funding and investments

The parent company, Bajaj Finserv Limited, holds 52.49% of the total shares and has a controlling stake in the subsidiary. Other major investors include Maharashtra Scooters Limited, the Monetary Authority of Singapore-Government of Singapore, Nomura Securities, BNP Paribas, Smallcap World Fund INC, and AXIS Long Term Equity Fund.

According to an exchange filing in June 2023, the company's assets under management reached approximately Шаблон:INRConvert, reflecting a 32% increase from Шаблон:INRConvert recorded earlier on June 30, 2022

Investments

In 2017-18, Bajaj Finance acquired a 12.6 percent interest in the mobile wallet company MobiKwik. Bajaj Finance and Sequoia Capital India had planned to sell MobiKwik shares worth around Шаблон:INRConvert and Шаблон:INRConvert, respectively, through an Initial Public Offering in 2021, which has been postponed due to the poor economic conditions.

In November 2022, Bajaj Finance announced its intention to acquire Mumbai-based SnapWork Technologies for Шаблон:INRConvert through a combination of primary and secondary transactions. The acquisition was anticipated to be completed before 31 December 2022.

Regulatory

In September 2022, the Reserve Bank of India (RBI) has included Bajaj Finance as one of the 16 NBFCs that are part of the NBFC-Upper Layer list. This means that the RBI has requested that the company must develop and implement a board-approved policy for the adoption of the more stringent regulatory framework that is applicable to it.

Compliance issues

In November 2023, RBI banned the company from approving or distributing loans through two of its lending services, namely 'eCOM' and 'Insta EMI Card'. The ban was prompted by both the absence of crucial key fact statements (KFS) for borrowers using these particular lending products and deficiencies found in the KFS for other digital loans provided by the company. Right after the ban, the RBI made the consumer loans of NBFCs carry more risk, increasing it from 100 percent to 125 percent. This change would directly affect the main capital of NBFCs, especially Bajaj Finance, because 45 percent of their loans are unsecured retail ones. The effect of ban on Bajaj Finance's financial health is tempered by its diverse portfolio. The company's risk management approach has protected it from over-reliance on any specific product or sector, reducing the potential impact of the RBI's intervention.

Philanthropy

The company is involved in various areas such as education, empowering women, providing skill-building training, healthcare, and other projects focused on socio-economic development.

Publications

Journals

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Case studies

• Шаблон:Cite book
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• Шаблон:Cite journal