Rahul Bajaj steps down as Bajaj Finance Chairman, son Sanjiv Bajaj takes over

Industrialist Rahul Bajaj will step down as Non-Executive Chairman of Bajaj Finance on July 31, after being at the helm of the company since its inception in 1987. The 82-year-old's son Sanjiv Bajaj, currently the Vice Chairman, will replace him. However, Rahul Bajaj will continue to serve as a non-executive non-independent director, the company announced on Tuesday.