Anup Saha has stepped down as Managing Director (MD) of Bajaj Finance, citing “personal reasons”, barely four months after taking charge on April 1, 2025. On July 21, 2025, the board reinstated Rajeev Jain—who had successfully led Bajaj Finance for over 15 years—to ensure leadership continuity.
In a regulatory filing on Monday, Bajaj Finance confirmed Anup Kumar Saha’s resignation. The company stated that the decision was followed by steps to ensure continuity in leadership and operations.
Following Saha’s exit, the board has vested Rajeev Jain with full management powers. Jain, who has been with Bajaj Finance since 2007, first as CEO and later as managing director from 2015, has played a pivotal role in driving the company’s transformation. With this move, he now takes full charge as vice-chairman and MD, and will continue to lead the company until 31 March 2028.
Anup Saha, who joined Bajaj Finance in 2017, was reportedly among the top contenders for the Chief Executive Officer (CEO) role at IndusInd Bank, as per multiple reports. The private lender has been in search of a new chief after its previous CEO stepped down, following a controversy over how the bank accounted for its derivative transactions.
Saha is an engineering graduate from the Indian Institute of Technology (IIT) Kharagpur and holds an MBA from the Indian Institute of Management (IIM) Lucknow—credentials that add weight to his candidacy.
If chosen to lead IndusInd Bank, this wouldn’t be Saha’s first stint at a commercial bank. He previously spent 14 years at ICICI Bank, heading key segments like credit cards, mortgages, auto loans and structured finance.
"I take this opportunity to thank the Board, the management team, and all stakeholders of the company for their support and trust during my tenure. I remain committed to ensuring a smooth and seamless transition, and I am available to support the company during this period, as may be required," Saha said in his resignation letter.
