About this episode

This episode explores the transformation of Bajaj Auto Finance into Bajaj Finance and its impact on India's consumer credit landscape.

Sell a Bajaj scooter, finance their EMIs. For years, that was the entire purpose of Bajaj Auto Finance. But consumers in India wanted much more. They outfitted their homes with new television sets, refrigerators, and washing machines. They wanted iPhones, hair transplants, fitness equipment and more. Lending for those hinted at a much larger opportunity. And the Bajaj group seized it. Bajaj Auto Finance became Bajaj Finance. A legacy auto-financing arm went on to create India’s consumer credit infrastructure, shaping how millions buy things. Today, Bajaj Finance manages a loan book of over Rs 5 lakh crore, serves more than 119 million customers, and is valued roughly Rs 6 lakh crore. It is twice as large as Bajaj Auto, the parent company it was spun out of. This is the story of how that happened. Tune in! Our team has built an interactive webpage for Bajaj Finance. It’s a research guide to this episode. Check it out here: https://the-ken.com/intermission/a-bank-in-all-but-name-bajaj-finance/ Additional material: Saurabh Mukerjea’s analysis of Bajaj Finance The Harvard Business case study on Bajaj Finance Inside Bajaj Finance’s aggressive call-to-sell-loan strategy Credits for…

More episodes of Intermission

• Intermission E04: ITC · August 16, 2026 · 2h 27m
• Intermission EO3: Airtel · June 28, 2026 · 4h 20m
• Intermission E01 - Asian Paints (PART 2) · March 22, 2026 · 3h 26m
• Intermission E01 - Asian Paints (PART 1) · March 22, 2026 · 2h 56m

Explore listener stats, chart rankings, contacts and more on the Intermission podcast page.