Bajaj Finance or BAJFINANCE
In 1987, BAFL or Bajaj Auto Finance was being incorporated, and the company is engaged in the retail financing business. Earlier, the company was being promoted by both the Bajaj Auto as well as Bajaj Auto Holdings. As Bajaj Auto is the second-largest manufacturer of both the two and three-wheelers in India. And Bajaj Auto Holdings is an investment company, and soon Bajaj Auto Finance also changed its name from Bajaj Auto Finance Ltd to BAJAJ FINANCE LTD in 2010.
According to the scheme of de-merger of preceding Bajaj Auto, the stakes that are held by Bajaj Auto in BAFL were being transferred to Bajaj Finserv. So, currently, Bajaj Auto Finance is a subsidiary of the Bajaj Finserv.
Currently, BAFL is also a non–banking financial company that is registered with the RBI or Reserve Bank of India and is also authorized to accept public deposits. The Company is also engaged in the business of providing finance for goods such as two-wheelers, personal computers, consumer durables, personal loans, insurance services, and more. In Financial Year 2007–08, the company extended its product line, along with the introduction of IPO financing for high net worth consumers.
The Company also has modern infrastructure facilities, along with state–of–art technology that includes automated cheque handling facilities, and the computerized loan accounting with the online consumer data to process requests as well as consumer transactions efficiently.
In 1994, the company (BAFL) went public and was also listed on the Bombay Stock Exchange as well as on the National Stock Exchange of India. It has its headquarters located at Pune, and the company also has a pan–India presence via 50 branches that include Mumbai, Hyderabad, New Delhi, Chennai, Nasik, Bangalore, Nagpur, Vijaywada, Vishakhapatnam, Goa, Kolkata, Madurai, and Pune. Also, the company has been serving approximately 40 lakh satisfied customers across the whole country.
Some of the Services offered:
The company offers several customer loans for the purchase of Avenger, Pulsar, Discover, Platina, KTM and Ninja motorcycles, and Bajaj RE three-wheelers.
Some of its Milestones:
- BAFL is also amongst very few NBFCs in India to receive the FAAA rating from CRISIL or Credit Rating and Information Services India that reflects the highest level of credibility and safety of the depositors' money.
- Also, the company has a short–term debt program that has been awarded a P1+ rating from the CRISIL. Also, its long–term debt program received AA+/Stable from the CRISIL and LAA+ from the ICRA.