Bajaj Finserv, Maharashtra Govt. sign Rs 5000 Cr MoU

On Saturday, Bajaj Finserv Ltd signed a Memorandum of Understanding (MoU) with the Government of Maharashtra, to develop Rs 5000 crore projects in Pune, one of the largest financial services investments in the country. The MoU was signed by Harshdeep Kamble, Industry Secretary, Government of Maharashtra and S Sreenivasan, Chief Financial Officer, Bajaj Finserv, in the presence of Devendra Fadnavis, Deputy Chief Minister of Maharashtra and Sanjiv Bajaj, Chairman and Managing Director, Bajaj Finserv. 

The Bajaj Finserv Campus is being planned in Pune, and it is intended to provide employment to 40,000 people while also further developing Pune as a financial centre. Work on the project will begin in 2023, with the goal of providing cutting-edge connectivity and commercial facilities. The project will have a good social and economic impact since it will create new employment and business possibilities for partners, vendors, suppliers, and contractors in and around Pune, as well as abroad. 

Bajaj Finserv is an Indian financial services company that offers a wide range of products and services, including loans, cards, investments, and insurance. The company was founded in 1987 as Bajaj Auto Finance, and it has since grown to become one of the largest NBFCs in India. Bajaj Finserv has a strong presence in both urban and rural areas, and it serves over 100 million customers. 

It serves millions of customers by providing solutions for asset acquisition through financing, asset protection through general insurance, family and income protection in the form of life and health insurance and retirement and savings solutions. The insurance businesses are unlisted. In addition, there are wind farm assets in Maharashtra. 

At present, the share of Bajaj Finserv Ltd is trading at Rs 1,459.50 up by 5.65 points or 0.39% from its previous closing of Rs 1,456.55 on the BSE. The scrip opened at Rs 1,472.95 and has touched a high and low of Rs 1,472.95 and Rs 1,456.55 respectively.  The stock has a 52-week high and low of Rs 1,846 and Rs 1,077.70 respectively on BSE.