2008, when Rahul Bajaj decided to go the whole hog in nonbanking financial services (NBFCs), he roped in the former CEO of Citibank India, Nanoo Pamnani, also his relative, and his younger son Sanjiv Bajaj. The first job of Pamnani and Sanjiv Bajaj was to find a spirited chief executive officer (CEO) for Bajaj Finance (BFL). They rounded in on a quintessential banker after meeting 30-odd executives – Rajeev Jain, who fits into every aspect of BFL’s business and, after a decade or so of explosive growth, is transforming the nonbanking financial Service (NBFC) business into data and artificial intelligence (AI)-driven lender.
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