Sanjiv Bajaj Shares Business Wisdom At Prestigious Maharashtrian Awards

The prestigious Lokmat Maharashtrian of the Year Awards 2025 featured a compelling conversation between Sanjiv Bajaj, Chairman and Managing Director of Bajaj Finserv, and Rishi Darda, Joint Managing Director and Editorial Director of Lokmat Media. The event, held at Raj Bhavan with Maharashtra Chief Minister Devendra Fadnavis as the special guest, marked the 11th edition of these celebrated awards.

Modern Approach to Workplace Culture

During the conversation, Bajaj revealed his progressive stance on workplace management at Bajaj Finserv. "We don't control the working hours of our employees," he stated, emphasizing that results take precedence over rigid schedules. The company rewards employees who meet their targets with performance-based bonuses and incentives, reflecting a modern approach to workplace culture that values productivity over presenteeism.

Strategic Business Moves

Bajaj also discussed the company's significant business decision to acquire a 26% stake in Bajaj Allianz Life and Bajaj Allianz General Insurance from Allianz. Having begun their partnership with Allianz in 2001, Bajaj explained the rationale behind this strategic shift: "Two captains can't steer the same ship." When Darda inquired about rumors regarding Allianz potentially partnering with Jio, Bajaj clarified that while Allianz would continue operating in India, this acquisition represented an important new chapter for Bajaj Finserv.

Vision for India's Economic Future

The conversation highlighted Bajaj's commitment to India's economic development. He expressed his belief in both "Make in India" and "Make by India for India," underscoring Bajaj Finserv's dedication to contributing to India's economic growth and global recognition. Bajaj reflected on his company's journey from humble beginnings to substantial growth, pointing to the vast opportunities available in India's financial services sector.

Advice for Aspiring Entrepreneurs

In a particularly insightful segment, Darda steered the discussion toward India's flourishing startup ecosystem. Bajaj offered valuable wisdom for aspiring entrepreneurs, emphasizing the importance of unique ideas, passion, strong teams, and reliable funding sources.

"No business can succeed without a great team," Bajaj remarked, highlighting collaboration as a crucial factor in entrepreneurial success. He acknowledged the challenges of building a business, noting that success often requires personal sacrifice and the willingness to invest one's own resources and those of close connections.

Despite coming from an established business family, Bajaj shared a personal reflection: "I consider myself fortunate to have inherited a legacy from my entrepreneurial family. However, it still takes courage to build something on your own."

Throughout the engaging dialogue, Darda's thoughtful questioning allowed the audience to gain valuable insights into Bajaj's business philosophy and the broader trends shaping work culture, entrepreneurship, and India's economic landscape.