Independent Director D J Balaji Rao Of Bajaj Group Passes Away

Renowned Independent Director, D J Balaji Rao, associated with the Bajaj Group for over 25 years, passed away on November 28, 2023. A stalwart on the boards of various group companies, including Bajaj Finserv, Bajaj Holdings and Investment, Bajaj Auto, and Bajaj Finance, he played a pivotal role in shaping the group’s strategic direction.

Balaji Rao, an alumnus of the European Institute of Business Administration (INSEAD), held an advanced management program in France in 1990. With a background as an Industrial Engineer, he joined ICICI Ltd. in 1970, climbing the ranks to Deputy Managing Director. Post the ICICI-SCICI merger, he became the first Managing Director of Infrastructure Development Finance Co. Ltd. (IDFC) until his retirement in January 2000. A respected figure, he served as Non-Executive Chairman of 3M India Ltd. from 2008 to 2014. Balaji Rao’s profound impact extended beyond business, contributing significantly to India’s corporate landscape.