Rajiv Bajaj will step down as a non-executive director of Bajaj Finserv after deciding not to seek re-election at the company's annual general meeting scheduled for July 31, 2026, according to a filing on the exchanges by the financial services company on Tuesday. Bajaj informed the company that increasing responsibilities at Bajaj Auto, including oversight of newly established businesses and the group's recent acquisition of KTM, have prompted him to reduce his external commitments.