Rajiv Bajaj will exit the Bajaj Finance board after the company's annual general meeting on July 30, 2026. He will not seek re-election, ending his tenure as a non-executive director at one of India's largest consumer lending companies. Bajaj has had a long association with the Bajaj Finance board, though the company has not disclosed the exact duration of his tenure or his reasons for stepping down. The board acknowledged his contributions without elaborating on succession plans. As a non-executive director, Bajaj did not hold an operational role, so day-to-day management is unlikely to be disrupted. However, board composition at major financial institutions matters to investors, regulators, and governance watchers, particularly at a company of Bajaj Finance's scale and market standing. The transition becomes effective after the July 2026 AGM. Investors will watch whether Bajaj Finance nominates a replacement and how the new board composition shapes its governance profile ahead of any strategic decisions.
HDFC Bank's board has approved Rajiv Kumar, former Chief Election Commissioner and financial services secretary, as its Part-time Non-Executive Chairman from June 30, 2026. His chairmanship still requires RBI approval, but the move ends the bank's prolonged search for a permanent board leader.
Indian startups raised $1.1 billion across 16 deals in the week of June 21-26, 2026, up 2.5 times from the prior week, with CRED's $900 million Series H led by Meta accounting for most of the total. Square Yards became India's 131st unicorn after closing a $95 million round.
Jet fuel costs dropped sharply after a US-Iran interim peace deal, but airlines are expected to use the savings to rebuild margins rather than cut fares. Tight capacity, aircraft delivery delays, and weak budget carriers give major carriers unusual pricing power heading into the second half of 2026.
Meta is investing $900 million in CRED at a $4.5 billion valuation, the largest Indian startup round of 2026, as founder Kunal Shah moves to a global leadership role at WhatsApp. Miten Sampat takes over as interim CEO, and a major employee stock buyback is expected within weeks.
