The Lokmat Maharashtrian of the Year 2025 Awards witnessed an insightful conversation between Sanjiv Bajaj, Chairman & MD of Bajaj Finserv, and Rishi Darda, Joint MD & Editorial Director of Lokmat Media. In this exclusive session, they discussed India’s evolving work culture, business strategies, and the booming startup ecosystem.
Bajaj shared his thoughts on employee productivity, Bajaj Finserv’s strategic expansion, and the importance of building a strong entrepreneurial foundation. He also addressed the recent Bajaj Allianz stake acquisition and debunked rumors regarding Allianz’s future in India.
With Maharashtra CM Devendra Fadnavis in attendance, the event was a grand celebration of Maharashtra’s most influential personalities. Watch the full discussion to gain valuable insights from two of India’s leading business minds.
#LokmatMaharashtrianOfTheYear #SanjivBajaj #RishiDarda #BajajFinserv #StartupIndia #BusinessLeadership #Entrepreneurship #IndianEconomy #WorkCulture #Leadership
~PR.274~ED.103~GR.125~HT.410~
Bajaj shared his thoughts on employee productivity, Bajaj Finserv’s strategic expansion, and the importance of building a strong entrepreneurial foundation. He also addressed the recent Bajaj Allianz stake acquisition and debunked rumors regarding Allianz’s future in India.
With Maharashtra CM Devendra Fadnavis in attendance, the event was a grand celebration of Maharashtra’s most influential personalities. Watch the full discussion to gain valuable insights from two of India’s leading business minds.
#LokmatMaharashtrianOfTheYear #SanjivBajaj #RishiDarda #BajajFinserv #StartupIndia #BusinessLeadership #Entrepreneurship #IndianEconomy #WorkCulture #Leadership
~PR.274~ED.103~GR.125~HT.410~
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NewsTranscript
00:00Over a period of time, I'm going to be speaking with Sanjeev and what an amazing thing he's created.
00:07But whenever you start an interview, you know, you kind of have few warm-up questions,
00:12where you talk about the family, then you talk about the hardships that one's gone through,
00:17how did he build his company, etc, etc.
00:22But day before yesterday, Sanjeev decided to make headlines.
00:26On the front page of every newspaper, it came that Sanjeev decided to buy the Alliance,
00:37complete Alliance for 24,000 crore, the general and the life insurance.
00:43So Sanjeev, I cannot go to the warm-up questions, but I have to get to a point.
00:48What was the strategy behind buying and acquiring,
00:53this was by far the largest cheque that anyone's written in the history of insurance sector
00:59and one of the largest in NBFC, a 24,000 crore cheque.
01:03How is this going to change the landscape of the insurance industry?
01:07Thanks Rishi and thank you for having me here and your family as well.
01:11We're all family friends and to my own family,
01:16clearly they don't have much to do, they're all over here. Thank you.
01:20But coming to your question, as you can see, not only me but all of them, all our pockets are empty.
01:25And that's because of this acquisition that we have announced.
01:29Some of you may have heard of Bajaj Alliance for its life insurance and general insurance.
01:35This was a company started in 2001 with our insurance partners, Alliance.
01:41They own 26%, we own 74%.
01:45Over the years, over two decades and a little bit more,
01:48we have built what we think are two of the finest insurance companies in the country.
01:54India is an important opportunity in almost every industry
01:59and that's true for financial services, that's true for insurance.
02:03And both partners had the ambition to run their business going into the future.
02:08And you know, you can't have two captains running one ship, you know what will happen to that ship.
02:12So we very amicably decided, they were 26, we were already 74,
02:16that we would buy them out and then each one gets to plot our own destiny.
02:21So I'm sure in time you'll hear from them as well, but that's where we are.
02:27So there are already rumours about Alliance partnering with Jio.
02:31And you know, there was news just this morning also that they might come together.
02:37Was there a no compete or if they join hands with Jio or any other company,
02:42do you feel that would be a force to reckon with in the insurance industry?
02:46Firstly, I don't believe everything I read in the newspapers, you know, except yours.
02:54I said except yours.
02:57The second is that the insurance space is very large.
03:00There are already 50 insurance companies.
03:03And Alliance, even today, is a partner.
03:06We've announced the exit, it has to go through regulatory approvals
03:09and various processes which we hope will happen in the coming months.
03:13They are a mature, long-term, conservative player.
03:17And we would welcome mature, conservative players into a sector as sensitive and long-term as this.
03:25And whether their partnership is with Jio or with somebody else,
03:28I think we'll know in some period of time.
03:32Of course, our current agreement has a non-compete
03:35and there are triggers when that non-compete will go
03:38based on regulatory approvals, transfer of shares,
03:41cancellation of the existing joint venture agreement.
03:44But all this, as I said, has been decided together.
03:48So let me get back to what otherwise was supposed to be my first question.
03:53So you've now built a business which is approximately worth 10 lakh plus crore,
03:58you know, give and take.
04:00One of the largest NBFCs of the country.
04:03But I'm pretty sure when you started, that would have not been the case.
04:07It was a small, I want to say SBU or a division,
04:12which was part of the family holding.
04:15You decided to kind of look at that and then grow.
04:18How were the initial days?
04:20You know, how was the hustle?
04:21How did you go about building it, if you could share that with all of us?
04:24See, it's embarrassing to talk about when you talk about numbers like that.
04:28And I must very clearly say, unless somebody's smiling from up there,
04:32this doesn't happen.
04:33We got very lucky, let's put it this way.
04:35We also have a great team.
04:36And I don't think if we were not in India,
04:39it would have been easy for us to build something like this.
04:43So that's the India opportunity that's available to you.
04:45But I must say, yes, 2007 is when I moved from Bajaj Auto with a team,
04:50built a team out to build financial services,
04:52whether Bajaj Finance, Lending Arm or Insurance.
04:55We are now in asset management and other places.
04:57Our market cap then was about 2,000 crores.
05:01So if you had put in a crore at that time, you would have been up 400 times.
05:06Even I didn't know, I didn't put in my own money there,
05:09other than what we already held.
05:12But yes, it was very small, but we saw the promise that India delivered.
05:17And like in 2007, even today, of course, we all feel happy when we get awards.
05:24We recognize that, we celebrate that evening.
05:27But then we put it and lock it in the cupboard,
05:30go back to work the next day as though it's day one.
05:33Because it's the journey that is exciting.
05:35There is no destination.
05:37Our desire is to build world-class companies from India.
05:41And that's why part of the reason why we bought out our partner
05:44is because we very much believe not only in make in India,
05:48but make by India for India.
05:51That's a lovely line actually.
05:53It's all the journey, it's never the destination.
05:57So, Sanjeev, whenever this was done,
06:00whenever you decided to take over Bajaj, FinServ,
06:04the financial division, the NBFC,
06:07was that a difficult decision?
06:09Was there ever a thought in your mind that,
06:12why are you not looking at,
06:16but it would have been better to look at a business
06:19that is already very well settled versus starting something
06:22nearly from the scratch and building it.
06:25What went through your mind at that point?
06:27Did you ever have this conversation with your dad about this?
06:31Yes, very much so and many times.
06:33Because I worked over 10 years in Bajaj Auto.
06:35My older brother Rajiv runs that company
06:38and has built a fabulous company.
06:41See, I was in a fortunate position
06:44where unlike every startup entrepreneur,
06:47they're putting their careers,
06:49they're putting their life savings or their family savings
06:52or friend savings at stake.
06:54I had the security of being part of a large family.
06:57But the excitement to go and build a business,
07:00it wasn't from scratch,
07:02but these were small companies, as you said.
07:04The excitement of building that,
07:06having that entrepreneurial zeal,
07:08the flexibility to put a small team together,
07:10and I must say, because we were such a small company
07:13compared to Bajaj Auto,
07:15luckily we were not in the limelight.
07:17I knew we could fail, we could fail multiple times
07:20and we could take our time to build the business.
07:23And it was, as I mentioned earlier,
07:26the journey that was exciting.
07:28And yes, at that time, as I talk to my senior team members today
07:32who were there even in those years or to my family,
07:35we had no idea we would get to this kind of size.
07:37That's why I said,
07:38somebody up there has really been looking after us.
07:41You're being humble.
07:42Of course, there's a lot of work,
07:44there's a lot of hard work that's gone behind
07:46building a company like that.
07:48Hard work of a lot of people, you and the team.
07:51So not sure how many of you are aware,
07:53but Sanjeev went to the same school
07:56where the staff kids also went to the same school.
08:02He then did his engineering in Pune.
08:06That's very different from,
08:08even at that point, there were a lot of your peers
08:10who were otherwise going abroad for undergrad.
08:12Quite a few of them even went for schooling abroad.
08:16How has that helped you in the future
08:20while you were building the business
08:22and even in your personal life?
08:24So you know, my mother was Maharashtrian
08:27and she came from a middle class
08:29but a very educated Maharashtrian family.
08:32My father, of course, came from the background
08:34of being a freedom fighter.
08:36They were very clear that as we grow up,
08:38we must grow up in the real India as far as possible.
08:41And that's why we stayed on the factory campus.
08:44Our senior employees all lived in Pune city.
08:46Their kids went to the big schools there.
08:48We went to a local, good quality school,
08:50but a local school.
08:52My children went to that same school,
08:54a sister school right over there.
08:56Because I believe those foundation years,
08:58I believe those foundation years are very important.
09:03If you get those right values,
09:05you know, till you're 17, 18,
09:07hopefully those stay with you forever.
09:09And those values, as we all know,
09:11doesn't come by what we tell them.
09:13It's by what they see,
09:15what they see around them,
09:17what they see with us.
09:19So my kids went to birthday parties
09:21where the other kid, the birthday kid's parent
09:24was a security guard or a driver
09:26or a junior employee.
09:28And you got a packet of budhani wafers,
09:30that little white packet.
09:32If you come to Pune, you'll see that.
09:34One little piece of cake and one samosa.
09:36And by and large, that's what they got.
09:38One more item, when they came to our house
09:40for my kids' birthdays.
09:42And this is not trying to be artificial.
09:44It is trying to fit in
09:46to the society that you're with.
09:48You know, see, it doesn't take much
09:50to get into a suit and sit over here.
09:52But it's very difficult to go to that
09:54if you've not grown up there.
09:58That's a beautiful thought.
10:00So for all the people
10:03who are building their businesses,
10:05you know, there are quite a few who've,
10:07you know, we've got our startup awards also.
10:09There are guys who are also going to be
10:12awarded in the promising business category.
10:16What's the message for all of them
10:18when they're building up their business?
10:20You know, means they're going to go through
10:22a lot of ups and downs.
10:24It's not going to be very easy.
10:26Every entrepreneur knows that.
10:28How do you go about building
10:30a real successful business?
10:32You know, a few key principles.
10:35Again, I'm not an expert in this area.
10:37But some of the things
10:39that stayed with us.
10:41One, make sure your idea
10:43is as unique as possible.
10:45The more commoditized you are,
10:47the more difficult it is to build a business.
10:49Second, be passionate about what you're doing.
10:51At least if you have that flexibility
10:53where you can chase your passion,
10:55then you're in a better spot
10:57because it's going to be hard work.
10:59It's going to take a long period of time.
11:01So you need to persevere
11:03and if you're not passionate,
11:05it's very difficult.
11:07Everybody goes through down times.
11:09We had enough of our failures as well.
11:11But you need to be passionate.
11:13Third, success is never because of one person.
11:17You need to have a team.
11:19It doesn't mean that you don't
11:21take your own responsibility.
11:23So you have to be responsible yourself
11:25but you have to work with a team.
11:27So build a good quality team.
11:29And lastly, particularly to the startups,
11:32find a good VC or P
11:34who can give you a lot of money
11:35then that gives you some breathing space at least.
11:37And we've actually got quite a few
11:39P investors over here.
11:41So hopefully they all are looking.
11:43You know, even for
11:45the NBFC sector,
11:47seeing a lot of startups,
11:49there's a lot of disruption happening over there.
11:51Y'all are running a very large company
11:53and those come up with their own challenges.
11:55Whether it's technology,
11:58whether it's just the nimbleness,
12:00how are you making sure that
12:02all the new companies that are being built
12:04in the NBFC sector,
12:06that you're able to compete with them
12:08and still continue to grow?
12:10Firstly, again, without being immodest,
12:12I think they're competing with us.
12:14Because as much as we would like to be the challenger,
12:17we have now got to a particular size.
12:20There are certain things that we do
12:22which we think are fundamentally different.
12:24One, we've always looked at
12:26what's a North Star
12:28that we should follow.
12:29And over the last 10 years,
12:31we benchmark
12:33a top global company
12:35every couple of years.
12:37From benchmarking Amazon
12:39and the ease of finding something that you want.
12:42Benchmarking Starbucks globally
12:44for their reward system.
12:46Benchmarking Netflix.
12:48Once you watch a few TV shows or movies,
12:50they know what you want next.
12:52So how do we see that once a customer
12:54has taken a loan or an insurance policy from us,
12:56we can find out what they want next.
12:58So benchmarking global companies
13:00not just from our own sector.
13:02Our first benchmark in 2010
13:04was HDFC Bank.
13:06And thereafter.
13:07So you create a North Star
13:09with global excellence.
13:11Build the capabilities to do that.
13:13Because nobody else is trying to do that for your sector.
13:15You're looking at it globally
13:17and for some other sector.
13:19And focus on what is relevant for our business.
13:22We've always felt
13:24that in financial services,
13:27it's a very commoditized business.
13:29When I used to be in the motorcycle business
13:31a long time back,
13:33you could build a motorcycle where
13:35if you started,
13:37the roar of the engine was sexy enough
13:39for somebody to pay you 10% more.
13:41I could somehow never get a roar
13:43out of an insurance policy or a loan document.
13:45So as a result,
13:47you were going to be on the commoditized side
13:49of the business
13:51unless you found relevant innovation.
13:53So one of the things we did early on
13:55and I'll just give you one example of the many years.
13:57If you went in 2008
13:59to take a loan for a television.
14:01Most people didn't have a credit card.
14:03So either you paid cash if you're a middle class customer
14:05or you wanted a loan.
14:07You went into the store.
14:09You liked this nice 36 inch plasma TV.
14:11You went with your family.
14:13And the store manager said,
14:15Do you want a loan? Okay.
14:17Give me these details.
14:19And we'll tell you in three days.
14:21Because it went to one of the banks over there.
14:23They send somebody the next day
14:25to your neighborhood.
14:27How long has he been living here?
14:29How is he behaving?
14:31Does he come late at night?
14:33Because you try to establish credit
14:35assessment of the customer.
14:37So it was a broken, dirty process.
14:39We decided that
14:41why can't we build a process
14:43where when the guy comes to buy
14:45a television with his wife, with one or two kids,
14:47we can tell him,
14:49we will deliver the television in the evening
14:51so that you can watch cricket,
14:53you can watch a movie with your kids.
14:55And we built the credit scores,
14:57the technology, the processes to do that.
14:59So from three days in 2008,
15:01by 2010,
15:03we went down to three hours for a loan approval.
15:05By 2012,
15:07we went to three minutes.
15:09And the last ten years,
15:11these are 30 second approvals.
15:13We do about 160,000 loans per day.
15:15About 45 million loans this year.
15:17Wow.
15:19And how are you all using artificial intelligence
15:21within the company?
15:23Is that just a hype
15:25or is that really
15:27coming into action even in companies now?
15:29So to a lot of people,
15:31it is hype. To a lot of people,
15:33they are worried about it because
15:35the productivity improvements can be significant.
15:37We think
15:39for our industry, it is
15:41very, very real. And we are seeing
15:43significant improvements. So we don't
15:45advertise in traditional media.
15:47You guys are too expensive.
15:49We go to digital media and we create
15:51our own content. Also the most effective.
15:53So
15:55we develop our own
15:57digital content. 80%
15:59of that today is done digitally
16:01using AI. And we use
16:03multiple AI algorithms for that.
16:05Since January
16:07last year, so for over a year,
16:09we are now, if a customer
16:11who is say an existing customer of ours
16:13wants another loan, say a personal loan,
16:15and he has contacted us through one of our
16:17various channels, email, SMS,
16:19or calling into our call center
16:21and wants us to help him
16:23out with a fresh loan,
16:25we are experimenting
16:27where we have a trained
16:29gen AI tool that
16:31calls a customer back, will speak
16:33in six different languages, will also speak
16:35in English based on what the customer
16:37is asking, responding
16:39according to that. We are selling
16:4110,000 loans a month.
16:43Nothing compared to 3.5 million a month
16:45that we do, but 10,000 loans a month.
16:47End to end, by this tool
16:49giving about 100-150
16:51crores out per month.
16:53And of course we have a set of humans
16:55there to make sure that the tool is not making
16:57mistakes, is not hallucinating. But we are
16:59seeing very high accuracy levels.
17:01So this is very real, at least for sectors
17:03like ourselves. That's interesting.
17:05Sajid, there's been a lot
17:07of debate about the
17:09working hours per week.
17:13Not to put you in a spot, but what
17:15are your working
17:17hours like? Are they
17:1970 hours?
17:21Are they 90 hours? Are they lesser?
17:23Do you
17:25believe in the 70 hours per week
17:27discussion that's been going on?
17:29I don't work, that's why I can afford
17:31to be here at this time.
17:33No, we don't
17:35control how many hours somebody
17:37works. There could be certain roles. If you're
17:39on a factory assembly line, of course you have to go
17:41there as per a particular time discipline there.
17:43We look at people's output,
17:45and that's very apparent.
17:47So what we started doing in our
17:49companies about 8-10 years ago is, how do you
17:51even rate an employee end of the year?
17:53You know, if somebody
17:55likes somebody, especially, okay, we will
17:57all know maybe 50, 75,
17:59100 people we work with.
18:01Now today we employ across financial services
18:03about 120,000 people. There is no
18:05way we can know the bottom 90%.
18:07So eventually then it is left to
18:09Mr. XYZ and who is reporting
18:11to him. If he likes him, that guy gets
18:13a bonus. If not, he gets a lower bonus.
18:15We matrices
18:1795% of our
18:19jobs into
18:21monthly, weekly
18:23tasks. You do that task,
18:25you get your bonus or you get your
18:27incentive. So we try to
18:29take the politics out of it
18:31and make it as objective as
18:33possible. And we think that
18:35plays a very important role. Of
18:37course, if you are senior management,
18:39the role is a lot more qualitative.
18:41But then those people you know. Those are
18:43the people you are working with. So we
18:45don't go into who is how many times. But yes,
18:47we expect people
18:49will be, for example,
18:51after COVID. I think
18:53within a day or two
18:55of opening up, once the government allowed us
18:57to open up, we were all back at work.
18:59We were not working from home.
19:01Somebody had a medical problem. Somebody
19:03was pregnant. Of course, you
19:05were compassionate about that.
19:07But we said if we have to be in the innovation
19:09business and not at the commodity end
19:11of the business, you can't innovate by
19:13being on four Zoom screens.
19:15You have to be together with people.
19:17There is a large qualitative aspect
19:19and I can see people here from the
19:21film fraternity. You can't do
19:23creativity on screen.
19:25You have to be together. You have to butt wrestle.
19:27There are ideas in the corridor that you end
19:29up coming to your mind. You go to that guy and say,
19:31why don't we do this?
19:33We want people to be there
19:35at work. We don't control how many hours.
19:37Based on the output,
19:39they get rated, they get rewarded.
19:41How has your personal working style
19:43changed over the years? What was it
19:45like when you were in your 40s? What is it
19:47now? What are the things that you were looking at
19:49in your 30s and 40s?
19:51What is it that you now
19:53spend more time on?
19:55I would say till about
19:5715 years ago, I very much
19:59had a line role and I had a set
20:01of tasks which I had to do, which were given to me by the
20:03board. The last 15 years, I've been building
20:05our businesses, which means you're
20:07identifying teams, you're helping them build strategy,
20:09you're focusing on governance.
20:11There's a big difference between a
20:13completely professional company and one
20:15that is family owned and controlled
20:17and with nothing negative towards them is
20:19we are long term.
20:21We are here because the family is there,
20:23the family's ownership is there, the family's name and
20:25credibility is there. So,
20:27governance, strategy,
20:29managing people,
20:31managing talent, the next generation talent.
20:33We work on people who are getting ready,
20:35going to be ready in 5 years' time, in 10 years' time.
20:37That's where we get involved.
20:39And operational stuff
20:41is where we have top quality CEOs running
20:43our companies with their teams, they end
20:45up managing.
20:47Sanjiv, we are going to do a very quick
20:49fire round with you.
20:51Should be interesting.
20:53Interesting for you, I don't know about me.
20:55I've got no doubt
20:57that you'll be honest with it and
20:59as fast as possible.
21:01So, other than your
21:03father, a business
21:05leader you really looked up to?
21:09No one else.
21:13Just it was
21:15the only person was
21:17like as in like from whom you learnt was
21:19your dad? I learn
21:21from people everyday. I learn from people
21:23who work with me. I learn from youngsters
21:25and what I see. But
21:27what my father stood for with his
21:29honesty, his hard work, his
21:31simplicity.
21:33And I know your uncle and
21:35your father knew him and spent
21:37many many hours with him.
21:39I've not seen anybody else like that.
21:41The best
21:43financial advice you've ever
21:45received? So, the
21:47best financial advice that I've
21:49received is save every rupee
21:51you can because it can go to the benefit
21:53of either your customer, your
21:55employee or your shareholder. One
21:57tech innovation that excited you the
21:59most? I think the intuitiveness
22:01of the Apple iPhone. There are cheaper
22:03phones, there are more sophisticated
22:05phones. But this just
22:07does it right every time.
22:09One major fintech trend to
22:11watch out for in the next 5 years?
22:13Very clearly
22:15the way Gen AI is progressing.
22:17So,
22:19we've got leaders from
22:21all the parties, India in
22:232030. What's the
22:25biggest opportunity that you see?
22:27I think this is going to be India's
22:29decade unless we mess it up.
22:31If you look at global
22:33politics, if you look at where we
22:35are at $2700 per capita
22:37and the growth from
22:39this kind of income
22:41level, the capabilities that
22:43we have, the levels of youth
22:45that we have
22:47and a progressive government, I have to say that
22:49because government is here.
22:53Combination of this and the
22:55entrepreneurship of Indians. Look at
22:57our startup ecosystem.
22:59The next 10 years I think are going to be India's
23:01golden decade. And a challenge?
23:05We are competing in a global world.
23:07The world wants to do business
23:09with us. We have to
23:11improve on ease of doing business.
23:13At the center, I think a lot has
23:15been done. We have to improve
23:17in the states. And the states that take the lead
23:19will go way ahead
23:21everywhere else. The last time
23:23I met the Honorable Chief Minister,
23:25I told him, you're ignoring Pune.
23:27And I'm happy with the kind of announcements that have
23:29now been made for Pune.
23:31We have to get our cities up.
23:33That's where people work. That's where people live.
23:35Industry will do its bit.
23:37For example, today our logistics
23:39costs, once a product leaves
23:41the factory, a physical product,
23:43is 16%
23:45to total cost. Globally, the most
23:47competitive is 6-8%.
23:49Adding another 8-10%, you can't
23:51compete effectively. And there is a lot
23:53of improvement that is taking place already.
23:55But I believe we have to,
23:57it never stops.
23:59Each one of us has to see, we have to keep
24:01improving to go there.
24:03Every time you've met the Honorable Chief Minister,
24:05immediately after that
24:07our Honorable Chairman,
24:09Mr. Vijay Dardas, met him
24:11for Nagpur. And my father,
24:13Mr. Anil Dardas, met him for Aurangabad.
24:15Now I know where the
24:17problem lies.
24:19You know, one stock that
24:21you've been holding in your personal portfolio, other than
24:23Bajaj, for the last 5-10 years?
24:25So you know, this is interesting and
24:27my uncles are all over here.
24:29I think we must be probably the
24:31only family that doesn't own anything
24:33other than our own stocks.
24:35We have never believed in investing elsewhere.
24:37We've said if our shareholders
24:39put their money, then we must put it.
24:41At least materially.
24:43Get early to work
24:45or stay late at work?
24:47Well, I guess it depends
24:49on, I get to work by about 9 or so.
24:51I don't leave
24:53late, I leave by about 5, I work out
24:55in the evening, then I work a couple of hours more
24:57in the night. Luckily my role gives me
24:59flexibility to do that.
25:01And last, how do you respond
25:03when a telemarketer calls you and
25:05pitches you to buy the
25:07Bajaj insurance?
25:09I create my own memes.
25:11Tell me, have you ever, I have to ask you this
25:13because all of us over here
25:15with, you know, a show of
25:17hands, how many of us have got calls from Bajaj
25:19insurance? And there are quite
25:21a few. So, including
25:23Karthik, you know, he's raised his hands.
25:25I don't know how do they get
25:27your number also, Karthik, actually.
25:29But, have you ever played
25:31a prank with the person? Have you gone
25:33through the whole cycle of
25:35you know, tell me what are the rates and everything?
25:37So, you know, my industry
25:39being regulated is so sensitive
25:41and Mr. Jayant Patil who is here in his
25:43earlier role as finance minister also,
25:45he knows how
25:47strong our regulators are. So, we can't afford
25:49to play any pranks even by mistake.
25:51So, I can
25:53tell you today, you know, the
25:55point is 95%
25:57of those calls is not us. It's third
25:59party distributors claiming to be us.
26:012-3% could be us.
26:03That's why we have a do not disturb
26:05number on our website. You click
26:07on that and we will not disturb you.
26:09But,
26:11we have to keep in mind that
26:13if we are today doing 45
26:15million loans a year,
26:17we get roughly,
26:19we bank roughly
26:2145 million payments a month.
26:23We get
26:25for such harassment about
26:27400 complaints a month.
26:29That is about
26:310.006%.
26:33Now, we are trying to see how do we get 400 to
26:35300 to 200 because those 400 also
26:37end up becoming
26:39irate customers. But,
26:41it's so difficult to take it to 0.
26:43And then you have all the memes coming.
26:45So, I can understand that. It's part of our job.
26:47We have to bear with it. But, that's what the numbers
26:49are like.
26:51So, everyone, a big round of applause for Sanjeev
26:53Bajaj.
26:55Sanjeev, thank you for doing this.
26:57Thank you so much.
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