• Wed. Feb 28th, 2024

Bajaj Finance offers an option to opt out of marketing calls

Bajaj Finance offers an option to opt out of marketing calls

“In three months you will see an option on our website and web app, you click on it and we will never bother you. You have the right to be forgotten with us,” he said Sanjeev Bajaj, managing director of parent company Bajaj Finserv Ltd, at an event to launch the company’s mutual fund business.

A large number of individuals may see this move as a step in the right direction—many of whom have taken to social media to complain about non-banking finance company representatives trying to sell loans.

Bajaj acknowledged that the current system sometimes goes wrong, but stressed the importance of outreach. “We disburse 3 million loans a month and we get 1,500 complaints a quarter. Without doubt, there are 1,500 people that we need to address to understand why they are bombarded without losing the opportunity to financially include 3 million people,” he said.

According to Bajaj, the lender currently gets about 15% of its business through telemarketing calls. This is a significant amount, especially since Bajaj Finance has a large number of small-ticket loans.

In the quarter ended March 31, Bajaj Finance added 30.9 lakh new customers and assets under management grew 29% to Rs 2.47 lakh crore.

Eventually, the company wants to increase reliance on digital channels and reduce loan originations to 10% through “push” efforts, Bajaj said.

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