Bajaj Finance revises fair disclosure code for transparency and compliance

Bajaj Finance Limited announced on September 12, 2025, that its board of directors has approved an amendment to the ‘Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information’ (Fair Disclosure Code). This revision aims to ensure prompt and non-discriminatory public disclosure of UPSI that could impact price discovery, making it generally available to the public. The amended code is consistent with Regulation 8(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015.

The updated code clarifies "legitimate purposes" for sharing UPSI, defining it as information shared in the ordinary course of business with various stakeholders such as partners, lenders, auditors, and advisors, provided it does not circumvent insider trading prohibitions. It also establishes principles for determining legitimate purposes, including requirements for authority, disclosure of purpose, and the necessity of information for the stated goal. The company secretary, R. Vijay, will serve as the chief investor relations officer (CIRO) to manage the dissemination and disclosure of UPSI.

Key provisions include the maintenance of a structured digital database for tracking individuals with whom UPSI is shared, along with their Permanent Account Numbers or other identifiers. The code emphasizes that any sharing of information to evade or circumvent regulations will not be considered legitimate. The policy will be reviewed periodically to align with internal controls and regulatory changes, with legal provisions taking precedence in cases of inconsistency.