Mumbai, March 24 -- Succession planning at Bajaj family's financial services businesses begins by identifying young leaders and grooming them for years so that they can step up in future, Sanjiv Bajaj, chairman and managing director, Bajaj Finserv said.

"We identify them early. We move them around various jobs and to various businesses," Bajaj said in an interview at his South Mumbai residence overlooking the Coastal Road. "They move from business to human resources and to operations. So, by the time they come into their 40s, they have a very good experience across multiple areas."

Bajaj's idea is to make better leaders out of them. Interestingly, the financial services group also moves people in its middle management tiers between grou...