ECL Finance, a subsidiary of Edelweiss Group, has announced the appointment of Mr Ajay K Khurana as its Managing Director, effective 1 April 2025. With over four decades of experience in banking and financial services, Mr Khurana brings a wealth of expertise in consumer banking, risk management, and digital transformation to his new role.
Mr Khurana’s illustrious career has been marked by significant contributions to the Indian banking sector. He has been instrumental in strengthening the market position of Bank of Baroda, where he held key leadership roles. His tenure also includes high-ranking positions at Syndicate Bank and Vijaya Bank, where he played pivotal roles in driving growth and operational improvements.
Beyond his executive responsibilities, Mr Khurana has served on the boards of prominent financial institutions, including the National Payments Corporation of India (NPCI) and Indo Zambia Bank. His governance expertise and focus on compliance have been widely recognised in the industry. As Chairman of Baroda Global Shared Services and Baroda Sun Technologies, he spearheaded technological advancements to streamline banking operations and enhance customer experience.
In his new capacity as Managing Director of ECL Finance, Mr Khurana is expected to lead the company’s efforts in scaling its MSME (Micro, Small, and Medium Enterprises) business. This sector represents a critical growth area for ECL Finance as it seeks to expand its footprint in providing tailored financial solutions to underserved businesses across India. His strategic vision will be key in driving innovation and operational efficiency through the integration of advanced technologies.
Mr Khurana’s appointment comes at a time when ECL Finance is focused on strengthening its governance framework and fostering a culture of compliance. His leadership is anticipated to ensure robust risk management practices while maintaining the company’s commitment to ethical business operations.
Commenting on his new role, Mr Khurana expressed enthusiasm for contributing to ECL Finance’s growth trajectory. “I am honoured to join ECL Finance at this exciting juncture. Together with the team, I look forward to leveraging technology and innovation to deliver impactful financial solutions that empower businesses and drive economic progress,” he said.
The appointment of Mr Ajay K Khurana signals ECL Finance’s commitment to leadership excellence as it continues to evolve in a dynamic financial landscape. With his proven track record in banking transformation and governance, the company is poised for sustained growth under his stewardship.-p
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