ECL Finance appoints Ajay Khurana as MD, shifts focus to MSME lending

ECL Finance

ECL Finance Ltd., a subsidiary of Edelweiss Group, has appointed Ajay K Khurana as its new Managing Director, effective April 1, 2025.

According to a release, Khurana has previously held leadership roles at Bank of Baroda, Syndicate Bank, and Vijaya Bank, where he played a key role in digital transformation and risk management.

ECL Finance has been undergoing a strategic transformation, shifting from its traditional wholesale lending model to a more retail-driven, MSME-focused approach, the release said.

Over the past five years, the company has reduced its wholesale loan book by 85 percent and its debt by 90 percent.

With Khurana at the helm, the company aims to scale its MSME business by integrating advanced technologies, improving operational efficiencies, and strengthening governance and compliance frameworks, the release said.

The move comes as part of ECL Finance’s long-term vision to align with evolving market demands, catering to the growing credit needs of small and medium enterprises while fostering innovation and sustainable growth, it added.