Ajay K Khurana joins ECL Finance as MD

He has played a key role in strengthening Bank of Baroda’s position in India and has held leadership roles at Syndicate Bank and Vijaya Bank

by e4m Staff
Published: Apr 2, 2025 4:47 PM | 1 min read

Ajay K Khurana has joined ECL Finance Ltd. as Managing Director, effective April 1, 2025. Khurana is a seasoned banking professional with over four decades of experience in
consumer banking, risk management, and digital transformation. He has played a key role in strengthening Bank of Baroda’s position in India and has held leadership roles at Syndicate Bank and Vijaya Bank.

With a sharp focus on growth and governance, he has served on the boards of banks, including the National Payments Corporation of India (NPCI) and Indo Zambia Bank. As Chairman of Baroda Global Shared Services and Baroda Sun Technologies, he has driven technological advancements to enhance banking operations.

ECL Finance is focused on driving its strategic transformation, shifting from its traditional focus on wholesale lending to a more dynamic, retail-driven approach. Over the last five years, ECL Finance has reduced its Wholesale book by 85% and debt by 80% and is now pivoting to an asset-light MSME lending model. This strategic shift is aimed to position ECL Finance to better meet the needs of its customers while fostering innovation and strengthening its foundations.

As the MD of ECL Finance, Khurana will play a key role in scaling the MSME business, enhancing operational efficiency through the integration of advanced technologies and maintaining a strong culture of governance and compliance.