ECL Finance names Ajay Khurana MD; Moody's upgrades Muthoot rating

ECL Finance appoints Ajay Khurana as managing director

 

ECL Finance Ltd, the micro, small and medium enterprises (MSME) lending arm of Edelweiss Group, has appointed Ajay K Khurana as managing director, effective April 1, 2025. Earlier, Khurana worked as executive director with public sector lender Bank of Baroda. He has over four decades of experience in consumer banking, risk management, and digital transformation, and has worked in leadership roles at Syndicate Bank and Vijaya Bank.

 

Moody's upgrades Muthoot Finance to Ba1; outlook remains stable

 

Moody's Ratings has upgraded gold financier Muthoot Finance Ltd’s long-term corporate family rating from Ba2 to Ba1. The rating outlook remains stable. The upgrade reflects Muthoot’s strong credit profile, supported by its leading franchise and solid track record in the gold financing industry in India.

 

The finance company's strong operational controls and risk management practices in the gold financing portfolio support its growth and asset quality. Despite strong competition and aggressive lending practices by other banks and non-banking financial companies (NBFCs), Muthoot has maintained its underwriting standards, resulting in consistent loan growth and stable asset quality, Moody's said.