Muthoot Capital Services Limited has announced a leadership transition in its credit function. The board noted the resignation of Ajay Muchhal from the role of Head – Credit, effective at the close of business on August 31, 2026, and approved the appointment of Vidya Awasthi as the new Head – Credit, effective September 2, 2026, following the recommendations of the Nomination and Remuneration Committee.
Vidya Awasthi brings a strong 19-year track record in credit risk and lending across MSME, retail and commercial segments. Her career includes senior roles at Sundaram Finance Limited, ICICI Bank Limited and HDFC Bank Limited, with CredRight Finance Private Limited where she was most recently Head – Credit & Risk (Unsecured Business Loans & LAP) since October 2024. She is noted for expertise in credit risk management, underwriting, portfolio management, policy formulation and risk assessment, along with leading digital transformations of credit processes, STP initiatives, Business Rule Engines and AI/ML-based underwriting solutions.
Ajay Muchhal’s departure is described as a personal-reasons resignation. The company has expressed appreciation for his leadership and support during the transition period, as Vidya Awasthi steps into the role to steer the credit function.
Together, the move underscores MCSL’s emphasis on strengthening the credit function to support growth while maintaining a disciplined risk framework across its lending activities.