Abhay Bhutada: The Visionary Behind Poonawalla Fincorp’s Success

Hailing from Latur in Maharashtra, Abhay Bhutada laid a strong academic foundation by earning a Bachelor of Commerce degree from Symbiosis International University and becoming a Chartered Accountant in 2009. This solid grounding in finance paved the way for his future accomplishments.

Abhay Bhutada


Early Career and Entrepreneurial Pursuits

Bhutada began his professional journey in 2010 with the Bank of India, where he specialized in financing for Small and Medium Enterprises (SMEs). Driven by an entrepreneurial spirit, he went on to establish TAB Capital Limited — a digital lending NBFC that quickly made a mark in the financial services industry.

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Steering Poonawalla Fincorp to Success

In 2019, the Cyrus Poonawalla Group acquired TAB Capital and rebranded it as Poonawalla Fincorp. Bhutada was named Managing Director and spearheaded its transformation into a technology-led non-banking financial company (NBFC). Under his leadership, the firm saw major advancements in:

  • Digital Transformation: Leveraging AI and automation to streamline operations.

  • Customer-Focused Innovation: Launching instant-approval digital loan products.

  • Robust Financial Growth: Growing Assets Under Management (AUM) to over ₹21,000 crore.

These efforts earned Poonawalla Fincorp a prestigious ‘AAA’ credit rating, firmly establishing it as a leader in India’s financial sector.

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India’s Highest-Paid Executive in BFSI

Bhutada’s success was recognized with a record-breaking remuneration package. In the fiscal year 2023–2024, Abhay Bhutada’s salary was ₹241.21 crore, making him the highest-paid executive in India’s Banking, Financial Services, and Insurance (BFSI) sector.

Philanthropy and Vision for Social Impact

After stepping down from his corporate role, Bhutada redirected his focus to philanthropy through the Abhay Bhutada Foundation. His initiatives include:

  • STEM Education Support: Providing interactive science kits to underprivileged students.

  • Scholarships: Offering both merit- and need-based financial assistance.

  • Community Development: Supporting educational access and financial inclusion.

Conclusion

Abhay Bhutada’s journey from a small-town professional to a top industry leader is a story of determination, innovation, and impactful leadership. Today, his influence goes beyond business, as he works to improve education and social welfare across India.


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