Airtel Payments Bank names Shabnam Sinha as chairperson, Sunil Mittal to step down

Airtel Payments Bank has appointed Shabnam Sinha as its new chairperson, succeeding Sunil Bharti Mittal, who will step down from the bank’s board on September 30.

Sinha, currently an independent director at Airtel Payments Bank, will take charge from October 1 for a three-year term. Her appointment is subject to approval from the Reserve Bank of India (RBI).

The bank said Sinha will focus on building on its growth, strengthening its digital financial services and expanding its reach among customers and communities.

Sinha currently chairs the bank’s Special Committee of the Board for Monitoring Frauds and is also a member of its Risk Management and Information Technology committees.

With more than 30 years of experience, Sinha has worked across development finance, financial services, governance, and public policy. Earlier in her career, she held roles at the World Bank, advising governments and institutions in Asia, Africa, and Europe on risk management and institutional effectiveness.

Mittal had been serving as the non-executive chairman since April 2016 and oversaw the bank’s growth into one of India’s largest digital banking platforms. 

Airtel Payments Bank said it has more than 121 million monthly active users and nearly 30 million bank account customers. Its services are available through the Airtel Thanks app and more than 500,000 banking points across the country.