Sunil Mittal to step down as Airtel Payments Bank Chairman; Shabnam Sinha to take charge
Airtel Payments Bank is set for its first major leadership transition in a decade. Sunil Bharti Mittal will step down as its Non-Executive Chairman and exit the Board on September 30, with Shabnam Sinha taking charge the following day.
Sinha will serve as Chairperson for a three-year term beginning October 1, 2026. The Reserve Bank of India has approved her appointment following the Board’s nomination, the bank said on Monday.
She currently serves as an Independent Director on the bank’s Board and chairs its Special Committee for Monitoring Frauds. Sinha is also a member of the Risk Management and IT committees.
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She added that the bank had combined technology with accessible banking to build a trusted institution serving millions and connecting underserved Indians with the formal economy.
Sinha brings more than three decades of experience across development finance, financial services, public policy and institutional transformation. She previously worked at the World Bank, advising governments and institutions across Asia, Africa and Europe on governance, risk management and operational effectiveness.
Mittal, the founder and chairman of Bharti Enterprises, had led Airtel Payments Bank as its Non-Executive Chairman since April 2016.
“It has been a privilege to serve as Chairman of Airtel Payments Bank and witness its journey from an accessibility-focused effort into a trusted institution serving millions across urban and rural India,” Mittal said.
Under his stewardship, the bank built one of India’s largest banking networks, pushed deeper into underserved communities and expanded its digital-first services.
Airtel Payments Bank currently serves more than 121 million monthly active users and nearly 30 million account holders through the Airtel Thanks app and over 500,000 banking points nationwide. The bank said its network now reaches three out of every four villages in India.
Sinha said her immediate task would be to build on that reach and steer the bank into its next phase of growth.
“I look forward to working with the Board and management team to build on our strong momentum, drive the next phase of growth and expand the Bank’s impact for customers, partners and communities across the country,” she said.
(With inputs from ANI)