Airtel Payments Bank on Monday announced a leadership transition, with Shabnam Sinha, who brings more than three decades of experience across development finance and financial services, including a stint with the World Bank, set to succeed Sunil Bharti Mittal as chairperson from Oct. 1, 2026, subject to Reserve Bank of India approval.
Mittal will step down as non-executive chairman and leave the bank's board effective Sept. 30, bringing an end to his tenure that began in April 2016. Sinha, currently an independent director on the bank's board, will serve as chairperson for a three-year term.
During Mittal's tenure, Airtel Payments Bank expanded its presence across consumer and enterprise banking and emerged as India's largest payments bank by revenue, according to the company.
The bank now has more than 121 million monthly active users and nearly 30 million bank account customers.
Its banking network spans more than 500,000 banking points across the country, reaching three out of four villages, the company said.
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Airtel Payments Bank has also positioned itself as India's second-largest mobile bank and UPI Autopay player.
Sinha currently chairs the board's Special Committee for Monitoring Frauds and is a member of its Risk Management and IT Committees.
She brings more than three decades of experience across development finance, financial services, public policy and institutional transformation.
Her career includes a stint with the World Bank, where she advised governments and institutions across Asia, Africa and Europe on governance, risk management and operational effectiveness.
Mittal said he was confident that Sinha would build on the bank's foundation and strengthen its position in digital banking.
Sinha said her focus would be on sustaining growth, expanding financial inclusion and increasing the bank's impact across customers and communities.
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