Airtel Payments Bank on Monday announced the appointment of Shabnam Sinha as the Chairperson of Airtel Payments Bank for a period of three years beginning October 1, according to a press release. She will succeed Sunil Bharti Mittal who will conclude his tenure as non-executive chairman and step down from the board, effective September 30.
Mittal, founder and chairman of Bharti Enterprises, was appointed as non-executive chairman of Airtel Payments Bank in April 2016. Under his leadership, the bank grew to become India’s largest payments bank by revenue, with a strong presence across both consumer and enterprise businesses.
Sinha currently serves as an Independent Director on the board of the bank, where she chairs the special committee of the Board for monitoring frauds and is a member of the risk management and IT committees.
Airtel Payments Bank has expanded access to formal banking services across the country, while also emerging as the country’s second largest mobile bank and UPI Autopay player. It serves over 121 million monthly active users and nearly 30 million bank account customers through Airtel Thanks App and a network of over 500,000 banking points.