Airtel Payments Bank Managing Director and CEO Shashi Arora has quit the company after nearly a 12-year stint with the Sunil Mittal-led Bharti Airtel group.
Airtel Payments Bank Managing Director and CEO Shashi Arora has quit the company after nearly a 12-year stint with the Sunil Mittal-led Bharti Airtel group. A Bharti Airtel spokesperson confirmed that Shashi Arora has decided to pursue opportunities outside the group.
Shashi Arora was associated with Bharti Airtel for nearly 12 years. He had joined the company back in February 2006 as the COO, Delhi Circle for Bharti Airtel. Rising steadily through the ranks in the company, Shashi Arora headed the company’s DTH business for about five years, becoming the Director and CEO of Airtel DTH, before taking over as the MD and CEO of Airtel Payments Bank last year in June 2016. Before joining Bharti Airtel, Shashi Arora was Group Marketing Head with Kotak Mahindra Bank. Previously, he was involved in sales and branding roles at Hindustan Unilever Ltd, according to his LinkedIn profile.
However, the spokesperson did not say if Arora’s resignation was linked to the recent Aadhaar issue, in which UIDAI temporarily barred the company from carrying out e-KYC’s of customers.
More than 31 lakh customers received Rs 190 crore of LPG subsidy in their Airtel bank accounts, which the reports claimed that they did not know had been opened. The company had claimed no wrong-doing. It said no bank account was opened without the consent of the customers and additional safeguards have been introduced.
Bharti Airtel On Tuesday deposited Rs 2.5 crore as an interim penalty to Unique Identification Authority of India (UIDAI). UIDAI later on Thursday allowed Airtel to do e-KYC. Mounting pressure on Airtel, the state-run oil companies had begun writing to billionaire Sunil Mittal-led firm asking it to transfer back the LPG subsidy that got credited to its payment bank accounts.