Sunil Bharti Mittal is set to step down as the non-executive chairman of Airtel Payments Bank and leave its board after serving in the role for more than a decade.

His tenure will conclude on September 30, following which existing board member Shabnam Sinha will take over as chairperson on October 1 for a three-year term.

Sinha’s appointment has been cleared by Airtel Payments Bank’s board and the RBI, the payments bank said in a statement. 

Mittal, the founder and chairman of Bharti Enterprises, was appointed non-executive chairman of Airtel Payments Bank in April 2016. 

During his tenure, the payments bank expanded its reach to more than 121 Mn monthly active users and nearly 30 Mn bank account customers. It currently operates a network of more than 5 Lakh banking points across the country. 

“… I thank our team, board and stakeholders for their trust, and I am confident that under Shabnam’s leadership, the Airtel Payments Bank will build on this foundation and further strengthen its position as one of India’s leading digital banking platforms,” said Mittal.

Sinha has more than three decades of experience across development finance, financial services, public policy, and institutional transformation. 

She currently serves as an independent director on Airtel Payments Bank’s board and chairs its special committee for monitoring frauds. She is also a member of the board’s risk management and information technology committees. 

Sinha previously worked at the World Bank, where she advised governments and institutions across Asia, Africa, and Europe on governance, risk management, and operational effectiveness.

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