Airtel Payments Bank appoints Shabnam Sinha chairperson; Sunil Bharti Mittal steps down

Airtel Payments Bank has announced a leadership transition, with Shabnam Sinha set to succeed Sunil Bharti Mittal as non-executive chairperson from October 1, 2026.

According to the company, Mittal will step down from the Board effective September 30, 2026. Sinha will take over as chairperson for a three-year term following her appointment by the Board and approval from the Reserve Bank of India (RBI).

The move marks the end of Mittal's tenure as non-executive chairman, a position he has held since April 2016, shortly before Airtel Payments Bank commenced operations as part of India's payments bank ecosystem.

Leadership transition follows a decade of growth

The change comes as Airtel Payments Bank has expanded its presence in digital banking and financial inclusion.

The company said it currently serves:

• More than 121 million monthly active users
• Nearly 30 million bank account customers
• Over 500,000 banking points across India
• Customers through the Airtel Thanks App and its physical banking network

According to the bank, its network reaches three out of every four villages in India.

Over the past decade, Airtel Payments Bank has focused on extending formal banking access through a digital-first model. The company said it has emerged as India's second-largest mobile bank and the country's second-largest UPI Autopay player.

The bank also highlighted its rural outreach efforts, noting that one in five rural banking points is operated by women banking correspondents.

Mittal reflects on the bank's journey

Commenting on the transition, Mittal said it had been a privilege to witness the institution's evolution from an accessibility-focused initiative into a banking platform serving millions of customers across urban and rural India.

He said the bank had built one of the country's largest banking networks, expanded access to formal financial services for underserved communities, and developed a digital banking experience for customers.

Mittal also thanked the bank's employees, Board members, and stakeholders, expressing confidence in Sinha's ability to build on the organisation's existing foundation.

Sinha brings extensive board and development finance experience

Sinha is currently an independent director on the Board of Airtel Payments Bank.

She also serves as:

• Chairperson of the Special Committee of the Board for Monitoring Frauds
• Member of the Risk Management Committee
• Member of the IT Committee

In a statement, Sinha said digital financial services are becoming increasingly important to India's inclusive growth agenda and described the appointment as an honour.

She said Airtel Payments Bank has combined technology and accessible banking services to connect millions of people to the formal economy. She added that she looked forward to working with the Board and management team during the bank's next phase of growth.

Experience spans global institutions and public policy

Sinha brings more than three decades of leadership and board-level experience across development finance, financial services, public policy, and institutional transformation.

Her professional background includes a tenure at the World Bank, where she advised governments and institutions across Asia, Africa, and Europe on governance, risk management, and operational effectiveness.

According to the company, her experience also covers:

• Financial inclusion
• Digital transformation
• Institution building
• Governance and risk management

Focus turns to the next phase

The leadership transition comes at a time when digital banking adoption continues to deepen across India and financial institutions are expanding their role in serving both urban and rural customers.

With Sinha set to assume the chairperson's role in October, Airtel Payments Bank enters its next phase under a leader whose experience spans financial services, governance, and digital transformation, while building on a platform that now reaches millions of users across the country.