Sunil Mittal to Step Down as Airtel Payments Bank Chairman; Shabnam Sinha Named Successor

NEW DELHI — Airtel Payments Bank announced Monday that Sunil Bharti Mittal will step down as non-executive chairman and leave the bank’s board effective Sept. 30, 2026.

Shabnam Sinha, currently an independent director on the bank’s board, will succeed Mittal as chairperson for a three-year term beginning Oct. 1. Her appointment has been approved by the board and the Reserve Bank of India.

“I am honored to assume this responsibility at Airtel Payments Bank at a time when digital financial services are becoming the backbone of India’s inclusive growth story,” Sinha said.

She said she looks forward to working with the board and management team to build on the bank’s momentum, drive its next phase of growth and expand its impact for customers, partners and communities.

Sinha has more than three decades of leadership and board experience spanning development finance, financial services, public policy and institutional transformation. Her career includes a stint at the World Bank, where she advised governments and institutions across Asia, Africa and Europe on governance, risk management and operational effectiveness.

Mittal, founder and chairman of Bharti Enterprises, was appointed non-executive chairman of Airtel Payments Bank in April 2016. The bank said it has since grown into India’s largest payments bank by revenue, with operations spanning consumer and enterprise businesses.

Mittal said it had been a privilege to serve as chairman and expressed confidence that Sinha would build on the bank’s foundation and further strengthen its position as a digital banking platform.

Shares of Bharti Airtel closed Monday at Rs 1,975, down 0.86%, or Rs 17.10, from the previous close. (Source: IANS)