Airtel Payments Bank names Shabnam Sinha as chairperson; Sunil Bharti Mittal to step down

Airtel Payments Bank has announced a leadership transition, with Shabnam Sinha set to succeed Sunil Bharti Mittal as chairperson of the payments bank from October 1, 2026. Mittal will step down as non-executive chairman and leave the board on September 30, marking the end of a decade-long tenure at the bank.

Shabnam Sinha's appointment as chairperson for a three-year term has been approved by the board and the Reserve Bank of India (RBI), Airtel Payments Bank said in a statement.

Shabnam Sinha to lead Airtel Payments Bank from October 1

Shabnam Sinha currently serves as an independent director on the Airtel Payments Bank board. She chairs the board's Special Committee for Monitoring Frauds and is also a member of its Risk Management and IT Committees.

Shabnam Sinha has more than three decades of experience spanning development finance, financial services, public policy and institutional transformation, according to the official press release.

Sinha's career includes work with the World Bank, where she advised governments and institutions across Asia, Africa and Europe on governance, risk management and operational effectiveness.

Shabnam Sinha's background also includes experience in financial inclusion, digital transformation and institution building, areas that are central to Airtel Payments Bank's expansion strategy.

Commenting on her appointment, Shabnam Sinha said, "I am honoured 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. The Bank has built a strong and trusted institution by combining technology with accessible banking, serving millions across the country and being the bridge to the formal economy for countless Indians. I am grateful to Mr. Mittal and the Board for their trust in me. I look forward to working closely with the Board and management team to build on our strong momentum, drive the next phase of growth and expand the Bank’s impact for customers, partners and communities across the country."

Sunil Bharti Mittal steps down after 10 years

Sunil Bharti Mittal, founder and chairman of Bharti Enterprises, became the 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," the release further said.

Today, the bank serves over 121 million monthly active users and nearly 30 million bank account customers through the Airtel Thanks App, supported by a network of over 500,000 banking points, the largest network in the country, reaching three out of four villages across India, the release added.

The 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 added.

Airtel Payments Bank profit surges 73 pc to ₹109 cr in FY26

Airtel Payments Bank on Wednesday reported a 73 per cent jump in consolidated net profit at ₹109 crore in the financial year ended March 2026.

The bank had earned a net profit of ₹63 crore in the previous fiscal.

During FY26, revenue rose to ₹3,207 crore from ₹2,709 crore in FY25, Airtel Payments Bank said in a statement.

Customer balances rose 26 per cent to ₹4,612 crore, it said.