Shabnam Sinha to be Airtel Payments Bank’s new chairperson:Sunil Mittal to step down after 10 years, leave board on 30 September

Airtel Payments Bank’s new Chairperson will be Shabnam Sinha. She will take charge on October 1, 2026, replacing Non-Executive Chairman Sunil Bharti Mittal, who will step down from the board on September 30 after completing his 10-year tenure. Her appointment for a three-year term as Chairperson has been approved by the bank’s board and the Reserve Bank of India (RBI). Who is Shabnam Sinha: Know about her experience and role at the bank Shabnam Sinha currently serves as an Independent Director on the board of Airtel Payments Bank. She chairs the bank’s Special Committee for Fraud Monitoring. She is also a member of the Risk Management and IT committees. She has more than three decades of experience in development finance, financial services, public policy and institutional change. Sinha has also worked with the World Bank, advising governments and institutions across Asia, Africa and Europe on governance, risk management and operational effectiveness. Her experience in financial inclusion and digital transformation is expected to play an important role in Airtel Payments Bank’s expansion. Shabnam Sinha said: Being given this responsibility is an honour Sinha said that taking on this responsibility at Airtel Payments Bank is an honour, especially at a time when digital financial services are becoming the backbone of India’s growth journey. She said the bank has built a strong and trusted institution by combining technology with accessible banking, serving crores of people across the country. She thanked Mittal and the board for their trust and said she looked forward to taking the bank’s growth journey forward. Sunil Mittal’s 10-year journey at Airtel Payments Bank Sunil Bharti Mittal, founder and chairman of Bharti Enterprises, became Non-Executive Chairman of Airtel Payments Bank in April 2016. Under his 10-year leadership, the bank emerged as India’s largest payments bank by revenue. Airtel Payments Bank currently has more than 121 million monthly active users, while around 30 million customers have bank accounts through the Airtel Thanks app. The bank has a network of more than 500,000 banking points, reaching three-fourths of India’s villages. This is the country’s largest banking network. The bank has also become India’s second-largest mobile bank and UPI AutoPay player. Bank’s financial results: FY26 profit rises 73% to ₹109 crore Airtel Payments Bank delivered strong performance in FY26, which ended in March 2026. Net profit: Consolidated net profit rose 73% to ₹109 crore, compared with ₹63 crore in the previous financial year. Revenue: Revenue increased to ₹3,207 crore in FY26 from ₹2,709 crore in FY25. Customer deposits: Customer balances rose 26% to ₹4,612 crore. Knowledge: What is a payments bank? A payments bank is a special type of bank approved by the RBI. It can accept deposits and provide remittance services like regular banks, but it cannot issue loans or credit cards. Airtel Payments Bank was the first payments bank to launch in India.