Sunil Mittal to step down as Airtel Payments Bank Chairman, Shabnam Sinha to take over

Sunil Bharti Mittal is set to resign as the non-executive chairman of Airtel Payments Bank on September 30, concluding a tenure of over a decade in the role. His departure from the board follows this transition.

Shabnam Sinha, an existing board member, has been appointed as the new chairperson. Her appointment is effective October 1 and will be for a three-year term. The decision has received approval from both the bank's board and the Reserve Bank of India (RBI).

Mittal, who also founded Bharti Enterprises, was appointed chairman in April 2016. During his leadership, Airtel Payments Bank grew its monthly active user base to over 121 million and its bank account customers to nearly 30 million. The bank operates a network of more than 500,000 banking points across India.

Sinha brings over 30 years of experience in development finance, financial services, and public policy. Previously, she advised governments and institutions at the World Bank. She currently chairs the bank's special committee for monitoring frauds and sits on its risk management and IT committees.

The leadership change coincides with the bank's ongoing expansion. Airtel Payments Bank recently reported an 18.4% year-over-year increase in revenue for the fiscal year ending March 2026, with a net profit of 109 crore rupees. Customer deposits also saw a 26% annual increase.