According to the latest regulatory filing from Bharti Airtel, Dr. Shabnam Sinha will succeed Sunil Bharti Mittal as Chairperson of Airtel Payments Bank Limited for a three-year term beginning October 1, 2026. The announcement was made through official channels, with the transition subject to appointment by the Board and approval by the Reserve Bank of India (RBI). As per the company's filing, Sunil Bharti Mittal will conclude his tenure as Non-Executive Chairman and step down from the board, effective September 30, 2026. This leadership change represents a major shift in the bank's governance structure, marking the end of Mittal's decade-long tenure at the bank since April 2016. The bank has grown to become India's largest payments bank by revenue under his leadership, with a strong presence across both consumer and enterprise segments. Airtel Payments Bank commenced operations in November 2016 and was among the 11 entities to receive in-principle approval from the RBI to set up a payments bank.
The transition involves Dr. Shabnam Sinha taking over from Sunil Bharti Mittal in the role of chairperson, with the appointment being made through official channels. Sinha currently serves as an Independent Director on the board of Airtel Payments Bank, where she chairs the special committee of the board for monitoring frauds and is a member of the risk management and IT committees. The bank's current leadership structure shows Sinha bringing over three decades of leadership and board experience across development finance, financial services, public policy and institutional transformation. Her career includes the World Bank, where she served as Lead Specialist for 15 years, advising governments and institutions across Asia, Africa and Europe on governance, risk management and operational effectiveness. Sinha leads the World Bank's India program concerning school education and skills development, which includes support for the Indian government's Samagra Shiksha program and the Ministry of Skills. Her background also includes experience as Chief Executive Officer (CEO) of PPP Education at a large private-sector company and as Senior Program Advisor for Education with the United States Agency for International Development (USAID) in New Delhi. As an independent director, she brings expertise in financial inclusion, digital transformation and institution building, providing valuable strategic perspective as Airtel Payments Bank enters its next phase of growth and innovation.
This leadership transition comes at a time when Airtel Payments Bank continues to operate in the competitive payments and banking sector. The change in chairperson role suggests the bank's focus on fresh leadership and strategic direction as it navigates the evolving financial services landscape. Bharti Airtel shares closed at ₹1,975 on Monday, down 0.86% or ₹17.10 following the announcement. Under Mittal's leadership since April 2016, the bank grew to become India's largest payments bank by revenue, with a strong presence across both consumer and enterprise businesses. Currently, the bank serves over 121 million monthly active users and nearly 30 million bank account customers through the Airtel Thanks App and a network of over 500,000 banking points, reaching three out of four villages across India. The company's 20% of rural banking correspondents are women, demonstrating strong commitment to financial inclusion. Airtel Payments Bank is one of the five active payments banks in India, alongside India Post Payments Bank, Fino Payments Bank, Jio Payments Bank, and NSDL Payments Bank. Sinha's priorities will include building on the bank's growth, strengthening digital financial services and expanding its reach among customers and communities.
Bharti Enterprises Founder and Chairman Mittal commented on the transition, stating "It has been a privilege to serve as Chairman of Airtel Payments Bank and witness its journey from an accessibility-focused effort into a trusted institution serving millions across urban and rural India. We built one of the country's largest banking networks, brought underserved communities into formal banking, and delivered a safe, digital-first experience. I thank our team, Board and stakeholders for their trust, and I am confident that under Shabnam's leadership, the Airtel Payments Bank will build on this foundation and further strengthen its position as one of India's leading digital banking platforms." Dr. Shabnam Sinha responded by expressing gratitude for the trust placed in her, stating "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 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."
Airtel Payments Bank reported strong financial performance for FY26, with consolidated net profit surging 73% to ₹109 crore compared to ₹63 crore in the previous fiscal year. Revenue increased significantly to ₹3,207 crore from ₹2,709 crore in FY25, demonstrating robust growth across the bank's operations. Customer balances rose 26% to ₹4,612 crore, indicating strong deposit mobilization and customer trust. The bank has expanded access to formal banking services across the country, while emerging as the country's second-largest mobile bank and UPI Autopay player, positioning itself as a key player in India's digital financial services ecosystem. The RBI has granted in-principle approval to Fino Payments Bank to convert into a small finance bank, while this year the regulator cancelled the licence of Paytm Payments Bank.
