New Delhi [India], August 17 (ANI): Shabnam Sinha will take over as Chairperson of Airtel Payments Bank for a three-year term from October 1, 2026, succeeding Sunil Bharti Mittal, the bank said on Monday.

Mittal will conclude his tenure as Non-Executive Chairman and step down from the Board with effect from September 30, 2026. Sinha's appointment has been approved by the Reserve Bank of India (RBI) following her appointment by the Board, according to a statement issued by Airtel Payments Bank.

Sinha currently serves as an Independent Director on the Board of Airtel Payments Bank. She chairs the Special Committee of the Board for Monitoring Frauds and is also a member of the Risk Management and IT Committees.

'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,' Sinha said.

'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,' she added.

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.

'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,' Mittal said.

'We built one of the country's largest banking networks, brought underserved communities into formal banking, and delivered a safe, digital-first experience,' he added.

According to the bank, it currently serves more than 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 across the country. The bank said its network reaches three out of four villages in India.

Sinha said she looks forward to working 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.' (ANI)