Winning Bizness Desk
Mumbai.Airtel Payments Bank names Shabnam Sinha as new chairperson as Sunil Mittal completes decade-long board tenure
Airtel Payments Bank will have Dr Shabnam Sinha as its new chairperson from October 1, 2026, replacing non-executive chairman Sunil Bharti Mittal, who will step down from the board on September 30 after completing a 10-year tenure. Sinha, a former World Bank lead specialist and independent director, brings more than three decades of experience in banking, governance and digital transformation.
Sinha brings three decades of global banking experience
Sinha worked with the World Bank as a lead specialist from 2010 to 2025, where she handled projects worth more than $4 billion, or around Rs 38,000 crore, across Asia, Europe and Africa.
Before joining the World Bank, she served as CEO of IL&FS Education and worked for several years with USAID and NCERT. She currently serves on the boards of Airtel Payments Bank, Vedanta and Bharat Financial Inclusion.
Her experience spans banking, governance, financial inclusion and technology-led transformation, areas that are closely linked to the growth of digital banking in India.
Sinha says new role comes with great responsibility
Sinha said taking charge of Airtel Payments Bank was an honour, particularly at a time when digital banking is playing a key role in India's growth.
She said the bank had built a strong and trusted platform by using simple technology to take banking services to millions of people across the country.
She thanked Sunil Mittal and the board for their confidence in her.
She said she was fully prepared to take the bank to the next stage of its growth.
Mittal led bank through a decade of expansion
Mittal became chairman of Airtel Payments Bank in April 2016. During his decade-long leadership, the bank grew into the country's largest payments bank by revenue and significantly expanded its customer and banking network.
The bank now has more than 12.1 crore monthly active users and over 3 crore savings account customers. Its network includes more than 5 lakh banking points spread across three-fourths of India's villages, making it one of the country's largest banking networks.
It has also emerged as India's second-largest mobile bank and a leading player in UPI AutoPay.
Profit rises 73% to Rs 109 crore in 2026
Airtel Payments Bank reported a 73% rise in profit to Rs 109 crore in financial year 2026, compared with Rs 63 crore a year earlier. Its total revenue also increased to Rs 3,207 crore from Rs 2,709 crore.
Customer deposits also strengthened during the year, indicating growing confidence in the bank's services. The total balance held by customers rose 26% to Rs 4,612 crore.
Key numbers from the latest financial year include:
- Profit: Rs 109 crore, up 73%
- Revenue: Rs 3,207 crore
- Customer deposits: Rs 4,612 crore
- Monthly active users: over 12.1 crore
- Savings account customers: over 3 crore
- Banking points: more than 5 lakh
Payments banks focus on transactions and savings
A payments bank is a digital banking institution that can accept deposits and provide services such as money transfers, ATM or debit cards and other basic banking facilities.
However, unlike a conventional bank, a payments bank cannot provide loans to customers or issue credit cards. Its core role is to facilitate transactions, payments and savings while expanding access to formal banking services.
The change at the top comes as Airtel Payments Bank enters its next phase of expansion, with Sinha set to take over after Mittal completes his 10-year tenure on September 30.
