New Delhi: Airtel Payments Bank on Monday announced a leadership transition, with Sunil Bharti Mittal set to step down as Non-Executive Chairman and from the Board, effective September 30, 2026. 

Shabnam Sinha, currently an Independent Director on the bank’s Board, will assume the role of Chairperson for a three-year term from October 1, 2026. Her appointment has been approved by the Board and the Reserve Bank of India (RBI).

"Airtel Payments Bank Limited, one of India’s fastest-growing digital banks, today announced a leadership transition as Sunil Bharti Mittal concludes his tenure as Non-Executive Chairman and steps down from the Board, effective September 30, 2026," it said in its exchange filing.

"Shabnam Sinha will assume the role of Chairperson of Airtel Payments Bank Limited for a three-year term beginning October 1, 2026, following her appointment by the Board and approval by the Reserve Bank of India (RBI)," it added.

Commenting on her appointment, Sinha said she looked forward to working with the Board and management team to build on the bank’s momentum, drive its next phase of growth and expand its impact for customers, partners and communities.

"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," she stated.

According to the bank, she brings more than three decades of leadership and board experience across development finance, financial services, public policy and institutional transformation.

Her professional career includes a stint with 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. Under his leadership, the bank said it grew into India’s largest payments bank by revenue, with operations spanning consumer and enterprise businesses.

Reflecting on the transition, Mittal said it had been a privilege to serve as Chairman and expressed confidence that Sinha would build on the bank’s strong foundation and further strengthen its position as a digital banking platform.

Shares of Bharti Airtel closed at Rs 1,975 on Monday, down 0.86 per cent, or Rs 17.10, from the previous close.