Airtel Funds Financial institution Restricted on Monday introduced a management transition, with Shabnam Sinha set to take over from Sunil Bharti Mittal as non-executive chairperson. Mittal will step down from the Board, efficient September 30, 2026.
Shabnam Sinha will assume the position of chairperson of Airtel Funds Financial institution Restricted for a three-year time period starting October 1, 2026, following her appointment by the Board and approval by the Reserve Financial institution of India (RBI), the corporate mentioned.
Mittal, founder and chairman of Bharti Enterprises, was appointed non-executive chairman of Airtel Funds Financial institution in April 2016.
Airtel Funds Financial institution at the moment serves greater than 121 million month-to-month lively customers and practically 30 million checking account clients by means of the Airtel Thanks App and a community of over 500,000 banking factors. The community reaches three out of 4 villages throughout India.
The financial institution has expanded entry to formal banking companies and has emerged because the nation’s second-largest cellular financial institution and UPI Autopay participant. One in 5 of its rural banking factors is operated by ladies banking correspondents.
“It has been a privilege to function Chairman of Airtel Funds Financial institution and witness its journey from an accessibility-focused effort right into a trusted establishment serving thousands and thousands throughout city and rural India,” Mittal mentioned.
He mentioned the financial institution had constructed one of many nation’s largest banking networks, introduced underserved communities into formal banking and delivered a digital-first banking expertise. Mittal thanked the financial institution’s group, Board and stakeholders and expressed confidence that Sinha would construct on its basis and strengthen its place as a digital banking platform.
Sinha at the moment serves as an impartial director on the Board of Airtel Funds Financial institution. She chairs the Particular Committee of the Board for Monitoring Frauds and is a member of the Danger Administration and IT Committees.
“I’m honoured to imagine this duty at Airtel Funds Financial institution at a time when digital monetary companies have gotten the spine of India’s inclusive progress story,” Sinha mentioned.
She mentioned the financial institution had mixed know-how with accessible banking to serve thousands and thousands of shoppers and join individuals with the formal economic system. Sinha mentioned she appeared ahead to working with the Board and administration to drive the financial institution’s subsequent part of progress and increase its influence throughout the nation.
Sinha has greater than three a long time of management and board expertise spanning improvement finance, monetary companies, public coverage and institutional transformation.
Her profession features a stint on the World Financial institution, the place she suggested governments and establishments throughout Asia, Africa and Europe on governance, danger administration and operational effectiveness. She additionally has expertise in monetary inclusion, digital transformation and establishment constructing.
