Mastercard India Appoints Former SBI Head, Rajnish Kumar, as Chairman

New Leadership for Mastercard India

In a significant development, Mastercard India has appointed Rajnish Kumar, the former Chairman of the State Bank of India (SBI), as its non-executive chairman.

This appointment is a strategic move aimed at leveraging Mr. Kumar's extensive experience and insights to guide Mastercard India's executive leadership team.

Rajnish Kumar's Role

In his capacity as non-executive chairman, Rajnish Kumar will play a crucial advisory role. He will provide guidance to Mastercard India's South Asia executive leadership team, led by Gautam Aggarwal, Division President for South Asia & Country Corporate Officer, India. Kumar's vast knowledge of the financial sector and his leadership acumen are expected to be invaluable in navigating India's dynamic payments landscape.

Mastercard's Vision for India

Mastercard India is committed to enhancing its domestic presence and fostering strategic collaborations across the payments ecosystem.

With Rajnish Kumar's appointment, the company aims to strengthen its foothold in the country while continuing to build partnerships with various stakeholders, including banks, fintech companies, government bodies, non-profit organizations, and more.

Ari Sarker's Perspective

Ari Sarker, President, Asia Pacific, Mastercard, expressed his confidence in Kumar's role, emphasizing his involvement in expanding the local leadership team and driving Mastercard's commitment to the Indian payments landscape.

Rajnish Kumar's Statement

Rajnish Kumar acknowledged Mastercard's focus on inclusive growth and its potential to contribute significantly to India's payments technology sector. He highlighted the company's technologies, capabilities, resources, and commitment to furthering progress and prosperity in the country.

About Mastercard India

Mastercard India is dedicated to advancing payment technology and solutions in India. With a strong focus on collaboration and growth, the company aims to contribute significantly to India's vibrant payments landscape.

Who is Rajnish Kumar former SBI head

Rajnish Kumar is a former Indian banker. He served as the Chairman of the State Bank of India (SBI) from 2017 to 2020. He is a veteran banker with over 40 years of experience in the banking industry.

He has held various leadership roles in SBI, including Managing Director of SBI Capital Markets Limited, Chief General Manager of SBI's International Banking Group, and Chairman of SBI Life Insurance Company.

During his tenure as the Chairman of SBI, Kumar helped to transform the bank into a digital-first bank. He launched the YONO platform, which is a digital banking platform that allows customers to access a variety of banking services through their mobile phones.

He also helped to expand SBI's reach into rural areas and to improve the bank's financial performance.

After his retirement from SBI, Kumar joined the board of directors of several companies, including Mastercard India, HDFC Bank, and Infosys. He is also the author of the book "Build, Don't Talk: The Power of Strategic Execution".

Key achievements of Rajnish Kumar as the Chairman of SBI:

• Launched the YONO platform, a digital banking platform that allows customers to access a variety of banking services through their mobile phones.

• Helped to expand SBI's reach into rural areas.

• Improved the bank's financial performance.

• Reduced the bank's non-performing assets (NPAs).

• Strengthened the bank's risk management framework.

• Increased the bank's focus on innovation.

Rajnish Kumar is a respected figure in the banking industry. He is known for his strong leadership, his commitment to customer service, and his focus on innovation. He is a valuable asset to Mastercard India and will help the company to further expand its presence in India.