Mastercard India Appoints Former SBI Chief Rajnish Kumar As Chairman

Mastercard India has appointed Rajnish Kumar, the former leader of State Bank of India (SBI), as its chairman in a non-executive advisory role.

Kumar will guide Mastercard’s South Asia executive leadership team led by Gautam Aggarwal, Division President for South Asia & Country Corporate Officer, India, in navigating the domestic payments landscape, Mastercard said in a statement.

“Kumar will be keenly involved in augmenting the local leadership team in its efforts to expand our domestic footprint, while bolstering Mastercard’s ongoing commitment to forging strategic partnerships with stakeholders across the payments ecosystem – from banks to fintechs to governments, non-profits and more,” said Ari Sarker, President, Asia Pacific, Mastercard.

“I am keenly looking forward to sharing my knowledge, experience, and expertise with Mastercard as the company becomes an even more deeply embedded player and strategic partner to organizations across the public and private sectors in India,” said Rajnish Kumar, Chairman, Mastercard India.

Kumar has nearly four decades of service with the largest lender in the country and has held a wide range of leadership roles at SBI and its subsidiaries across India, United Kingdom and Canada. He has also spearheaded the development of SBI’s digital platform YONO, it said.

Kumar also holds several directorships, including seats on the boards of many institutions and corporates like HSBC Asia Pacific, L&T, and Brookfield Property Management. He also chairs the Board of BharatPe and Board of Governors of leading management institute MDI, Gurgaon.