Mastercard India has announced the appointment of seasoned banker Rajnish Kumar as its new Chairman, effective September 14. This notable appointment marks a significant milestone in the financial sector, as Rajnish Kumar brings a wealth of experience and expertise to this role.
Rajnish Kumar’s impressive track record includes serving as the Chairman of the State Bank of India (SBI), the largest public sector bank in India. His extensive experience in the banking industry positions him well to guide Mastercard India in navigating the complex and dynamic domestic payments landscape.
In his capacity as Chairman of Mastercard India, Rajnish Kumar will assume a critical non-executive advisory role. He will work closely with Mastercard’s South Asia executive leadership team, led by Gautam Aggarwal, who serves as the Division President for South Asia & Country Corporate Officer, India. Together, they aim to drive digital payments adoption and acceptance in the Indian market, aligning with the government’s Digital India vision.
Ari Sarker, President of Asia Pacific at Mastercard, expressed his confidence in Rajnish Kumar’s appointment, highlighting the invaluable contributions he is expected to make. “Under Kumar’s essential supervision, Mastercard will endeavor to expand market acceptance and implementation of digital payments while continuing to actively promote the government’s ambition for a “Digital India,” added Sarker.
In response to his appointment, Rajnish Kumar expressed his enthusiasm for this new role. He emphasized his commitment to sharing his knowledge, experience, and expertise to strengthen Mastercard’s position as a strategic partner to organizations across the public and private sectors in India.
In addition to his role at Mastercard India, Rajnish Kumar holds the position of Chairman on the Board of Indian fintech company BharatPe. Additionally, he is a member of the boards of many eminent organizations and businesses, including Brookfield Property Management, L&T, and HSBC Asia Pacific. At the prestigious management institution MDI, Gurgaon, he also serves as board chair.
Rajnish Kumar’s appointment underscores Mastercard’s dedication to partnering for progress and promoting inclusive growth in India’s payments technology landscape. With his leadership and Mastercard’s resources, the company is well-positioned to contribute significantly to India’s dynamic and vibrant financial ecosystem.