Rajnish Kumar, former Chairman of the State Bank of India, has been appointed as the new Chairperson of Mastercard India, a leading credit card company. In his non-executive advisory role, Kumar will provide guidance to Mastercard’s South Asia leadership team, led by Gautam Aggarwal. The focus will be on navigating the dynamic domestic payments landscape.
Ari Sarker, President of Asia Pacific at Mastercard, expressed enthusiasm about Kumar’s appointment, emphasizing his vast experience in the banking industry. Under Kumar’s leadership, Mastercard aims to advance digital payments adoption and support the government’s Digital India initiative.
Kumar expressed his eagerness to contribute to Mastercard’s role as a strategic partner in India’s public and private sectors. With a strong commitment to inclusive growth, he believes Mastercard has the technology and resources to make significant contributions to India’s payment technology landscape.
With nearly four decades of service at SBI, Kumar has held various leadership positions, both in India and internationally. Notably, he played a pivotal role in the development of SBI’s digital platform, YONO. Kumar’s term as SBI Chairman concluded in October 2020.
Additionally, Kumar holds directorships in esteemed institutions and corporations, including HSBC Asia Pacific, L&T, and Brookfield Property Management. He also serves as the Chairman of the Board for BharatPe and the Board of Governors for the leading management institute MDI, Gurgaon.
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