SBI's former chairman Rajnish Kumar joins Mastercard India as chairman

Rajnish Kumar, who has served as the chairman of State Bank of India, India's largest public sector bank, has joined Mastercard India as chairman. Kumar will guide the South Asia executive leadership team of Mastercard which is led by Gautam Aggarwal, division president for South Asia and country corporate officer, India. Kumar's mandate is to help them navigate the domestic payments landscape.

Kumar holds the position of chairman at the board of the fintech company BharatPe. He also chairs the Board of Governors of management institute MDI based in Gurgaon.

Mastercard India said in a statement, "...in this critical, 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."

“Under Kumar’s invaluable stewardship, Mastercard will seek to further digital payments adoption and acceptance in the market and continue to actively support the government’s Digital India vision in innovative and impactful ways," added Ari Sarker, President, Asia Pacific, Mastercard.

Rajnish Kumar said in the statement that he is keenly looking forward to sharing his 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.