MasterCard appoints former SBI chief Rajnish Kumar as chairman

Veteran banker will have non-executive advisory role and guide Mastercard's South Asia executive leadership team

Mastercard India on Thursday 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 and country corporate officer, India, "in navigating the vibrant domestic payments landscape", said the company about the appointment in a press statement.

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.

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Kumar said about his statement: “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.

“With its relentless focus on partnering for progress and driving prosperity through inclusive growth, Mastercard has the technologies, capabilities, resources, and heart to contribute greatly to India’s vibrant payments technology landscape. It is my honor to share Mastercard’s story and its enthusiasm for collaboration with local partners with an even bigger audience in India,” said Kumar, who was SBI chairman from October 2017 to October 2020.

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