Chairman of Mastercard India – Rajnish Kumar, a banking industry veteran and former State Bank of India (SBI) Chairman, has been appointed Chairman of Mastercard India, the payments technology company announced on Thursday. Kumar’s role will be non-executive advisory, but crucial, according to the corporation.
Rajnish Kumar will lead Mastercard’s South Asia executive leadership team, which will be managed by Gautam Aggarwal, Division President for South Asia and Country Corporate Officer for India.
The seasoned banker has nearly four decades of SBI experience. He held numerous senior positions at the bank, supervising vital operations in India, the United Kingdom, and Canada. He is also largely acknowledged for being the driving force behind the YONO platform. In October 2020, he will complete his three-year term as SBI Chairman.
Chairman of Mastercard India
While his specialty is in corporate credit and project finance, Rajnish Kumar also serves on the boards of various corporations, including HSBC Asia Pacific, L&T, and Brookfield Property Management. He also serves on the boards of BharatPe and the MDI, Gurgaon, a premier management institute.
Rajnish Kumar, according to Sarker, will be involved in supplementing the local leadership team’s efforts to extend their domestic footprint, as well as strengthening Mastercard’s continuous commitment to creating strategic collaborations with partners across the payments ecosystem.
“I am excited to share 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,” Rajnish Kumar said. Mastercard, with its unwavering commitment to collaborating for development and generating prosperity via inclusive growth, has the technologies, capabilities, resources, and heart to make a significant contribution to India’s thriving payments technology ecosystem.”