Rajnish Kumar to be MasterCard chairman

Mumbai: Rajnish Kumar, former chairman of the State Bank of India (SBI), has been appointed as the chairman of Mastercard India.

In this non-executive role, Kumar will guide Mastercard’s South Asia executive leadership team led by Gautam Aggarwal, division president for South Asia.

“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,” said Ari Sarker, President, Asia Pacific, Mastercard.

Kumar will be involved in augmenting the local leadership team in its efforts to expand the payment company’s domestic footprint and help forge strategic partnerships with stakeholders across the payments ecosystem, Sarker said.

According to Kumar, Mastercard has the technologies, capabilities, resources, and heart to contribute greatly to India’s payments technology landscape.

Kumar, who was with SBI for nearly four decades, handled key operations across India and internationally. He spearheaded the development of SBI’s digital platform, YONO.

Kumar is also on the boards of corporates like HSBC Asia Pacific, L&T, and Brookfield Property Management. He also chairs the Board of BharatPe and board of governors of the management institute MDI, Gurgaon.


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