Airtel Payments Bank has appointed former MasterCard India executive Anuj Bansal as its chief financial officer (CFO).
In the new role, Bansal will be responsible for overall financial strategy, including, corporate financial planning, budgeting, supply chain and treasury management, the company said in a statement.
He will report and closely work with the fintech’s MD and CEO Anubrata Biswas, and will also be a part of the company’s executive committee.
With an experience of 23 years, Bansal’s areas of expertise include business planning, investor relations, strategy formulation, global financial operations, finance and accounting management and treasury management.
Prior joining to Airtel, he served MasterCard India as the VP financial planning and analysis. He also worked with companies, including Max Life, Aviva Life Insurance and Royal Enfield among others.
Biswas said, “Airtel Payments Bank is rapidly expanding across all its lines of business and equally so in its depth and breadth of talent. The addition of Anuj with his vast experience across different industries combined with his deep domain knowledge will play a vital role in further powering the Bank’s unique position in India.”
Bansal’s appointment comes at a time when the company has been expanding its product suite. Last year, the fintech company partnered with biometric solutions provider IDEMIA and Nokia parent HMD Global to launch an offline system for facilitating digital rupee payments on feature phones.
The Bharti Airtel subsidiary, for Q1 of FY24 reported a record revenue of INR 400 Cr, up 41% year-on-year (YoY), helped by a strong uptake of its digital offerings. The company, without disclosing the amount, had said that its profit surged 143% YoY during the quarter.
Also, his appointment comes close on the heels of RBI tightening its noose around fintech companies.
For instance, the central bank recently asked Paytm Payments Bank to halt its operations and not accept any deposits on grounds of non-compliance with the regulatory policies.
