In his new post, Bansal will be responsible for overall financial strategy, including corporate financial planning, budgeting, supply chain management, and treasury management. He will report to and work closely with the fintech’s MD and CEO, Anubrata Biswas, and will also be a member of the company’s executive committee. Prior to joining Airtel, he worked as the Vice President of Financial Planning and Analysis at MasterCard India.
Anuj Bansal, a former executive with MasterCard India, has become Airtel Payments Bank’s chief financial officer, or CFO, this time around.
Bansal, as revealed by the company’s release, will be responsible for the strategic planning of the finances, which comprises strategic financial planning and budgeting, inventory management, and treasury management, inclusive.
He will report to Zeebom Biswas, the MD and CEO of the fintech, and will also be a part of the executive committee.
Over the course of 23 years, Bansal has amassed substantial knowledge on these key aspects of management: finance and accounting, investor/client relations, business planning and strategy development, international financial operations, and the formation of treasury activities.
He brings more than 15 years of diversified experience in finance, including being the Vice President of FP&A (Financial Planning and Analysis) at MasterCard India. In the same way, he collaborated with Max Life Insurance, Aviva, Life Insurance, and Royal Enfield, to mention a few.
Biswas pronounced that AirTel Payments Bank would soon see the company’s area penetration in all the business lines of work and also advance in depth and breadth of its personnel. Notably, Anuj’s functional expertise, boosted by a range of different industries with relevant subject knowledge, will be critical in strengthening the bank’s niche in India.
Bansal’s appointment comes at a time when the company is increasing its product portfolio. Last year, the financial startup collaborated with IDEMIA, a biometric solutions supplier, and Nokia parent HMD Global to build an offline system for conducting digital rupee payments via feature phones.
The Bharti Airtel subsidiary reported a record revenue of INR 400 crore in Q1 FY24, up 41% year on year (YoY), aided by increased adoption of its digital solutions. The company reported a 143% YoY increase in earnings for the quarter but did not disclose the amount.
In addition, his hiring comes shortly after the RBI tightened its grip on fintech companies.
For example, the central bank recently directed Paytm Payments Bank to suspend operations and refuse to accept deposits due to non-compliance with regulatory laws.
