India Post Payments Bank (IPPB) has appointed Mr. Suresh Sethi, the former MD of Vodafone M-Pesa Ltd. as its Managing Director & Chief Executive Officer. Mr. Sethi had been selected by the Banks Board Bureau from amongst top contenders for the post, from both public and private sector Banking and Fintech professionals. Mr. Sethi has broad international experience of over 27 years in the Banking and Financial Services industry with Citigroup, YES Bank and Vodafone M-Pesa across India, Kenya, UK, Argentina and US. He has extensively worked in the Financial Inclusion space leveraging Fintech and digital led innovation.
His experience in the Digital & Mobile Payments space will be of great relevance to IPPB which aims to deliver financial inclusion with special focus in rural and semi-urban India and among the under-banked segments. Mr. Sethi takes over from the dynamic leadership of Mr. A.P. Singh who had been the interim MD & CEO of IPPB since January 2017.
IPPB has been incorporated as a Public Limited Company under the Department of Posts with 100% GOI equity. IPPB plans to leverage the unparalleled reach of the India Post network to achieve a Pan India roll out of 650 branches by early next year.