The White House informed on Thursday that President Joe Biden has announced that Ajay Banga, former CEO of United States Mastercard, has been nominated as the President of the World Bank. On behalf of the White House, it was said, “Indian-American business leaders are capable of leading a global organization.”
This is a particularly important moment in history.” President of the World Bank is traditionally a person elected from the US. David Malpass, the current head of the World Bank, has announced to step down soon.
Know who is Ajay Banga?
Ajay Banga’s full name is Ajaypal Singh Banga. He was born on 10 November 1959 in Khadki, Pune district of Maharashtra. His family is originally from Jalandhar, Punjab. However, he is now an American citizen. His father Harbhajan Singh Banga has been a lieutenant-general in the Indian Army. His wife’s name is Ritu Banga. His brother MS Banga holds a big position in Unilever company.
Ajay Banga has done BA Honors (Economics) from Delhi University. Apart from this, he has studied management from IIM Ahmedabad. He is currently working as the Vice Chairman of the equity firm General Atlantic. Prior to this, he has been a member of the Cyber Security Commission of America. He was also the CEO of credit company Mastercard. He has been the President of the US-India Business Council (USIBC). This company represents more than 300 of the largest international companies investing in India.
Favorite of Barack Obama
The Government of India honored Banga with the Padma Shri in 2016. Banga, who established his business in America, has also become a favorite industrialist of the government there. Former US President Barack Obama also liked him a lot. Obama made Banga a member of the Cyber Security Commission during his tenure. In 2015, he was also included in Obama’s advisory committee.
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