Indian-origin Ajay Banga takes over as World Bank President

Indian-origin Ajay Banga takes over as World Bank President

Daily Current Affairs   /   Indian-origin Ajay Banga takes over as World Bank President

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Category : International Published on: June 06 2023

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  • Indian-origin Ajay Banga started his five-year term as the 14th President of the World Bank today, replacing David Malpass On June 2.
  • Banga has become the first-ever Indian-American to head the World Bank.
  • The 63-year-old is the first-ever Indian-American to head the global financial institution. 
  • He was nominated for the role by US President Joe Biden.
  • An alumnus of St Stephen's College and IIM Ahmedabad, Banga was previously the CEO of Mastercard.
  • Banga most recently served as Vice Chairman at General Atlantic.
  • While Banga is a US citizen and was President Joe Biden’s pick for the job, he was until 2007 an Indian national, and was in 2016 conferred the Padma Shri.
  • He was the Honorary Chairman of the International Chamber of Commerce, serving as Chairman from 2020-2022.
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