The World Bank Executive Directors have selected Ajay Banga as 14th President of World Bank, the International lender. United States president Joe Biden has confirmed the selection of this India-born American on May 03, 2023. The American President said that Mr. Ajay Banga will be a transformative leader with his expertise, experience and innovation, required at this position.
The selection of 63 years old Ajay Banga for five-year term beginning June 02, 2023. They expect him to meet the global challenges of poverty reduction along with not only climate change but also in bringing public and private sectors together with non-profit organizations.
Ajay Banga was born on November 10, 1959 in a Sikh family at Pune, Maharashtra. His father was Lieutenant- General in Indian Army. The family of Ajay Banga is originally from Jalandhar, Punjab. He went to schools in Shimla and Hyderabad, passed his Graduation with Economics Honours from Delhi and MBA from IIM, Ahmedabad.
His career started as a management trainee with Nestle in 1981. PepsiCo, Pizza Hut and KFC, Citigroup and Mastercard are the main names who used his precious services . Ajay Banga also remained chairman of International Chamber of Commerce and is enjoying his position on many corporate boards and chairmanship of various non-profit organizations.
IIT students got his insights as a keynote speaker at convocation ’2015 at Indian Institute of Management, Ahmedabad. He is also a speaker at various Fintech and Leadership conferences around the world. He has also appeared in an Investment and Speculation show hosted by Jim Cramer on CNBC.
Government of India, in 2016 awarded the civilian honor 'Padma Shri' to Mr. Ajay Banga.