Ajay Banga can become the new president of the World Bank

Former Mastercard CEO Ajay Banga may become the new President of the World Bank. US President Joe Wyden nominated him on Thursday. He is the first person of Indian origin to be nominated for this. He has been nominated after the current President of the World Bank, David Malpass, announced that he would step down before April 2024. The 63-year-old Indian-American is currently the vice-chairman of the private equity fund General Atlantic.
Ajay belongs to that Indian-American generation, who studied in India and proved their mettle in America. His life is a story of hard work, struggle and success. He did his schooling in Jalandhar and Shimla. Graduated from DU and did MBA from IIM Ahmedabad. He joined Nestle India as a Management Trainee in 1981 and rose to become a Manager in 13 years.
He then became part of PepsiCo's restaurant division. It was a period of liberalization when Banga played a major role in the launch of Pizza Hut and KFC in India.
In 1996, he became the marketing head of Citigroup. Appointed head of Citi Financial in 2000. Became the CEO of Mastercard in 2009 and with his marketing strategies made Mastercard so popular among the youth that it became a status symbol. Banga was also awarded the Padma Shri in 2016.
In 2012, the famous magazine Fortune selected Banga as a 'Powerful Industrialist-2012'. He is the brother of Manvinder Singh Banga, former chairman of Hindustan Unilever.
Biden said Ajay has spent more than three decades building and managing global companies. These are the companies which have boosted employment along with the economy. Also said that Ajay is the most qualified person to lead the World Bank at this historic moment.
On the other hand, while talking to the media, a senior official of the US administration said that Ajay has good experience in working on the challenge of climate change. It is these experiences and priorities that will guide his work for the World Bank in the years to come.