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Ajay Banga will be the World Bank’s new President
Ajay Banga will be the World Bank’s new President: Biden was nominated and will serve for five years. Born in Pune, he earned his MBA in Ahmedabad.
Ajay Banga, of Indian origin, has been elected as the World Bank’s new President. On June 2, he will take office. His term will be for five years. He was nominated for the position by US President Joe Biden.
Ajay Banga was born in Pune on November 10, 1959. Harbhajan Singh Banga’s father was a lieutenant general in the Indian Army. He attended school in Jalandhar and Shimla. He received his bachelor’s degree from DU and his MBA from IIM Ahmedabad. He was also awarded the Padma Shri by the Government of India in 2016.
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Banga, the former CEO of MasterCard, will be the World Bank’s first person of Indian origin to serve as President. Banga, an Indian-American, is the vice chairman of the General Atlantic private equity fund.
Played a significant role in the establishment of Pizza Hut-KFC in India.
Ajay Banga is part of the Indian-American generation that studied in India before proving their worth in America. His life is one of struggle, struggle, and success. After finishing his studies, he joined Nestle India as a Management Trainee in 1981 and rose through the ranks to become a Manager in 13 years.
He later joined PepsiCo’s restaurant division. During this period of liberalisation, Banga was instrumental in the introduction of Pizza Hut and KFC to India.
Fortune’s 2012 Most Powerful Entrepreneur
In 1996, Ajay Banga was appointed as Citigroup’s marketing director. In 2000, he was named CEO of Citi Financial. In 2009, he was appointed CEO of Mastercard, and his marketing strategy helped to make the company so popular among young people that it became a status symbol. In 2016, Banga was also awarded the Padma Shri.
Banga was named a ‘Powerful Industrialist-2012’ by the prestigious magazine Fortune in 2012. He is Manvinder Singh Banga’s brother, the former chairman of Hindustan Unilever.
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According to Biden, he is the most qualified to lead the World Bank.
Ajay Banga has spent more than three decades building and managing global companies, according to Biden. These are the companies that have increased employment as well as the economy. Ajay Banga is also said to be the most qualified person to lead the World Bank at this historic time.
