US. Nominee World Bank Ajay Banga is  an Indian-born American business executive , has been nominated by President Biden for world bank President responsibility with his statement “Ajay is uniquely equipped to lead the World Bank at this critical moment in history. He has spent more than three decades building and managing successful, global companies that create jobs and bring investment to developing economies, and guiding organizations through periods of fundamental change. He has a proven track record managing people and systems, and partnering with global leaders around the world to deliver results.
 
He also has critical experience mobilizing public-private resources to tackle the most urgent challenges of our time, including climate change. Raised in India, Ajay has a unique perspective on the opportunities and challenges facing developing countries and how the World Bank can deliver on its ambitious agenda to reduce poverty and expand prosperity.”

Professional life

Over the course of his career, he has served as an advisor to governments, companies and organizations of all kinds, advocating for partnership and systems that deliver on profit and purpose. Currently Ajay serves as Vice Chairman at General Atlantic. Previously, he was President and CEO of Mastercard, leading the company through a strategic, technological and cultural transformation.

Ajay Banga Education

He completed his primary education from Hyderabad Public School, Begumpet, and  St. Edward’s School, Shimla, and after his schooling, he took admission in the renowned, St. Stephen’s College, Delhi and completed his graduation with a Bachelor of Arts in Economics. For pursuing his PGP which is equivalent to MBA, he went to the most prestigious College in India, “IIM( Indian Institute of Management)”, Ahmedabad.

His contribution to economic world

He is a co-founder of The Cyber Readiness Institute, Vice Chair of the Economic Club of New York and served as a member of President Obama’s Commission on Enhancing National Cybersecurity. He is a past member of the U.S. President’s Advisory Committee for Trade Policy and Negotiations.

Learning stage of US. Nominee World Bank Ajay Banga

Beginning his business career as a management trainee with Nestlé in 1981Banga spent the next 13 years working in jobs spanning sales, marketing, and general management. He later joined PepsiCo and was involved in the launch of its international fast food franchises, including Pizza Hut and KFC,in India as the economy liberalized.

Opportunities Captured By

US. Nominee World Bank Ajay Banga

Everyone gets opportunities in life some make them and some let them go Banga joined Citigroup, 1996–2009where he briefly served as a debt collector as part of his training. In 2008  Banga became chief executive of the bank’s Asia-Pacific business, and splitting time between New York and Hong Kong. During his tenure he gave major major reorganization of Citigroup’s Asian operations and in reward Citigroup, making him one of the firm’s highest paid executives that year

Mastercard, 2010–2021 He was at the responsibility of CEO and during his tenure Banga tripled revenues, increased net income sixfold and grew market capitalization from under $30 billon to more than $300 billion. In 2020, he announced the creation of the Priceless Planet Coalition, a group of about 100 firms that make corporate investments to preserve the environment, and launched Mastercard’s pledge to plant 100 million trees.

Awards Of US. Nominee World Bank Ajay Banga

Ajay was awarded the Foreign Policy Association Medal in 2012, the Padma Shri Award by the President of India in 2016, the Ellis Island Medal of Honor and the Business Council for International Understanding’s Global Leadership Award in 2019, and the Distinguished Friends of Singapore Public Service Star in 2021.

Personal life Of US. Nominee World Bank Ajay Banga

Ajay Banga was born on November 10, 1959, in Khadki cantonment, Bombay State, India (now in Maharashtra), into a Sikh family. His family is originally from Jalandhar, Punjab. His father, Harbhajan Singh Banga, is a retired lieutenant-general who served in the Indian Army. He is the younger brother of businessman M. S. Banga . Ajay Banga wife is Ritu banga whom he met during his post-graduation (MBA) from IIMA. Couple his blessed with two daughter Aditi Banga  andJojoBanga.  JojoBanga graduated from Harvard University, whereas Aditi Banga works for Instagram and also attended that institution.

Net worth Of US. Nominee World Bank Ajay Banga

Ajay Banga, who’s set to be World Bank’s head, used to earn over Rs 5 million per day

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FAQ

Q1. When was Ajay welcomed by President Joe Biden’s nomination to lead the World Bank?

Ans: Ajay received President Joe Biden’s nomination to lead the World Bank on 23 February 2023.

Q2. Where was Ajay born?

Ans: Ajay was born in the Khadki cantonment of Pune, in the state of Bombay which is now known as Mumbai.

Q3. What is the full name of US. Nominee World Bank Ajay Banga ?

Ans: Ajay’s full name is Ajaypal Singh Banga.

Q4. US. Nominee World Bank Ajay Banga Education and professional skill?

Ans: Ajay’s has been graduated with humanities in economics and Post Graduation MBA  from IIM Ahmedabad.

Q5. Who is US. Nominee World Bank Ajay Banga  wife ?

Ans: Ajay’s wife Mrs. Ritu Banga , She earned her bachelor’s degree in Economics from Lady Shri Ram College For Women in 1979 and attended the Indian Institute of Management Ahmedabad for her MBA degree. Ritu Banga is a generous donor in the health and medical sector.