New World Bank President

• David Malpass, the former World Bank President resigned before his term was completed due to climate-related controversies. 

• After his resignation, US President Joe Biden recently nominated the former Master Card CEO Ajay Banga as the new World Bank President. 

• Ajay has expertise in handling climate change-related economic issues.

• He is now serving as the Vice Chairman of General Atlantic, a private firm. 

• His business experience with the master card is more than 30 years. 

• He is the first Indian-born nominee to serve at the World Bank. 

• With the recent FBI reports talking about the hate crimes against Sikhs in the country, the US’s political decision on choosing Ajay Banga as the head of the key organization is commendable.