Indian-origin Ajay Banga takes over as World Bank President

Indian-origin Ajay Banga started his five-year term as the 14th President of the World Bank today, replacing David Malpass. The 63-year-old is the first-ever Indian-American to head the global financial institution. He was nominated for the role by US President Joe Biden. An alumnus of St Stephen's College and IIM Ahmedabad, Banga was previously the CEO of Mastercard.