Ajaypal Singh Banga, the President of the World Bank, has been recognized as one of Time magazine's 100 most influential individuals globally. US Treasury Secretary Janet Yellen, in her profile of Banga, lauded his leadership abilities and his efforts to advance the global economy during his tenure as CEO of Mastercard. Yellen highlighted Banga's role in expanding access to digital financial services for millions of people.
Banga's presidency at the World Bank began on June 2 after he was elected by the institution's 25-member executive board in March of the previous year. His leadership at the World Bank has been characterized by a commitment to eradicating poverty and fostering sustainability. He has introduced innovative financial instruments and forged new partnerships across multilateral development banks and with the private sector.
Before assuming his role at the World Bank, Banga held several distinguished positions, including Vice Chairman at General Atlantic and President and CEO of Mastercard for 11 years. His career trajectory began at Nestle SA, and he later held leadership positions at PepsiCo Inc and Citigroup, where he oversaw international consumer operations and the Asia-Pacific region, respectively.
Banga's upbringing as the son of an Indian Army officer in Pune's Khadki cantonment instilled in him values of discipline and adaptability. He received his education from Delhi University and the Indian Institute of Management, Ahmedabad. Throughout his career, Banga has been recognized for his contributions to trade and industry, receiving accolades such as the Padma Shri from the Indian government in 2016 and the Foreign Policy Association Medal.
Time magazine's annual list of the 100 most influential individuals celebrates individuals from diverse fields, including arts, leadership, innovation, and sports. Alongside Banga, notable figures such as Bollywood actor Alia Bhatt, Olympian wrestler Sakshi Malik, Indian-origin Microsoft CEO Satya Nadella, and Indian-origin British actor-director Dev Patel have also been featured on the list.
