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Last updated on March 6th, 2023 at 10:13 am

Indian-American industrialist and business manager Ajay Banga has been nominated by US President Joe Biden to be the next manager of the World Bank. It is a proud moment for Indians. If he is elected to this position, it will be a significant achievement. The way people of Indian origin are being appointed to various posts around the world shows the talent of Indians. Today in this article, we are going to share various information about Ajay Banga like-Early Life, Net Worth, Age, Wife, Career, Education, Family, and 10 facts to know. So read the article till the end 


Ajay Banga Biography 2023: Early Life, Net Worth, Age, Wife, Career, Education, Family and 10 Facts to Know


Ajay Banga Biography 2023

Indian-American businessman Ajay Banga has been nominated by the US as the next World Bank manager, according to US President Joe Biden.

Banga is an Indian origin from Khadki Cantonment in Pune, India, and is an executive in the business.

Ajay Banga, if elected to the post, will become the first Indo-American to head either of the two major international financial institutions, the International Monetary Fund or the World Bank.

 Ajay Banga, an Indian-American businessman, has been nominated by the US to manage the World Bank, according to President Joe Biden, who said it is a historic moment.

If Ajay Banga is approved by the Board of Directors of the World Bank, Banga will be the first person who is born in India and the first Indian candidate to be nominated for the post of President of the World Bank.

Banga is the first Indian-born candidate for the post of President of the World Bank. If elected, he will replace Donald Trump-era appointee David Malpass, who will step down in June 2023.

Former Mastercard CEO Ajay Banga was announced as the United States’ candidate for President of the World Bank on 23 February.

Banga is “uniquely prepared to lead the World Bank at this important historical moment”, US President Joe Biden said in a statement, adding that he has “the skills to address the world’s most pressing challenges at this time”. public commitment”. Significant experience in mobilizing private resources, including climate change.”

Janet Yellen (Treasury Secretary) said of Banga’s experience “leading the World Bank to effectively reduce extreme poverty and expand shared prosperity while pursuing critical changes.” this will definitely help in achieving the objectives of the Bank). Most importantly, it also includes meeting “ambitious targets for climate adaptation and carbon reduction”.


Name Ajay Banga
Full Name Ajaypal Singh Banga
Born 10 November 1960
Birthplace in Khadki, a small town near Pune, Maharashtra
Age 63 Year
Father’s Name Harbhajan Singh Banga
Mother’s Name Jaswant Kaur
Marital Status Married
Wife’s Name Ritu Banga
The names of the children Two children, Jojo Banga and Aditi Banga.
Brother Manvinder Singh Banga
Citizenship American
Primary Education Hyderabad Public School,
Higher Education Bachelor of Arts in Economics – Begumpet, St. Stephen’s College, MBA IIM, Ahmedabad
Religion Sikh
Profession An executive in the business world
In Limeligh Nominee for the next manager of the World Bank
Net wort $1.2 Billion  

Childhood and early life, Education

Ajaypal Banga was born in a Sikh family in 1960 in Khadki, a small town near Pune, Maharashtra. His mother was Jaswant Kaur and his father was Harbhajan Singh Banga, his father served as an officer in the Indian Army.

Jalandhar is the native place of the Banga family but due to the nature of his father’s profession he had to travel a lot and he spent most of his youth in army bases in various parts of India, due to which there was no special school where he studied He was transferred to various schools starting from Secunderabad, Jalandhar, Delhi, Hyderabad and finally completed his schooling in Shimla.

He completed his primary education at Hyderabad Public School, Begumpet, and after his schooling, he joined the famous St. Stephen’s College and completed his graduated with a Bachelor of Arts in Economics. To pursue his PGP equivalent to MBA, he went to India’s most prestigious college, “IIM (Indian Institute of Management)”, Ahmedabad. He also has an elder brother named Manvinder Singh Banga, who is a businessman.


The Net worth of Ajay Banga

According to various sources, Banga has an estimated net worth of $1.2 billion, his source of income being his successful business career. Banga has been recorded as the No. 1 wealthiest creator of “Wealth Creators Magazine”..

Age of Ajay Banga

Ajaypal Singh Banga was born on 10th November 1959 and he is 63 years old now. He was born in Khadki Cantonment, Pune, India, and is an executive in the business world.

Ajay Banga’s family

Banga’s ancestors are from the city of Jalandhar in Punjabi. Banga’s father, Lieutenant General Harbhajan Singh Banga (retd), served in the Indian Army. That businessman M.S. Banga has a younger brother who is also known as the CEO of equity fund Clayton Dubilier Rice.

Ajay Banga’s wife & Kids

Banga is married to Ritu Banga and they have two children, Jojo Banga, and Aditi Banga.

The career of Ajay Banga

In 1981, he got a job at Nestle and started his professional career. He worked there for the next 13 years. Later, he joined PepsiCo, where he worked for a while and helped build franchise fast-food restaurants in India.




Let us tell you that Banga is currently working as the Vice Chairman of General Atlantic. Prior to that, he led the industry through a strategic, technological, and cultural revolution as President and CEO of Mastercard.

He is the Honorary President of the International Chamber of Commerce, serving from 2020 to 2022. Banga has previously held key positions on the boards of Dow Inc., Kraft Foods, and the American Red Cross. Ajay has also collaborated extensively with US Vice President Kamala Harris as co-chair of the Partnership for Central America.

10 facts about Ajay Banga you should know

1-Banga is the first Indian-born candidate for the post of President of the World Bank. If appointed to the position, Banga will replace the current president, David Malpass, who was appointed when Donald Trump announced a few weeks ago that he would step down as World Bank President in June.

2-Banga, currently a vice chairman at private equity firm General Atlantic, has more than 30 years of business experience, having worked with Mastercard and the American Red Cross, Kraft Foods and Dow Inc. Has served in various roles on the Board of He has also worked with Citigroup. , PepsiCo, and Nestlé, among others.

3-Let us tell you that in December 2021, he retired as the CEO of MasterCard, where he served as the head for 12 years. Under Banga’s leadership, the company aims to bring the world’s 1 billion people and 50 million micro and small businesses into the digital economy by 2025.



4-Banga also serves as co-chair of the Partnership for Central America – a coalition of private sector organizations – where he worked with US Vice President Kamala Harris to mobilize public, private, and non-profit resources for northern Central America. Worked together.

5-Banga is an experienced person, he has a long experience working closely with the US government. In February 2015, he was appointed by then-President Barack Obama as a member of the President’s Advisory Committee for Trade Policy and Negotiations.

6- Now an American citizen, Banga’s early life was spent in India. He was born on 10 November 1959 in Pune, in the western state of Maharashtra. His father, Harbhajan Singh Banga, served in the Indian Army and retired as a lieutenant general.

7- In terms of educational background, Banga holds a Bachelor of Arts degree from St. Stephen’s College, New Delhi, and a PGP in Management, which is equivalent to an MBA, from the prestigious Indian Institute of Management (IIM), Ahmedabad.

8- Apart from being recognized for his work in America, Banga has also been honored in India. The Government of India honored him with the Padma Shri, the fourth highest civilian honor, in 2016.

9- As reflected in Biden’s statement, Banga’s nomination to head the World Bank aims to bring climate change to the center of the poverty-reducing agency of 189 countries. Banga is known for publicly voicing his concern over the challenge of tackling climate change. Mastercard, during his tenure as CEO, led the initiative to form the Priceless Planet Coalition in 2020 – a group of nearly 100 companies that committed to making corporate investments to prevent environmental degradation.

10- Banga is also a strong advocate of stronger ties between India and the US. In 2019, he said that the Indo-US strategic partnership is a kind of “grand alliance” that the world needs, adding that the “two largest democracies” can bring about positive change in the world. On Indian Prime Minister Narendra Modi, Banga said in 2014 that “he is taking the right steps”, and that “if he (Modi) implements them, India will be on a different development path”.



What can we learn from his life?

Always try to find the solution:- 

Sometimes it seems difficult and sometimes the situation becomes unfavorable. Ajaypal says he has learned from his superiors to eventually find solutions. If one is dedicated enough and ready to put in the effort then he/she will take the help of unorthodox methods which may sound a bit wild but eventually, he/she will find the solution. This is the quality of hardworking.

A leader is always a student first, it is important to keep learning. Open your eyes, look around, listen to others, and learn from them. If you fail learn from it, if you succeed learn from it.

Work-Life balance

He always said that there should be a balance between professional life and personal life. No matter how busy you are with your profession, you have to give time to the people who care about you. Being in such a prestigious and high position, he always maintained a work-life balance.

Communication is the key:-

Ajaypal has been invited to address people on many shows and platforms because of his ability he has been able to do. Communication is needed everywhere. In professional and non-professional life we should know how and in what manner we should express our thoughts and imagination and perception effectively and precisely. We should learn this art from them.

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