The United States on Feb 23 nominated Indian-American Ajay Banga to lead the World Bank. Exuding confidence in Banga, President Biden announced that the White House is nominating ex-Mastercard CEO as World Bank head. The Indian-origin and Padma Awardee is currently serving as the vice-chairman at private equity firm General Atlantic. President Biden also said that Banga has a critical experience mobilizing public-private resources to tackle the challenges of current scenario. The decision came after David Malpass, the current President of the World Bank announced his plans to step down.