CURRENT AFFAIRS

Detailed explanation-1: -Rajesh Khullar (born 31 August 1963) is an Indian diplomat and executive director at the World Bank Group representing India, Bangladesh, Bhutan, and Sri Lanka.

Detailed explanation-2: -Traditionally, the World Bank Group president has always been an American citizen nominated by the United States, the largest shareholder in the World Bank Group. The nominee is subject to confirmation by the Board of Executive Directors, to serve for a five-year, renewable term.

Detailed explanation-3: -Although the board of governors has some influence on IBRD policies, actual decision-making power is wielded largely by the bank’s 25 executive directors. Five major countries-the United States, Japan, Germany, the United Kingdom, and France-appoint their own executive directors.

Detailed explanation-4: -Presently, IBRD Board consists of 25 Executive Directors. Under the IDA Articles of Agreement and the IFC Articles of Agreement, the Executive Directors of IBRD serve, ex officio, as Executive Directors of IDA and as members of the Board of Directors of IFC.