2023
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Reserve Bank of India
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State Bank of India
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Asian Development Bank
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World Bank
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Detailed explanation-1: -Ajay Banga, who is of Indian origin, has been officially selected as the 14th President of the World Bank. The 25-member executive board of the World Bank elected Ajay Banga, who previously served as the CEO of Mastercard, to hold the position for a period of five years, starting from June 2.
Detailed explanation-2: -Malpass will step down from his role on June 1, 2023, and Banga will take over as the new World Bank President from June 2, 2023. Reportedly, Malpass was earning $525, 000 in net salary as of 2021, and his contract allows him a pension measuring up to about 70 percent of his salary since April this year.
Detailed explanation-3: -The organizations that make up the World Bank Group are owned by the governments of member nations, which have the ultimate decision-making power within the organizations on all matters, including policy, financial or membership issues.