Arundhati Bhattacharya (60 years of age), present chairperson for State Bank of India (SBI) will be a nominee from India for the post of Managing Director (MD) and Chief Operating Officer (COO) at the World Bank
She will become the first Indian ever to hold the office if she is selected for the third most key post in the World Bank Group. She will replace the Indonesian economist Sri Mulyani Indrawati. She returned to her country as Finance Minister in July 2016. The post was vacant since then after her resignation.
Sources say that Prime Minister Narendra Modi has also given his ascent for the nomination. PMO has initiated the required procedures for this process. She will directly report to the World Bank president.
Arundhati Bhattacharya was ranked 25th in the Forbes 2016 list of ‘The World’s 100 Most Powerful Women’. This list features top female CEOs, leaders, investors, entrepreneurs, philanthropists, and scientists.
India’s former deputy chairman of the Planning Commission, Montek Singh Ahluwalia in the year 2001 was appointed as the first director of the independent evaluation office of the International Monetary Fund.
World Bank, a name that is quite commonly heard in almost every country of the globe. It is an international financial institution that provides loans. Developing and under-developed countries take loans for capital programs.
World Bank comprises of two institutions – International Bank for Reconstruction and Development (IBRD), and the International Development Association (IDA).
This is a component of the World Bank Group, which is part of the United Nations system. South Korean-born Jim Yong Kim is the 12th present president of the World Bank Group. The World Bank Group headquarters bldg. In Washington, D.C.
India stands in the top ten countries regarding the voting eligibility in various departments of the World Bank Group.