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Rajesh Khullar Appointed as Executive Director of World Bank & Sameer Kumar Khare as Executive Director of ADB

Senior bureaucrat Rajesh Khullar appointed Executive DirectorOn September 14, 2020  The Appointments Committee of the Cabinet (ACC) headed by Prime Minister Narendra Modi approved the appointment of Rajesh Khullar as the Executive Director of  World Bank and Sameer Kumar Khare as Executive Director of Asian Development Bank (ADB).

  • Rajesh Khullar, a 1988-batch Indian Administrative Service(IAS) officer, is presently serving in his cadre state Haryana as the principal secretary to Haryana Chief Minister(CM) Manohar Lal Khattar.
  • Sameer Kumar Khare, a-1989 batch IAS officer from the Assam-Meghalaya cadre. He is presently serving as an Additional Secretary in the Department of Economic Affairs in the Ministry of Finance.

Tenure

Sameer Kumar Khare will have a tenure of 3 years until further orders or whichever is earlier. Rajesh Khullar will also have a tenure of 3 years or till the date of his superannuation(31.08.2023)or until further orders or whichever is earlier.

ADB Appointed Takeo Konishi as its new country director for India; Succeeds Kenichi Yokoyama

ADB has appointed Takeo Konishi as its new country director for India. He succeeds Kenichi Yokoyama who has taken over as director general of the South Asia department of ADB. 

i.The ADB operations and policy dialogue with the government and other development partners in India will be led by Takeo Konishi.

ii.He will oversee the implementation of ADB’s India Country Partnership Strategy, 2018-2022, that aims to support the government’s goal of faster, inclusive, and sustainable growth with rapid economic transformation and job creation.

India is 4th Largest Shareholder and Largest Borrower of ADB since 2010

i.Currently, India is the  4th largest shareholder and largest borrower of ADB since 2010.

ii.ADB since its lending operations to India in 1986, has committed 242 sovereign loans amounting to USD 44.1 billion to India.

iii.This year(2020), ADB till now has committed USD 2.2 billion in sovereign lending, including USD 1.5 billion support to the government’s immediate response to COVID-19.

iv.It is to be noted that the current portfolio of India comprises 68 projects worth about USD 13.7 billion.

Recent Related News:

i.On 29th July 2020, Paytm Money, the subsidiary of One97 Communication Ltd announced the appointment of Varun Sridhar as the New Chief Executive Officer(CEO) following the resignation of former Managing Director and CEO Pravin Jadhav.

ii.The Reserve Bank of India(RBI) has approved Sashidhar Jagdishan as the next Managing Director(MD) and Chief Executive Officer(CEO) of HDFC Bank for a period of 3 years, effective from the date of taking charge i.e., October 27, 2020 under Section 35B of the Banking Regulation Act 1949.

  • He will succeed Aditya Puri, the bank’s longest serving CEO (26 years- since September 1994). Aditya Puri will retire on October 26, 2020, on attaining the age of 70.

About Asian Development Bank (ADB):
HeadQuarters– Metro Manila, Philippines(officially the Republic of the Philippines)
President and Chairperson of ADB’s Board of Director– Masatsugu Asakawa
Members– 68 Countries