International Development Association Current Affairs - 2020
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Anshula Kant, Managing Director of State Bank of India (SBI) has been appointed as Managing Director and Chief Financial Officer (CFO) of World Bank. She will be the 1st woman CFO of World Bank. Her appointment was announced by David Malpass, World Bank’s President.
Since September 2018 she has been a Managing Director and member of the World Bank Board.
Role as CFO: While functioning her role as MD and CFO, Anshula Kant will be responsible for financial and risk management of World Bank Group and will report WB’s President.
Duties: Among other key management duties, her work will include risk management and oversight of financial reporting. She will also work closely with World Bank CEO on mobilization of International Development Association (IDA) and other financial resources. IDA is a member of World Bank Group. It is an international financial institution that offers concessional loans and grants to world’s poorest developing countries.
About Anshula Kant
She is a graduate in Economic Honours from Lady Shri Ram (LSR) College for Women, New Delhi and Post-Graduate in Economics from Delhi School of Economics.
Role in SBI:
She has held position of Chief Financial Officer of SBI. As SBI’s CFO she managed $38 billion of revenues and total assets of $500 billion.World Bank
She has more than 35 years of expertise in finance and banking sector. Stewarding SBI she greatly improved capital base and focused on long-term sustainability of organisation within her mandate.
She has held direct responsibility for SBI’s Risk, Compliance and Stressed Asset Portfolio and led creation of several investment opportunities while empowering risk management via bank.