NEW YORK (Diya TV) — MasterCard CEO Ajay Banga has been appointed to fill the vacancy as co-chair of the American India Foundation (AIF), a functioning non-profit organization dedicated to accelerating social and economic change in India.

“Ajay Banga, President and Chief Executive Officer of MasterCard, has graciously accepted our invitation to join the AIF Board of Directors and has further agreed to serve as a co-chair of the Board, bringing immense experience and passion in US-India relations and business,” Lata Krishnan, co-founder and co-chair of the AIF said in a statement.

Kirshnan further opined that Banga’s talents were recognized as something which could help propel the AIF into their next phase of development.

“Ajay Banga is a singular talent whose personal and professional strengths promise to catalyze AIF to a whole new level,” Kirshnan said. “We are deeply grateful for Ajay’s friendship and look forward to his contributions in strengthening AIF’s presence in the U.S. and India.”

In addition to his role at MasterCard, Banga is also a member of President Barack Obama’s Advisory Committee for Trade Policy and Negotiations. Additionally, he recently completed the longest tenure of any chairman, while serving US-India Business Council, and is also a member of the US-India CEO Forum.

Shortly before his announced appointment, Banga was honored by the President of India, when he was selected for the Padma Shri. “Look forward to working with Lata and the entire AIF team as they continue to drive social and economic inclusion in India and build an even stronger bridge between the United States and India,” Banga said of his appointment.

“I’ve seen the impact organisations like this can have on empowering individuals to live more productive lives. With the current pace of change, it’s an exciting time to be joining this group,” he added.