Ajay Banga, CEO Mastercard Goes Back to Roots; Visits St Stephen’s College After Three Decades

Mr. Ajay Banga’s visit to St. Stephen’s College three decades after his graduation was a poignant moment; a return to the roots of his alma mater which shaped him into the leader he is today.

Mr. Ajay Banga, CEO, Mastercard at a special dialouge session at St Stephen's College, Delhi

In a freewheeling chat with his fellow Stephanian Mr. Amitabh Kant, CEO, Niti Aayog, Mr. Banga touched upon many topics, ranging from his time as a student to gender parity to India’s economy.

Ajay Banga (R) with his old friend Mr. Amitab Kant both studied Economics at St. Stephen’s College

Mr. Banga credited the college with instilling many crucial attributes which help him as Mastercard’s CEO – calculated focus, decision making and simplicity in communication among them.

According to him, globalisation enabled by technology was the only way to break India’s demographic inequalities and address issues in healthcare and education. Praising the efforts of the government, he said the Indian economy would benefit from labour reform which converts workers into the formal economy.

It all comes #BackToRoots, however; in his words, “primary education and individualised learning are key to realising India’s potential.”

The key mantras for success shared by Mr. Banga are listed below:

• Primary education and individualised learning are key to realising India’s potential

• Calculated focus, decision making, and simplicity in communication are key for a leader

• Globalisation and technological disruptions can help break India’s demographic dividend

• Indian economy needs labour reform, workers need to be converted to formal economy to democratise productivity

• Demonitisation and digitisation are the right way to start on this path

• Indian higher education system is fine, we need to fix primary education

About MasterCard

MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone.

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