NEW YORK (TIP): MasterCard CEO Ajay Banga has been appointed as a co-chair of American India Foundation (AIF). The American India Foundation (AIF), a nonprofit organization that is devoted to accelerating social and economic change in India, is one of the leading U.S. philanthropic organization working in the U.S. and 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 American India Foundation (AIF) said in a statement.

In addition to his role at MasterCard, Banga is a member of President Obama’s Advisory Committee for Trade Policy and Negotiations. He serves on the Board of Directors of the U.S.-India Business Council (USIBC), where he recently completed his tenure as its longest-serving chairman.

Banga is also a member of the U.S.-India CEO Forum. He is a Fellow of the Foreign Policy Association and was awarded the Foreign Policy Association Medal in 2012.

Banga was selected for the Padma Shri this year, which was announced two days ago. “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.

“I’ve seen the impact organizations 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 said.

Mr. Banga serves on the Executive Committee of the Business Roundtable. He is chairman of the Financial Services Roundtable, as well as vice chairman of the Business Council. He is a member of the International Business Council of the World Economic Forum, the Council on Foreign Relations, and the Economic Club of New York.

Prior to MasterCard, Mr. Banga was chief executive officer of Citigroup Asia Pacific. During his career at Citigroup, he held a variety of senior management roles in the United States, Asia Pacific, Europe, Middle East and Africa and oversaw its efforts in microfinance.

Mr. Banga is a graduate of Delhi University and the Indian Institute of Management, Ahmedabad.