Proposed GST slab of 35% is a deterrent for growth
As per a cross-country World Bank study on sugar-sweetened beverages, India has one of the highest tax rates for carbonated soft drinks (CSDs) at a total tax rate of 40 per cent as of 2023.
State Bank of India’s Managing Director Anshula Kant has been appointed as Managing Director and Chief Financial Officer of the World Bank Group.
The appointment was announced by World Bank Group President David Malpass on Friday. Kant is currently a Managing Director of SBI where she previously also served as Chief Financial Officer.
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“Anshula brings more than 35 years of expertise in finance, banking, and innovative use of technology through her work at the State Bank of India,” Malpass said in a statement.
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“She’s excelled at a diverse array of leadership challenges including risk, treasury, funding, regulatory compliance and operations.”
According to the statement, as Managing Director and Chief Financial Officer, Kant will be responsible for financial and risk management of the World Bank Group, reporting to the President.
“Among other key management duties, her work will include oversight of financial reporting, risk management, and working closely with the World Bank CEO on mobilisation of IDA and other financial resources,” the statement said.
As CFO of SBI, Kant managed $38 billion of revenues and total assets of $500 billion.
“Stewarding the organisation (SBI), she greatly improved the capital base and focused on the long-term sustainability of SBI within her mandate. She has been a Managing Director and member of the Board since September 2018,” the statement said.
“With direct responsibility for the SBI’s Risk, Compliance, and Stressed Asset Portfolio, Kant led the creation of investment opportunities while empowering risk management throughout the bank. She held several positions across the organisation and helped navigate a diverse array of leadership challenges.”
Kant is a graduate in Economic Honours from Lady Shri Ram College and a post-graduate in Economics from Delhi School of Economics.
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