In a major move on Thursday, Prime Minister Narendra Modi-led Appointments Committee of the Cabinet cleared the name of senior economist Neelkanth Mishra as Executive Director of the World Bank. He will be stationed in Washington.Mishra, currently a part-time member of the PM’s Economic Advisory Council, will replace Parameswaran Iyer, a 1981-batch retired IAS officer of the Uttar Pradesh cadre in the post.Meanwhile, Iyer’s tenure as Executive Director at the World Bank has been extended beyond June 19, when it was due to end, until Mishra assumes charge.In another major decision today, the ACC extended the tenure of Tarun Kapoor as PM’s adviser for a period of one more year.“The Appointments Committee of the Cabinet has approved the extension of tenure of Kapoor, a 1987-batch IAS of Himachal Pradesh cadre, as adviser to the Prime Minister in the PMO in the rank and scale of Secretary to government, for a year from June 10 or until further orders, whichever is earlier,” the orders seen by The Tribune say.Mishra, who will lead the World Bank, is Managing Director, Co-Head of Equity Strategy, Asia Pacific, and India Strategist for Credit Suisse. He has been rated among the best analysts in India by the Institutional Investor and Asia Money polls. He is part of the Advisory Council to the 15th Finance Commission, and has been an adviser to committees appointed by the Government of India, such as the RNR (Revenue Neutral Rate) Committee on GST and the FRBM (Fiscal Responsibility and Budget Management) Review Committee.He writes frequently in prominent newspapers and magazines on economic issues. Neelkanth has worked on metals and mining, Indian pharmaceuticals, Taiwan IC design, semiconductor foundries and Asian tech strategy research, based out of Mumbai, Singapore and Taipei. Prior to joining Credit Suisse, he was a Senior Technical Architect with Infosys Technologies. Mishra has also worked with Hindustan Lever Limited and has been an entrepreneur. He is a gold medallist from the Indian Institute of Technology, Kanpur, graduating in computer science and engineering, and was ranked fourth in the prestigious entrance exam to the IITs.