Banga, chairman of US-India Business Council, was appointed member of the Advisory Committee for Trade Policy and Negotiations, said the White House.
Banga was among a number of key appointments announced by the White House.
"The talent and expertise these individuals bring to their roles will serve our nation well. I am grateful for their service, and look forward to working with them," Obama said.
According to White House, the Advisory Committee for Trade Policy and Negotiations is tasked with providing policy advice on trade matters, and is made up of members who broadly represent key sectors and groups of the economy,
Banga, an MBA from the Indian Institute of Management Ahmedabad, is the president and CEO of MasterCard since 2009.
Prior to joining MasterCard, he held senior management roles with Citigroup from 1996 until his departure in 2009, when he served as CEO of Citigroup Asia Pacific.
He served as Director for Marketing and Business Development at PepsiCo Restaurants International India from 1994 to 1996.
Banga began his career at Nestle India, where he served in various sales and management roles from 1981 to 1994. He is a member of the Board of Directors of MasterCard and The Dow Chemical Company.
He received a BA degree from Delhi University's St Stephen's College.

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