Praveena Rai Appointed as CEO and MD of MCX: A New Era for India's Largest Commodity Derivatives Exchange
| Aspect | Details |
|---|---|
| Name | Praveena Rai |
| Designnation | Chief Executive Officer (CEO) and Managing Director (MD) |
| Organization | Multi Commodity Exchange of India (MCX) |
| Appointment Date | October 31, 2024 |
| Term | Five-year term |
| Previous CEO | P S Reddy (served until May 2024) |
| Experience | Over 20 years in banking, payments, cards, retail banking, and transaction banking |
| Previous Role | Chief Operating Officer (COO) at National Payments Corporation of India (NPCI) |
| Notable Achievements | - Led marketing, business development, product management, and operations strategy at NPCI - Enhanced India's digital payment landscape - Former Regional Head of Payments for Asia Pacific at HSBC - Managed cash management portfolios at Kotak Mahindra Bank |
| MCX Overview | - India's largest commodity derivatives exchange - Established in 2003 - Offers derivative contracts on metals, energy, and agricultural products - Focuses on transparency, reliability, and efficiency |
| Key Focus Areas Under Rai | - Digital transformation and operational efficiency - Product diversification and market expansion - Enhanced customer experience - Stakeholder alignment and corporate governance |
| Major Shareholder | Kotak Mahindra Bank |
| Leadership Vision | Expanding MCX's market presence, fortifying leadership in commodity derivatives, and aligning with India's digitalizing economy |