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Written by 12:27 pm Manufacturing Sector News

Praveena Rai takes over as CEO and MD of Multi Commodity Exchange of India

The Multi Commodity Exchange of India (MCX) Ltd on Thursday (October 31) announced that Praveena Rai has officially taken on the role of managing director and chief executive officer, effective October 31, 2024.

Rai’s appointment was confirmed by the company’s board, the regulator, and shareholders at the recent annual general meeting on September 26. Her term as MD and CEO is set for five years.

With over three decades of experience, Rai is a prominent figure in India’s financial sector, notably contributing to digital and strategic advancements.

Prior to joining MCX, Rai served as chief operating officer at the National Payments Corporation of India (NPCI), where she played a key role in formulating business, operational, and technical strategies and shaping the organisation’s industry impact.Also Read: MCX Q2 Results | Firm swings to black, posts ₹154 crore profit, revenue spikes 73%

Her career also includes leadership roles as regional head of payments, Asia Pacific, at HSBC, with previous tenures at Citigroup Global Services and Kotak Mahindra Bank.

Rai is an IIM Ahmedabad alumna, holding a post graduate diploma in management (1995) and a bachelor of engineering from the College of Engineering, Guindy (1990).

She also completed the Advanced Management Program (AMP) at the Wharton School in 2023. Known for her strategic acumen and her commitment to advancing India’s digital payments landscape, Rai brings a wealth of knowledge and industry insight to MCX as it looks toward future growth and innovation.

Also Read: MCX shares may rise up to ₹8,000, says UBS even after stock triples in a year

Shares of Multi Commodity Exchange Of India Ltd ended at ₹6,535, up by ₹151.70, or 2.38%, on the BSE.

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