Praveena Rai has officially taken over as Chief Executive Officer and Managing Director of the Multi Commodity Exchange (MCX), effective October 31. Her appointment follows the completion of P.S. Reddy’s five-year term, which ended in May 2024, the exchange said.
Before joining MCX, Rai was the CEO of the National Payments Corporation of India (NPCI), where she led efforts in marketing, business development, product management, and operations strategy.
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She brings over 20 years of experience in the banking sector, having previously served as Regional Head of Payments for Asia Pacific at HSBC. She also managed the cash management portfolio at Kotak Mahindra Bank, the largest shareholder of MCX.
Rai’s extensive background includes expertise in payments, cards, retail banking, and transaction banking. MCX is recognized as India’s largest commodity derivatives exchange.
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