Praveena Rai takes charge as CEO of MCX

NEW DELHI: Leading commodity exchange MCX on Friday said Praveena Rai has assumed office as its Chief Executive Officer and Managing Director for a five-year term. Rai took charge on October 31, the exchange said in a statement.

She succeeds P S Reddy, who completed his five-year tenure in May 2024.

Prior to joining MCX, Rai served as the CEO at National Payments Corporation of India ( NPCI ), where she spearheaded marketing, business development, product management, and operations strategy.

A seasoned banking professional, Rai previously held the position of Regional Head of Payments for Asia Pacific at HSBC.

She also led the cash management portfolio at Kotak Mahindra Bank, which is the largest shareholder in MCX.

During her career spanning more than 20 years, Rai has developed expertise across various banking segments including payments, cards, retail banking, and transaction banking, the statement added.

MCX is India's largest commodity derivatives exchange.