Praveena Rai has been appointed as the new CEO and Managing Director of Multi Commodity Exchange (MCX) from October 31, 2024. She succeeds P. S. Reddy, who completed his tenure in May 2024 and has relinquished the chair after serving for five years.
Rai brings over 20 years of experience in the banking and financial services industry. Prior to joining MCX, she served as the COO of the National Payments Corporation of India (NPCI), where she played a key role in shaping the company’s marketing, business development, product management, and operational strategy.
Her extensive career includes senior roles such as Regional Head of Payments for Asia Pacific at HSBC and Head Of Cash Management and Transaction Banking at Kotak Mahindra Bank, MCX's largest shareholder. With diverse expertise across payments, cards, retail banking, and transaction banking, Rai is well-equipped to steer MCX into its next growth phase.
As India’s largest commodity derivatives exchange, MCX looks forward to Rai’s leadership in further consolidating its position in the financial markets.
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