SEBI approved Praveena Rai for the role of Managing Director and Chief Executive Officer of Multi Commodity Exchange of India, better known as MCX. 

“Her appointment is subject to acceptance of the offer made to her and approval from the Shareholders of MCX,” read an exchange filing. 

About Praveena Rai 

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Completing her MBA in Business from the Indian Institute of Management, Ahmedabad (IIM – A) in 1995, she joined Procter and Gamble as an assistant brand manager. There she worked for two years. She spent another seven years of her life at two different companies. In 2004, she joined Citibank Group as a Vice President of Customer Care from here she was promoted to Head of Citibank Trade Services. After spending a total of four and half a year, Rai joined HSBC for a new stint as South Asia head of Product Management where she looked over commercial banking sales, payments, and cash management. In HSBC, she took different roles internally for nine and a half months. 

From there she moved to Kotak Mahindra Bank to head cash management and transaction banking. Finally moved to National Payments Corporation Of India (NPCI) as a chief operating officer for a bit more than five and a half years of her professional life there. 

The stock of MCX rose 5.2% to hit a new 52-week high of Rs 4,433.10 from its previous close of Rs 4,213. Shares of MCX have risen more than 5% in the last five days. The stock has given a return of 15% in the last six months. Shares of the company raised the investors’ worth by 420% in the last five years. To compare, NIfty 50 has risen 0.6% in the past five days.