NPCI COO Praveena Rai Resigns, Joins MCX As MD And CEO

The National Payments Corporation of India (NPCI) announced on Thursday that Praveena Rai, its Chief Operating Officer, has resigned and taken on the role of Managing Director and Chief Executive Officer at the Multi Commodity Exchange of India (MCX). Rai’s appointment, approved by the Securities and Exchange Board of India (Sebi) in August, sees her assuming leadership at India’s leading commodity exchange.

With nearly 30 years in the financial services sector, Rai brings extensive experience from her previous roles at Kotak Mahindra Bank, Citi, HSBC, and NPCI. During her tenure at NPCI, she led initiatives in business strategy, marketing, product development, technology, and operational delivery, contributing to NPCI’s rapid expansion and digital transformation.

MCX stated that Rai’s expertise would be instrumental in steering the exchange through its next growth phase as it adapts to the evolving landscape of commodity trading in India. Her appointment follows a period of strategic planning, positioning MCX to leverage digital advancements and strengthen its market leadership under Rai’s guidance.