Current Context : Recently, SEBI approved Praveena Rai as new MD & CEO of MCX, the country’s largest commodity exchange.

• Rai was the COO of NPCI (National Payment Corporation of India) and was in charge of formulating and deploying the marketing, business development, product management, and operations strategy.

ABOUT SECURITIES AND EXCHANGE BOARD OF INDIA (SEBI)

• It is a regulatory authority for the securities and commodity market in India.
• Established in 1992 under the SEBI Act.
• Aim of protecting investors’ interests, regulating the securities market, and promoting its development.
• Function: Regulates stock exchanges and other securities markets, Protects the interests of investors by enforcing regulations and ensuring compliance.