Multi Commodity Exchange Gets New Head

After two years of wait, Multi Commodity Exchange (MCX) finally saw the new Managing Director and CEO, Mrugank Paranjape, taking charge.

Mrugank Paranjape has joined as MD and CEO of the company on May 09, 2016.

His term is for 3 years. He worked with Deutsche Bank for 14 years. Later, he headed DB Center of the bank.

MCX has been headless for the past two years. P K Singhal was handling the affairs of the exchange as joint MD.

Now with the appointment of MD, Singhal has been re-designated as the President and Whole Time Director with effect from April 1.

A year ago, the company had appointed an MD but his name was rejected by the then regulator FMC on the grounds that proper procedures were not followed.