NCDEX wesbite

The Securities and Exchange Board of India (SEBI) has approved the appointment of Arun Raste as the new Managing Director and CEO of National Commodity and Derivatives Exchange Ltd (NCDEX) for five years.

Raste will join NCDEX in due course of time, the NCDEX added.

He is currently Executive Director of National Dairy Development Board (NDDB) as an Executive Director. Raste also serves as a director on the board at Indian Immunological Limited and Mother Dairy Fruit & Vegetable Pvt Ltd.

Earlier, he worked with IDFC First Bank, Kotak Mahindra Bank, NABARD, ACC Cement, and non-profit NGO IRFT. Raste did his bachelor's and master's in economics, and hold a post-graduate diploma in marketing management.

Earlier this month, NCDEX said that Vijay Kumar had bid adieu to the exchange following completion of his extended term as the Managing Director and CEO. After his completion of the stipulated three years tenure, SEBI had given Kumar an extension of three months in January this year, it added.

NCDEX had also stated that the appointment of the new MD and CEO was underway as per the regulatory guidelines.

NCDEX is a leading agricultural commodity exchange offering services across the entire post-harvest agricultural commodities value chain. It brings buyers and sellers together through its electronic trading platform.

Some of NCDEX's key investors include National Stock Exchange of India Ltd, Life Insurance Corporation of India, National Bank for Agriculture and Rural Development, Indian Farmers Fertiliser Cooperative Ltd, Oman India Joint Investment Fund, Punjab National Bank, Canara Bank, Build India Capital Advisors LLP, and Investcorp Private Equity Fund I (earlier known as IDFC Private Equity Fund III).

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Free Press Journal