The Hindu Business Line : RMoney CEO in NMCE board

Mumbai, July 24 National Multi-Commodity Exchange (NMCE), the country’s first online demutualised, multi-commodity exchange, has inducted Mr Sudip Bandyopadhyay, CEO, Reliance Money Ltd, in its Board.

The announcement follows Reliance Money expressing interest to acquire up to 26 per cent stake in NMCE, subject to approval and clearances from regulatory authorities.

The board meeting of NMCE was held in New Delhi on Tuesday.

Mr Kailash Gupta, Managing Director, NMCE, said, “With 20 years of experience in the financial sector, we believe Mr Bandyopadhyay will help us take NMCE to the next level.”

Mr Bandyopadhyay is responsible for leading the Reliance Anil Dhirubhai Ambani Group’s ambitious foray in the financial broking and distribution business.

Reliance Money has about 2.5 million plus customers within one year of its official launch and a network of 20,000 plus touch points.

MrBandopadhyay, said the strategic tie-up between NMCE and Reliance Money will help utilise the vast growth potential of commodity trading business in India to its optimum.

NMCE not only revived futures trade electronically in the commodities in the country after a gap of 41 years but also integrated the centuries-old commodity market with the latest technology.

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