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One more shareholder director appoints on MCX Board

MCX appoints one more shareholder director on its Board

On of the major commodity exchanges MCX India, said today that it has named Rajiv S Abhyankar, CEO of Bank of Baroda, as a shareholder director on the board to fulfill the revised guidelines.

Abhyankar’s appointment as shareholder¬†director on the board of the company would be subject to approval by the regulator of commodity markets FMC, the exchange said that in a presentation to the BSE.

The MCX India Board currently consists of seven independent directors and six shareholder directors.

After NSEL crisis, the regulator FMC has directed national exchanges including MCX India to reconstitute their boards aligned with the revised guidelines.

Under the revised rules, the representation of the shareholders of government firms, banks, public financial companies, cooperative societies, Warehouse companies, stock and commodity exchange – the exchange board should not be less than the half the total number of shareholder directors.

Also any of these shareholders should not have more than one representative on the board.

Reported News Source: PTI Economic Times

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About Narmada Ji

Myself Technical Analyst and Owner Investment Growth Services (100mcxtips.com). 100McxTips is a Market Leader MCX Commodity Advisory, which has a strong hold in offering trusted MCX Tips and accurate as well as Commodity Market Tips. For more mcx, commodity market news by 100McxTips, follow us on Twitter @100mcxtips and on Facebook at facebook.com/100mcxtips.

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