Mumbai, Nov 5 (PTI) The board of directors of NCDEX eMarkets Ltd (NeML) on Thursday announced the appointment of Mrugank Paranjape as the company's managing director and chief executive officer.

NeML is a 100 per cent subsidiary of the National Commodity and Derivatives Exchange (NCDEX), according to a statement.

Also Read | Huawei Nova 8 SE, Nova 8 SE High Edition Launched; Check Prices, Features, Variants & Specifications.

Paranjape has taken over the charge effective Thursday (November 5).

Prior to joining NeML, Paranjape worked with Alpha Alternatives, a boutique alternative asset manager in the absolute return and commodities area where he was a senior partner.

Also Read | Andy Dwyer From Parks and Rec Studied at Gopi Bahu’s School of Washing Laptops – Here’s Video Proof.

He has also worked as the managing director and chief executive officer of the Multi Commodity Exchange of India (MCX) for three years.

Paranjape said, "I am excited by this opportunity to lead the able team of NeML in these challenging yet interesting times. The Indian agriculture today stands at a cusp of a transformation and will enhance its significance to the Indian economy."

He added that NeML as a company is rightfully poised to drive this evolution.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)