Catalyst composite for the reduction of olefins in the FCC naphtha stream

The present disclosure relates to a catalyst composition comprising (a) at least one rare earth metal, (b) at least one zeolite, and (c) at least one diluent, wherein, said rare earth metal is impregnated in at least one of (b) and (c); the ratio of said zeolite to said diluent ranges from 1 : 9 to 9 : 1; and the amount of said rare earth metal is in the range of 0.1 to 20 w/w %. The present disclosure also relates to a process for preparing a catalyst composition. Further, the present disclosure relates to a process for reducing the olefin content in a hydrocarbon stream using the catalyst of the present disclosure.