Sivasubramanian Ramann appointed PFRDA chairman

Sivasubramanian Ramann (Source: SIDBI)

The government has named Deputy Comptroller and Auditor General Sivasubramanian Ramann as the chairperson of the Pension Fund Regulatory and Development Authority (PFRDA).

Ramann, also the chief technology officer (CTO) at CAG's office, will serve a five-year term.

The Appointments Committee of the Cabinet, however, didn’t mention Ramann's date of joining in its official release.

Ramann will hold the position for five years from his date of joining, or till the time he attains the age of 65, the release said.

PFRDA called applications for the job in late November along with those for two whole-time members.

Incumbent Deepak Mohanty’s term ends in May.

Ramann is a 1991-batch Indian Audit & Accounts Service officer. Before joining CAG's office, he was the chairman and managing director (MD) of Small Industries Development Bank of India (SIDBI).

Earlier, he was the CEO and MD of National E-Governance Services Ltd (NeSL). He also held multiple positions with the Securities and Exchange Board of India (SEBI), including that of executive director from 2007 to 2013.

Ramann has a master's degree in financial regulation from the London School of Economics and Political Science (LSE) and an MBA from the Delhi University.

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PFRDA is a regulatory body that oversees India’s pension sector. It regulates the National Pension System (NPS).