On April 2, 2025, Sivasubramanian Ramann, a seasoned civil servant and financial maestro, stepped into the spotlight as the newly appointed Chairperson of the Pension Fund Regulatory and Development Authority (PFRDA). With a five-year term ahead of him or until he reaches the age of 65, whichever comes first Ramann brings a wealth of experience and a dynamic vision to steer India’s pension sector into a secure and prosperous future. His appointment, greenlit by the Appointments Committee of the Cabinet under the leadership of Prime Minister Narendra Modi, marks yet another milestone in a career defined by excellence, innovation, and public service.
The Roots of a Remarkable Journey
Born in India, Sivasubramanian Ramann’s story begins with a passion for finance and economics that would shape his destiny. His academic journey took him to the University of Delhi, where he earned an MBA, mastering the art of business management and laying a solid groundwork for his future endeavors. But Ramann didn’t stop there. Hungry for deeper knowledge, he crossed borders to attend the prestigious London School of Economics and Political Science (LSE), where he secured a master’s degree in financial regulation. This blend of Indian and international education armed him with a unique perspective on global financial systems a perspective that would prove invaluable in the years to come.
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A Career Forged in Service and Expertise
Ramann’s professional saga kicked off in 1991 when he joined the Indian Audit & Accounts Service (IA&AS), a revered cadre tasked with safeguarding the financial integrity of India’s government. As a 1991-batch officer, he dove into the world of audits, scrutinizing the books of government bodies and public sector entities. These early years sharpened his analytical prowess and instilled a deep sense of accountability qualities that would become hallmarks of his career.
Rising Through the Ranks at SEBI
By 2007, Ramann’s talents caught the eye of the Securities and Exchange Board of India (SEBI), the country’s securities market watchdog. Over the next six years, he made his mark, first as Chief General Manager and later as Executive Director. At SEBI, he tackled the complexities of market regulation, championed investor rights, and worked tirelessly to maintain the stability of India’s financial markets. This stint solidified his reputation as a leader who could navigate high-stakes environments with finesse.
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Pioneering Digital Governance at NeSL
Ramann’s next chapter took him to the cutting edge of financial technology. As the Managing Director and CEO of National E-Governance Services Limited (NeSL), India’s first information utility under the Insolvency and Bankruptcy Code, he embraced the challenge of managing critical financial data. His leadership ensured that NeSL became a vital cog in the insolvency resolution machinery, streamlining processes and boosting transparency in a sector ripe for reform.
Empowering MSMEs at SIDBI
From 2021 to 2024, Ramann took the reins as Chairman and Managing Director of the Small Industries Development Bank of India (SIDBI). Here, he turned his focus to the heartbeat of India’s economy the micro, small, and medium enterprises (MSMEs). Under his stewardship, SIDBI fueled the growth of these businesses through innovative financing and development initiatives, fostering entrepreneurship and creating jobs. His tenure was a testament to his ability to blend financial acumen with a commitment to social impact.
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Modernizing Audits at CAG
Currently, Ramann serves as the Deputy Comptroller & Auditor General (CAG) and Chief Technology Officer at the CAG of India. In this dual role, he oversees the nation’s audit operations while spearheading efforts to integrate technology into the process. His vision? To transform auditing into a more efficient, transparent, and forward-looking practice, ensuring that public funds are managed with the utmost integrity.
A New Chapter at PFRDA
Ramann’s appointment as PFRDA Chairperson comes at a pivotal moment for India’s pension landscape. Succeeding Deepak Mohanty, whose term concludes in May 2025, he steps into a role that demands both strategic foresight and operational excellence. The PFRDA, entrusted with regulating and nurturing the pension sector, oversees the National Pension System (NPS) a cornerstone of old-age income security for millions of Indians, from government employees to private citizens.
As Chairperson, Ramann will lead the charge in shaping policies, supervising pension funds, and safeguarding subscriber interests. His mandate is clear: to build a robust, transparent, and inclusive pension system that meets the needs of a rapidly aging population. With his extensive background in financial regulation, audit, and technology, he’s poised to bring fresh ideas and bold reforms to the table.
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A Leader for the Future
Sivasubramanian Ramann’s journey from a diligent IA&AS officer to a transformative leader in finance and governance is nothing short of inspiring. His diverse experiences across SEBI, NeSL, SIDBI, and the CAG have equipped him with a rare blend of skills: a keen eye for detail, a knack for innovation, and an unwavering dedication to public welfare. Now, as he takes the helm at PFRDA, India’s pension sector stands on the cusp of a new era one defined by security, sustainability, and trust.
Under Ramann’s leadership, the PFRDA is set to not just regulate, but to reimagine the future of retirement planning in India. His story is a powerful reminder that with the right mix of education, experience, and vision, one individual can make a lasting impact on millions of lives.
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