Latest news with #Ramann
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Business Standard
5 hours ago
- Business
- Business Standard
Sivasubramanian Ramann takes charge as PFRDA chairperson for five years
Sivasubramanian Ramann on Friday assumed charge as the chairperson of the Pension Fund Regulatory and Development Authority (PFRDA). 'He has been appointed by the Government of India vide notification dated April 8, 2025, for a tenure of five years with effect from the date of assumption of charge of the post, or till he attains the age of 65 years, or until further orders, whichever is the earliest,' said the PFRDA statement. He replaced Deepak Mohanty, who was appointed in March 2023. Ramann is an officer of the Indian Audit and Accounts Service (IA&AS) from the 1991 batch. Prior to joining PFRDA, he served as deputy comptroller and auditor general and chief technology officer in the Office of the Comptroller and Auditor General of India. He has previously held several leadership positions, including chairman and managing director of the Small Industries Development Bank of India (SIDBI), managing director and chief executive officer of National E-Governance Services Ltd (NeSL), and principal accountant general of the state of Jharkhand. From 2006 to 2013, he also served as chief general manager and later as executive director at the Securities and Exchange Board of India (SEBI). Ramann holds a bachelor's degree in economics and an MBA from the University of Delhi. The new chairman will receive a consolidated monthly pay and allowances of ₹5,62,500 without the facility of house or car. The PFRDA had invited applications for the post in late November, along with those for two whole-time members. He also possesses multiple professional and academic qualifications, including an MSc in Financial Regulation from the London School of Economics and Political Science, an LLB, a Chief Digital Officer certification from the Indian School of Business, the Certified Internal Auditor credential from the Institute of Internal Auditors (IIA), Florida, and a postgraduate diploma in securities law. PFRDA was created in 2003 with the goal of promoting, regulating and developing the pension industry in the country. Initially designed exclusively for government employees, its services were subsequently expanded to include all Indian nationals and NRIs, including the self-employed. India's demographic trends, characterised by a rapidly ageing population and increasing life expectancy, underscore the critical need for financial security post-retirement. However, only 5.7 per cent of Indian household assets are allocated to provident and pension funds, reflecting a significant gap in retirement preparedness.
Mint
8 hours ago
- Business
- Mint
Sivasubramanian Ramann assumes charge as the chairperson of PFRDA
The government on Friday appointed Sivasubramanian Ramann as the new chairperson of the Pension Fund Regulatory and Development Authority (PFRDA). He was appointed by a notification on 8 April for a tenure of five years with effect from the date of assumption of charge of the post or till he attains the age of 65 years, or until further orders, whichever is the earliest. Ramann is an officer of the Indian Audit & Accounts Service (IA&AS) from the 1991 batch. Prior to joining PFRDA, he served as deputy comptroller and auditor general and chief technology officer in the office of the comptroller and auditor general of India. He has previously held several leadership positions, including chairman and managing director of the Small Industries Development Bank of India (SIDBI), managing director and chief executive officer of National E-Governance Services Ltd. (NeSL), and principal accountant general of Jharkhand. From 2006 to 2013, he also served as chief general manager (CGM) and then as executive director at the Securities and Exchange Board of India (Sebi). Ramann holds a Bachelor's degree in economics and an MBA from the University of Delhi. He also possesses multiple professional and academic qualifications, including an in Financial Regulation from the London School of Economics, an LLB, a Chief Digital Officer certification from the Indian School of Business, the Certified Internal Auditor credential from the Institute of Internal Auditors (IIA), Florida, and a Post Graduate Diploma in Securities Law. With his vast experience in public finance, technology and financial regulation, Ramann will guide PFRDA in its objective to strengthen India's pension system and promote retirement security for all citizens, a finance ministry statement said.
India.com
12 hours ago
- Business
- India.com
Sivasubramanian Ramann Takes Charge As PFRDA Chairperson: Finance Ministry
New Delhi: Sivasubramanian Ramann on Friday assumed charge as the Chairperson of the Pension Fund Regulatory and Development Authority (PFRDA), according to a Finance Ministry statement. He has been appointed for a tenure of five years, with effect from the date of assumption of charge of the post or till he attains the age of 65 years, or until further orders, whichever is the earliest, the statement read. Ramann served as an officer of the Indian Audit and Accounts Service (IA&AS) from the 1991 batch. Prior to joining PFRDA, he served as the Deputy Comptroller and Auditor General and Chief Technology Officer in the Office of the Comptroller and Auditor General of India. According to the ministry, he has previously held several leadership positions, including Chairman and Managing Director of the Small Industries Development Bank of India (SIDBI), Managing Director and Chief Executive Officer of National E-Governance Services Ltd. (NeSL), and Principal Accountant General of the State of Jharkhand. For period 2006 to 2013, he also served as Chief General Manager (CGM) and then as Executive Director at the Securities and Exchange Board of India (SEBI). Ramann holds a Bachelor's degree in Economics and an MBA from the University of Delhi. He also has multiple professional and academic qualifications. 'With his vast experience in public finance, technology, and financial regulation, Ramann will guide PFRDA in its objective to strengthen India's pension system and promote retirement security for all citizens,' said the ministry. Meanwhile, the National Pension System (NPS) has emerged as a cornerstone of India's pension sector with an accumulated corpus of Rs 14.4 lakh crore and 8.4 crore subscribers under NPS and the Atal Pension Yojana (APY), said PFRDA chairman Deepak Mohanty during an event in April. Minister of State for Finance, Pankaj Chaudhary, said India's demographic landscape is rapidly changing and with 19 per cent of the population projected to be elderly by the mid-century, securing financial independence through inclusive pension schemes is not merely a goal, but a vital need for the country.
