Subramaniam Raman, an IA&AS officer of the 1991 batch, serves as the Chairperson of the Pension Fund Regulatory and Development Authority (PFRDA); he assumed this role on June 20, 2025, for a five-year term. Prior to this, he held the positions of Deputy Comptroller and Auditor General and Chief Technology Officer at the Office of the Comptroller and Auditor General of India. His career has spanned the fields of public finance technology and financial regulation.
Before becoming the PFRDA Chairperson, S. Raman served as the Chairman and Managing Director of the Small Industries Development Bank of India (SIDBI). He also held the positions of MD and CEO of National E-Governance Services Limited and Executive Director at the Securities and Exchange Board of India (SEBI). His leadership reflects a strong commitment to financial stability, institutional development, and inclusive economic growth.
Regarding his educational and professional qualifications, S. Raman holds a B.A. in Economics from St. Stephen’s College and an MBA from the Faculty of Management Studies (FMS), Delhi. He subsequently earned an M.Sc. in Financial Regulation from the London School of Economics and Political Science and a Bachelor of Laws (LL.B.) degree from the University of Mumbai.
As PFRDA Chairperson, he has focused on expanding the reach of the National Pension System (NPS) by simplifying distribution norms and designing improved payout and annuity frameworks for the accumulation phase of an individual’s financial journey. Leveraging his extensive experience in public finance and governance, he has contributed significantly to strengthening India’s financial system and enhancing transparency within it. As Deputy Comptroller and Auditor General, he worked to improve audit and accountability mechanisms, while his tenure as Chairman and Managing Director of SIDBI focused on supporting MSMEs and increasing access to finance.