New Delhi: The Appointments Committee of the Cabinet (ACC) has approved the appointment of S Ramann as Chairman & Managing Director (CMD) of Small Industries Development Bank of India (SIDBI) on Tuesday. According to an order from the Department of Personnel & Training (DoPT), Ramann has appointed to the post for a period of three years from the date of taking over charge of the post or until further orders, whichever is earlier. He is currently serving (on deputation) as MD & CEO of National E-Governance Services Limited (NeSL), India's first Information Utility.
Ramann had been recommended for the post of CMD of SIDBI by the Banks Board Bureau (BBB), the head-hunter body for state-owned banks and financial institutions, in December 2020. He was shortlisted from a list of 20 candidates, who were interviewed by the Banks Board Bureau.
S Ramann is an Indian Audit & Accounts Service (IA&AS) officer of the 1991-batch. Prior to joining NeSL, Ramann was the Principal Accountant General of Jharkhand from 2015-2016. He was empanelled to the post of Joint Secretary to the government in 2011. Earlier, he has held the position of Executive Director Secondary Markets with SEBI, while he was on deputation from the government from 2006 to 2013. Ramann has done his BA (Economics) and MBA from Delhi University. His professional qualifications are LLB, MSc in Regulation from the London School of Economics, Certified Internal Auditor from IIA, Florida and Post Graduate Diploma in Securities Law.
Small Industrial Development Bank of India (SIDBI) is a development financial institution in India, headquartered in Lucknow and having its offices all over the country. Its purpose is to provide refinance facilities and short-term lending to industries and serves as the principal financial institution in the Micro, Small and Medium Enterprises (MSME) sector. SIDBI also coordinates the functions of institutions engaged in similar activities. It was established on April 2, 1990, through an Act of Parliament. It is headquartered in Lucknow. SIDBI operates under the Department of Financial Services.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram & Twitter as well. Join PSU Watch Channel in your Telegram and follow us on Twitter to stay updated)