Former Sebi chief Ramakrishna dies in Chennai at age 91 after illness

Ramakrishna started as a biochemist in his hometown Bangalore, joined the IAS in 1952.

G V Ramakrishna, a former chairperson of India’s market regulator, died in Chennai on Saturday, media reports said. He was 91.

Ramakrishna, as an Indian Administrative Service (IAS) officer, had five decades of government service, working as a diplomat and policy expert. He was asked to lead the Securities and Exchange Board of India (Sebi) in 1990 when it lacked the legal status as market regulator, using his four-year term to protect the interests of small investors. He then became the first chairperson of Disinvestment Commission in 1996 to manage the government’s exit from state-owned businesses.

Ramakrishna was the minister of economic affairs at the Embassy in Washington in 1972 and India’s Ambassador to the European Economic Community (European Union) in 1989, Hindu Business Line reported.

Ramakrishna he worked at the Finance Ministry and Ministries of Industry, Steel, Coal and Petroleum. He was adviser in the Planning Commission in 1981 and Member in 1994.

Ramakrishna started as a biochemist in his hometown Bangalore and joined the IAS in 1952 as an Andhra Pradesh cadre officer. The Times of India and Business Line said Ramakrishna died after a brief illness.