Former SEBI Chairman GV Ramakrishna, who also held some of the most high-profile jobs in the Indian government over his illustrious career, passed away here on Saturday. The 91-year-old started his career as a biochemist with the Rockefeller Foundation doing research in Haematology in the Bowring Hospital in his hometown Bangalore, opted for the civil service and joined the IAS in 1952 from Andhra Pradesh cadre. A well-known crusader of protecting small investor’s interest, Ramakrishna was appointed as the Chairman of SEBI in 1990 when it lacked the legal status as market regulator.
Ramakrishna, who was at the helm of SEBI till 1994, was a strong advocate for banning the badla stock trading system. In his more than five decades of government service, Ramakrishna held several coveted positions including diplomatic assignments. He was the minister of economic affairs at the Embassy in Washington in 1972 and was later India’s Ambassador to the European Economic Community (European Union) in 1989.Ramakrishna was the first Chairman of the Disinvestment Commission. In his varied career, he worked under different ministries including the Finance ministry and Ministries of Industry, Steel, Coal and Petroleum. He was Adviser in the Planning Commission in 1981 and Member in 1994.