Renuka Sane on Regulatory Frameworks, Rule of Law, and Pensions Reforms in India

Today my guest is Renuka Sane who is the managing director of Managing Director of Trustbridge. An institution that seeks to improve India's business environment by improving the rule of law. Renuka was a member of many expert committees including: the Task Force of Experts set up by the Employees Provident Fund Organisation; the research team of the Bankruptcy Legislative Reforms Commission; the Pension Advisory Committee of the Pension Fund Regulatory Development Authority; and the Working Group on personal insolvency at the Insolvency and Bankruptcy Board of India. She received a Ph.D. in Economics from the University of New South Wales.

We talked about the old, new, and unified pension scheme and related reforms over the last few decades in India, India's broader financial regulation framework, separation of powers in regulatory authorities, the way regulatory orders are written, and much more.

Recorded December 17th, 2025.

Read a full transcript enhanced with helpful links.

Learn more about The 1991 Fellowship.

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Timestamps

(00:00:00) - The 1991 Fellowship

(00:01:09) - Intro

(00:02:49) - India's Pension System

(00:35:42) - Private Sector Pension Schemes

(01:06:28) - Regulatory Orders

(01:24:03) - Improving Transparency at the Reserve Bank of India

(01:34:57) - Outro