The President has appointed Mr T. Rabi Sankar, Deputy Governor, Reserve Bank of India (RBI), as a part-time member of the 16th Finance Commission (XVIFC).

He shall hold office from the date he assumes charge until the submission of the Commission’s Report or 31 October 2025, whichever is earlier.

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Mr Sankar’s appointment follows the personal resignation of one of the full-time Members of the 16th Finance Commission, Mr Ajay Narayan Jha.

The 16th Finance Commission was constituted on 31 December 2023, with Dr. Arvind Panagariya, former Vice-Chairman of NITI Aayog, as its chairman. The Commission is mandated to submit its recommendations by 31 October 2025, for the award period of five years commencing from 1 April 2026.