The President has appointed Shri T. Rabi Sankar, Deputy Governor of the Reserve Bank of India (RBI), as a part-time Member of the 16th Finance Commission (XVIFC). His tenure begins upon assuming charge and will continue until the submission of the Commission’s report or 31st October 2025, whichever is earlier.
This follows the resignation of full-time Member Shri Ajay Narayan Jha on personal grounds. The XV IFC, chaired by Dr. Arvind Panagariya (former Vice-Chairman of NITI Aayog), was constituted on 31st December 2023 and is mandated to submit its recommendations by 31st October 2025, covering the five-year fiscal period starting 1st April 2026.