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The President of India 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). He will serve in this role from the date he assumes office until the Commission submits its report or until 31st October 2025, whichever comes first.

His appointment follows the resignation of Shri Ajay Narayan Jha, a full-time Member of the Commission, who stepped down due to personal reasons.

Constituted on 31st December 2023, the 16th Finance Commission is chaired by Dr Arvind Panagariya, former Vice-Chairman of NITI Aayog. The Commission has been tasked with submitting its recommendations by 31st October 2025. These recommendations will apply for a five-year period beginning 1st April 2026.