T. Rabi Sankar Joins 16th Finance Commission as Member

09 Jun 2025 CW Team

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.

Real Estate

12 Jun 2025

Inspira Realty Plans 8-10 Redevelopment Projects in Mumbai

Inspira Realty, a leading Mumbai-based developer and a part of Inspira Global, has announced plans to undertake 8鈥�10 new redevelopment projects across the city鈥檚 key western and southern corridors. With this expansion, the firm is poised to exceed its current Gross Development Value (GDV) of Rs 40 billion and drive forward its urban transformation agenda. The company has commenced the financial year with two development agreements signed in Borivali and Santacruz (W) and is actively negotiating further acquisitions. These projects, expected to span a construction area of 4 million sq ..

Real Estate

12 Jun 2025

U-Sphere Bags First Private Project with Ceenex in Thiruvananthapuram

U-Sphere, the high-tech construction arm of ULCCS, has secured its first major private sector project: the design and construction of a new training facility for Canada-based Ceenex Global Computer Private Limited in Sasthamangalam, Thiruvananthapuram. The agreement was signed by Remeshan Palery, Director, U-Sphere, and Muhammed Irfan, Director, Ceenex Global. As part of the project, U-Sphere will deliver the core structural framework and building envelope within a fast-tracked seven-month schedule. This facility will serve as a key hub for Ceenex鈥檚 initiatives across e-governance, heal..

Equipment

12 Jun 2025

Godrej Motor Solutions Targets Rs 10 billion Revenue by FY28

The Motor Solutions business of the Godrej Enterprises Group is aiming for Rs 10 billion in revenue by FY28, with 20 per cent of this expected from exports. For FY26, the business is targeting Rs750 crore, driven by demand growth across electric vehicles (EVs), HVAC, pumps, and actuators in both domestic and international markets. Xercsis Marker, EVP & Head, Motor Solutions Business, Godrej Enterprises Group, said, 鈥淲e are strengthening our manufacturing capabilities through significant R&D investments and advanced technology adoption. We continue to invest in t..