♦ President of India has appointed T Rabi Sankar, Deputy Governor of the Reserve Bank of India(RBI), as a part-time member of the 16th Finance Commission (XVIFC) on 7 June 2025.

♦ He will serve in this role from the date he assumes office until either the commission submits its report or until October 31, 2025, whichever comes first.

♦ He will take place of Ajay Jha, who resigned on the personal ground.

♦ The 16th Finance Commission was was constituted on December 31 with Arvind Panagariya, former Vice-Chairman of NITI Aayog, as its chairman.

♦ It is mandated to submit its recommendations by October 31, 2025, for the award period of five years commencing from April 1, 2026.

♦ Rabi Sankar joined RBI in 1990 and has worked in various capacities until he assumed the Office of Deputy Governor in May 2021.