RBI Deputy Governor T. Rabi Sankar Appointed as Part-Time Member of 16th Finance Commission (XVIFC)
The appointment comes ahead of the resignation of Ajay Narayan Jha, a full-time member of the Commission
The President of India has appointed Reserve Bank of India Deputy Governor T. Rabi Sankar as a part-time member of the 16th Finance Commission (XVIFC). According to the official notification issued by the Ministry of Finance, Sankar will hold office from the date he assumes charge until the submission of the Commission’s report or 31 October 2025, whichever is earlier.Also...
The President of India has appointed Reserve Bank of India Deputy Governor T. Rabi Sankar as a part-time member of the 16th Finance Commission (XVIFC). According to the official notification issued by the Ministry of Finance, Sankar will hold office from the date he assumes charge until the submission of the Commission’s report or 31 October 2025, whichever is earlier.
The appointment of T. Rabi Sankar comes following the resignation of Ajay Narayan Jha, who was serving as a full-time member of the Commission. Jha, a noted economist and experienced administrator, stepped down from his position due to personal reasons, thereby requiring the government to fill the resulting vacancy with a part-time member from the sphere of financial regulation.
The Deputy Governor brings with him extensive expertise from his long career at the Reserve Bank, where he oversaw critical departments such as foreign exchange, currency management, and government accounts, while making key contributions towards payment and settlement systems, IT infrastructure, and financial market regulation.
The 16th Finance Commission, constituted on 31 December 2023, is chaired by Dr. Arvind Panagariya, former Vice-Chairman of NITI Aayog.
The 16th Finance Commission is a constitutionally mandated body that is tasked with recommending the distribution of tax revenue between the central and state governments, as well as among the states themselves, for a period of five years beginning 1 April 2026. The Commission shall play a highly integral role in shaping fiscal trajectory while ensuring that resources are allocated equitably across the various sectors under the Government’s eye.
The appointment of T. Rabi Sankar is seen as a boost towards the roster of the commission, with the Deputy Governor poised to contribute towards enhancing the relevance and real-world implementability of the commission report.
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