He added that now the government has to decide on the timing of tabling the amendments to the RBI Act before Parliament.

Rajan did not get into the specifics, saying "I think the government does not want to discuss this outside Parliament with due respect for parliamentary procedures".

He, however, reiterated that all the discussions surrounding issues that have generated a lot of speculation are over.

In a recent speech, Rajan had said the Central Bank is looking forward to the amendments to the RBI Act before the migration to the inflation-targeting framework.

The representation of nominees from the government as well as RBI in the committee, which will set the rates, has been an issue of intense speculation after Rajan said in August that he does not want the veto on rates to be with the governor.

RBI joined a growing list of central banks in the world with inflation targeting as an explicit objective by signing an agreement with the government last February.

The  agreement was signed after a committee headed by Deputy Governor Urjit Patel recommended a shift to this practice.

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