RBI in talks with govt on monetary policy framework: Rajan

Reserve Bank of India (RBI) Governor Raghuram Rajan said on Thursday the central bank was in discussions with the government over the country's monetary policy framework, calling the relationship between the two sides "cordial."

Talks included setting objectives for the RBI, he said, while adding these talks did not threaten the independence of the central bank and were instead issues being worked out between the two sides.

"The truth is the government and the Reserve Bank enjoy a free, frank and cordial relationship."

"We discuss many things and we try and do what is in the best interest of the country," Rajan said at event involving students in the southern city of Hyderabad.