As part of this process and to guide the overall process of implementation of appropriate changes in respect to various segments of the financial system, the RBI had, in consultation with Government of India, constituted a Standing Committee on International Financial Standards and Codes in December 1999.
This is reflected in the agreement regarding the inflation target that I spoke of earlier and the frequent discussions on issues of mutual interest. The government also supports a high level of transparency by the RBA, including through publications and speeches and public appearances before parliamentary oversight committees.