Proposals made by the Financial Sector Legislative Reforms Commission (FSLRC) doesn't seek to prune the powers of the Reserve Bank of India (RBI), rather there will be more autonomy for the central bank, according to the commission's chairman BN Srikrishna.

Many experts, including some members of the FSLRC, have opposed proposals like keeping non-banking financial firms that do not accept deposits from public and debt management out of the RBI's control.

But, Srikrishna said that the RBI is already very much under the control of the government, and the new proposals aim only to put everything in the public domain.

Trying to address persistent concerns, Srikrishna said, "If the RBI is unable to achieve certain results, the RBI can write a communication to the finance minister and say... because you did this, I couldn't achieve the objectives. Is it not better that the people know what happens behind the curtain?"

Srikrishna added that in the present situation a governor of the RBI can not say that the bank could not achieve a result because it was forced by the finance minister to take a particular route on the matter. He stressed that presently it depends on the personality of the Bank's Governor.

He also said that the appointment of the bank's Governor needed to be streamlined.