Rae paid a courtesy call on the President at the Rashtrapati Bhawan here.
Rae is returning to New Delhi on completion of his three-and-a-half-year tenure in Nepal as the ambassador of India.
During the meeting, they discussed matters relating to bilateral relations, according to a press release issued by the President's office.
Rae also called on Prime Minister Prachanda at the Premier's office.
During the meeting, Prachanda thanked Rae for his effective and balanced role during his tenure as the Indian envoy, according to sources at the Prime Minister's office.