Home News Reports Trouble for Raghuram Rajan - To be questioned by CBI in the 20:80 gold scheme issue

Trouble for Raghuram Rajan – To be questioned by CBI in the 20:80 gold scheme issue

Ex-RBI Governor Raghuram Rajan is expected to be questioned by the CBI on the 20:80 gold scheme issue. Republic TV has reported that the CBI is in the process of drafting a questionnaire to be sent to Rajan which will be sent to him shortly.

Raghuram Rajan was the Governor of RBI from 2013 to 2016. The report states that Rajan will be given a deadline to answer the questions put to him and the CBI is also keeping the option of an in-person questioning open in case they are not satisfied with Rajan’s answers. Rajan is believed to be living abroad.

The CBI had yesterday also questioned the former Deputy Governor of RBI HR Khan over the matter. The CBI has been taking stringent and rapid action on after the 12,000 crore PNB scam was brought to light. It was revealed later that former Finance Minister P Chidambaram had signed an order that allowed the Mehul Choksi owned Gitanjali Gems import vast amounts of gold under the 20:80 scheme at a time when gold imports were being restricted in the country due to large Current Account Deficit.

- Advertisement - - Article resumes -

Raghuram Rajan was the Governor of RBI when the RBI cleared the 20:80 Gold Scheme order on May 21. P Chidambaram had signed the dubious order during his last days in the office. The order favoured 13 big companies. Mehul Choksi owned Gitanjali was one of the major benefactors of the order.

Earlier in March, it had come to light that Raghuram Rajan was well aware of the May 2014 order benefiting certain selected players. The Indian Bullion and Jewellers Association had warned Rajan of the possible dubious benefits the order provided to selected companies in a letter.

Earlier, the Ministry of Commerce, in a statement had informed that the Government will definitely examine the circumstances as to why private parties PTHs/STHs (Premier Trading Houses and Star Trading Houses) were benefitted by allowing to import gold under 20:80 scheme by the previous government when the government was in transition and will take necessary action against the persons involved.

Rajan, in an earlier interview to a news channel, had subtly defended the 20:80 scheme and stated that the principal mover behind the May order was the government.

Share This Post With Your Friends & Fans:
We need your support to survive in the media industry. Please consider paying us for the content we produce:

To know more about these payments, please click here.

Election 2019 Final Tally

Check the final seat tally and other post election coverage

A tribute to OpIndia’s fallen star

On 13th May 2019, Devandhu Rajput succumbed to cancer.

The Left has lost its deposit. It is time for the Right to fight Modi

Modi 2.0 heralds a new beginning for India and her people. It must not be allowed to cultivate the habits of Modi 1.0.

Smriti Irani’s aide in Amethi shot dead, his son says some Congress workers were not happy with BJP’s ‘Vijay Yatra’

Smriti Irani had defeated Rahul Gandhi on his home turf of Amethi in Uttar Pradesh by a margin of 55,120 votes
NYT peddles Modi 2.0 as victory of India's most divisive leader

Dear New York Times, India has chosen Modi 2.0, deal with it

When India gives a thumping, unprecedented, overwhelming victory to a man who has made every single Indian feel proud of their nation and heritage, the NYT's heartburn is expected. 

Meerut: Communal tension after a video showing Muslim men beating up shopkeepers goes viral

A viral video where Muslim men are beating up a shopkeeper has triggered communal tensions in Meerut

Rajdeep Sardesai thinks Narendra Modi should thank Masood Azhar, among others, for BJP’s victory

As a long term Congress loyalist media person, Rajdeep Sardesai is yet to come to terms that Modi won a second term with thumping majority

Rahul Gandhi upset that senior Congress leaders didn’t shout ‘Chowkidar Chor Hai’ enough, lashes out on them for party’s defeat

Amusingly, though Rahul Gandhi had indeed offered to resign, the CWC, that is chaired by himself, had unanimously rejected the resignation and asked him to reconstruct the party

Left has failed, but the ‘Right’ does not understand Modi as well

With the left looking irrelevant, the right needs to get its act together.

Congress-friendly journalist Pallavi Ghosh calls out her own channel for reporting ‘wrong news’ about the Gandhis

Senior journalist Pallavi Ghosh just accused her own channel of spreading fake news
Subscribe to Day's Top Stories

Latest articles

Connect with us

Share This Post With Your Friends & Fans: