The CBI on Friday, 6 April, questioned a former deputy governor of the Reserve Bank of India (RBI), Harun Rashid Khan, in connection with alleged bank fraud cases involving diamond traders Nirav Modi and Mehul Choksi and relaxation of gold import policy by the erstwhile UPA government, sources said.
The officials said he was questioned about the UPA government's 20:80 gold import scheme, which was cleared by the then finance minister Chidambaram on 13 May 2014, barely three days before the counting of votes for the general election.
The central investigation agency, which is probing the alleged Rs 13,000-crore PNB fraud involving billionaire diamantaire Nirav Modi and his uncle Mehul Choksi, had on Thursday questioned three chief general managers and one general manager of the RBI, officials said. The four officials were also asked questions related to the UPA government's '20:80' gold import scheme.
RBI Officials Asked by CBI to Provide 'Clarity' on Policy Matters: Sources
With the CBI quizzing some senior RBI officials and a former deputy governor in connection with the Nirav Modi fraud, the central bank sources said on Friday that they were being called by the probe agency for "clarity" on policy matters, including about the gold import schemes, and other issues relating to the banking sector.
The RBI sources said its officials are routinely "consulted" by other probe agencies and regulators to provide "clarity" on banking and other related policy matters under the central bank's domain and the same has been the case in the present matter.
The NDA government has alleged that the relaxation in the so-called '20:80 gold import scheme' resulted in a windfall of Rs 4,500 crore to 13 trading houses in six months.
The BJP has also accused Chidambaram of aiding jewellers Nirav Modi and Mehul Choksi, the main accused in the fraud at PNB, through the 20:80 gold import scheme.
Chidambarm had in last few days of the UPA government modified the gold import scheme to allow private trading houses to import gold on condition that they would export 20 percent of it.
Previously, only state-owned companies MMTC and STC were allowed to import gold.
(At The Quint, we question everything. Play an active role in shaping our journalism by becoming a member today.)