CBI examines rationale for RBI issuing 20:80 gold import scheme in 'haste'

Former deputy governor H R Khan refutes allegation, says due process followed

The Central Bureau of Investigation (CBI) is examining the rationale for the Reserve Bank of India (RBI) issuing the 20:80 gold import scheme circular “in haste” on May 21, 2014. 

CBI officials, who questioned former RBI deputy governor H R Khan on Friday, wanted to understand from him why the gold scheme (that allowed private players to import gold) was rushed through without taking into the account the impact and potential misuse. Khan was in charge of the central bank’s foreign exchange department for five years till 2016. 

The questioning, sources familiar with the developments said, was in connection with