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Viral Message: I had warned @OfficeOfRG & @PChidambaram_IN about frauds of Nirav Modi. But they forced me to remain silent and kept approving loans till May 2014. Why am I being blamed for the PNB scam now?: Raghuram Rajan
eMessage on – Social media and internet
Fact Check by Ayupp– Fake (Rajan might be aware of any upcoming scam but he never had given any warning in the public domain.)
Viral message example-
Is it True #RaghuramRajan had really warned @OfficeOfRG @PChidambaram_IN ldrs Abt Magnitude of #NiravModiFraud then why Shamelessly @INCIndia Raising False Cries blaming @narendramodi @BJP4India 4 Misdeeds of Plunder. Appl @HMOIndia pl @NIA_India Investigate Jailing BigFishes
Is it True #RaghuramRajan had really warned @OfficeOfRG @PChidambaram_IN ldrs Abt Magnitude of #NiravModiFraud then why Shamelessly @INCIndia Raising False Cries blaming @narendramodi @BJP4India 4 Misdeeds of Plunder. Appl @HMOIndia pl @NIA_India Investigate Jailing BigFishes pic.twitter.com/toe9GucLLH
— Col Som Sharma (@Voice_4_India) March 10, 2018
I had warned @OfficeOfRG & @PChidambaram_IN about frauds of Nirav Modi. But they forced me to remain silent and kept approving loans till May 2014. Why am I being blamed for the PNB scam now?: Raghuram Rajan, Ex-Governor, @RBI cc @Swamy39 @narendramodi @arunjaitley
I had warned @OfficeOfRG & @PChidambaram_IN about frauds of Nirav Modi. But they forced me to remain silent and kept approving loans till May 2014. Why am I being blamed for the PNB scam now?: Raghuram Rajan, Ex-Governor, @RBI cc @Swamy39 @narendramodi @arunjaitley
— Chitrakar (@sanvru) March 10, 2018
Viral Message Verification:- A message doing the rounds on the social media regarding the warning of Raghuram Rajan, Ex-Governor that he warned the congress party about the possible PNB scam, is not true. We did not find any information or any feed on any of the social media o the warning by the Ex-Governor.
However there is another social viral message that the, bullion body had warned Raghuram Rajan about 80:20 gold, Check before it’s too late.
The moneycontrol in it’s article published stated that “The jewellery industry had warned of an impending scandal in India’s bullion industry caused by former Finance Minister P Chidambaram’s controversial decision to allow 13 traders to import gold four years before the diamond merchant Nirav Modi and his uncle Mehul Choksi fled the country defrauding banks worth an estimated Rs 12,000 crore.
In a letter to the then Reserve Bank of India (RBI) governor Raghuram Rajan on July 26, 2014, the India Bullion and Jewellers Association (IBJA) had accused the previous UPA government of “deliberately yielding to the cronies” by changing the gold policy days before demitting office.
The association also asked Rajan to “make a prudent appraisal” of the decision and “check the loopholes before it was too late”
So it might be Rajan might be aware of any upcoming scam but he never had given any warning in the public domain.
The UPA government’s allowed 13 few select firms to import gold and sell these in local markets charging a decent premium and resulting in a spurt in final prices has snowballed into a major controversy in the wake of the Nirav Modi-PNB scam.
May 21, 2014
To
All Scheduled Commercial Banks which are Authorized Dealers (ADs) in
Foreign Exchange/ All Agencies nominated for import of gold
Madam/ Sir,
Import of Gold by Nominated Banks / Agencies / Entities
Attention of Authorised Persons is drawn to the Reserve Bank's A.P. (DIR Series) Circular No. 25 dated August 14, 2013; and the subsequent circulars, on the captioned subject.
Yours faithfully,
(C D Srinivasan)
Chief General Manager
Read: Import of Gold by Nominated Banks / Agencies / Entities