What is the 80:20 gold scheme: How it helped the likes of Choksi for round tipping of black money

Amidst the investigations into the Rs 12,000 crore PNB scam, the BJP has raked up a gold import scheme that was introduced by the UPA. The allegation is that the scheme introduced by the former finance minister of India, P Chidambaram had aided jewellers such as Nirav Modi and Mehul Choksi.

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Chidambaram pushed 80:20 gold scheme despite DRI warning on black money and laundering

Former Union Minister, P Chidambaram would find himself in a spot of bother after the Public Accounts Sub Committee sought a CBI probe against him for the controversial 80:20 gold import scheme. The PAC has alleged that Chidambaram had ignored objections of the Department of Revenue Intelligence.

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PNB scam: Raghuram Rajan was warned about 80:20 gold scheme by jewellery industry

A letter dated July 26, 2014, written by the India Bullion and Jewellers Association (IBJA) to the then Governor of the Reserve Bank of India, Raghuram Rajan had accused the UPA government of deliberately yielding to cronies by changing the gold policy days before demitting office.

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