evidence: Rajan, who was RBI governor from 2013 to 2016, broke his silence on the scam after allegations were levelled against the 80:20 gold scheme rolled out in 2014. [...] In its letter, IBJA said that the RBI circular on May 21, 2014 had "sidestepped nationalised banks, which have been the backbone support of our bullion importing and jewellery exporting members by allowing certain private sector export houses to import gold up to two tonnes at one time, even for those who are not in the business of bullion and gold jewellery". Rajan also hit out at social media after a fake quote was attributed to him, which claimed that he had warned Congress President Rahul Gandhi and former finance minister P Chidambaram about Nirav Modi, and about financial irregularities at Punjab National Bank, during his tenure. "Social media has a habit of attributing complete rubbish to me," he said.