New Delhi, Jan 05 (Agencies): Realising the magnitude of the Citibank fraud estimated at Rs 300 crore, the Reserve Bank of India on Wednesday said it will go into the entire gamut of the scam, even as it is being looked into by market regulator Sebi and the police.

"RBI is investigating the matter (Citi Bank fraud)," a key Reserve Bank source said.

Later, RBI Deputy Governor K C Chakrabarty said: "Every fraud is looked by regulator, where is the question that the Citibank fraud will not be looked at."

He was speaking to reporters on the sidelines of an event here.

As such, market regulator Sebi is investigating the fraud in Citi's Gurgaon branch, which saw diversion of depositors' funds in stock markets.

Several high networth individuals (HNIs), including promoters of Hero Group, were lured by Citibank's Relationship Manager Shivraj Puri, the main accused in the scam, into investing funds on promise of high returns.

Victims of the fraud have complained to the police that their securities were encashed without their knowledge.

Sanjeev Aggarwal, managing director of Helion Advisors, had on Tuesday filed an FIR with the local police, alleging he was cheated of his life's savings of Rs 32.43 crore in the fraud.

Besides senior officials of the bank, Aggarwal named Indian-born global CEO of the Citibank Vikram Pandit and Chairman William R Rhodes in the FIR that alleged criminal breach of trust, falsification of accounts, cheating and criminal conspiracy by the bank officials.

Citibank, however, dismissed allegations of involvement of its senior executives in the fraud.

The local police on Wedenesday ruled out the possibility of questioning Citibank's global CEO Vikram Pandit and other top honchos in connection with the scam.