Islamic Banking
RBI was asked to provide details of steps being taken for the introduction of Islamic or ‘interest-free’ banking in India.
Nov 12, 2017
In late 2008, a committee on Financial Sector Reforms, headed by former RBI governor Raghuram Rajan, had stressed on the need for a closer look at the issue of interest-free banking in the country.
Some sections of Indian society have remained financially excluded for religious reasons that preclude them from using banking products with an element of interest.
Aug 30, 2016
Centre is working on modalities on interest-free banking
