Introduction on Interst Free Banking

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....ntroduction on Interst Free Banking <br>News and Press Release<br>Dated:- 27-3-2012<br><BR>Press Information Bureau Government of India Ministry of Finance 27-March-2012 18:29 IST The Reserve Ban....

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....k of India (RBI) has received references from the India Centre for Islamic Finance for introducing interest-free banking in the country in order to ensure inclusive growth with innovation in accordanc....

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....e with recommendations of the Raghuram Rajan Committee. RBI has informed that in the current statutory and regulatory framework, it is not legally feasible for banks in India to undertake Islamic ba....

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....nking activities in India or for branches of Indian banks abroad to undertake Islamic banking outside India. This information was given by the Minister of State for Finance, Shri Namo Narain Meena ....

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....in written reply to a question in Rajya Sabha today. DSM/SS/Hb<BR> News - Press release - PIB....