answersLogoWhite

0

Why doesn't India have Islamic Banks?

User Avatar

Cali Cruickshank

Lvl 10
4y ago

Want this question answered?

Be notified when an answer is posted

Add your answer:

Earn +20 pts
Q: Why doesn't India have Islamic Banks?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Islamic bank available in India or not?

Due to current government policies and banking act, it is not possible to run any Islamic bank in India. The government asked RBI (reserve bank of India) to make a feasibilty study for Islamic banking in India and RBI. Reserve Bank of India (RBI) constituted a committee in 2007 to examine the issue but viewed that Islamic banking cannot be offered by banks in India as well as the overseas branches of local banks under the present legal framework. Except a basic offering like current account, almost no other banking product in India can be modified to meet the conditions of Islamic banking. Most of the Islamic financial institutions are registered as Non-Banking Financial Company (NBFC) in India. You may find many such NBFC's running on Islamic principles in India in several states.


When the banks in India was nationalised?

banks in india was nationalised in 1969


What are the Activities of rural banking?

The goals of Rural Banks are to provide banking services to the rural/village population of India. Gramya banks or Grameen banks are banks in India that provide banking services for the rural population in India. There are a total of 32 Grameen banks in India.


How many Islamic banks are there worldwide?

501


When was The Story of Islamic Imperialism in India created?

The Story of Islamic Imperialism in India was created in 1982.


When was Students Islamic Movement of India created?

Students Islamic Movement of India was created in 1977.


Importance of rural banks?

The goals of Rural Banks are to provide banking services to the rural/village population of India. Gramya banks or Grameen banks are banks in India that provide banking services for the rural population in India. There are a total of 32 Grameen banks in India.


Which banks use Islamic principles in Pakistan?

bank Al-Islamic is only who give services according to Islamic principles.


How many pages does The Story of Islamic Imperialism in India have?

The Story of Islamic Imperialism in India has 126 pages.


What are the objectives of rural bank?

The goals of Rural Banks are to provide banking services to the rural/village population of India. Gramya banks or Grameen banks are banks in India that provide banking services for the rural population in India. There are a total of 32 Grameen banks in India.


What is the function of a rural bank?

The goals of Rural Banks are to provide banking services to the rural/village population of India. Gramya banks or Grameen banks are banks in India that provide banking services for the rural population in India. There are a total of 32 Grameen banks in India.


What is the purpose of the rural bank?

The goals of Rural Banks are to provide banking services to the rural/village population of India. Gramya banks or Grameen banks are banks in India that provide banking services for the rural population in India. There are a total of 32 Grameen banks in India.