Request Details

Seeking response about RBI’s plan of Islamic Banking concept in India

BA396GSC
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Government level: Government of India (India)
Agency/Ministry: Reserve Bank of India (RBI)
Addressed to: Central Public Information Officer
Central Office Building (21st Floor), Shahid Bhagat Singh Marg, Fort, Mumbai, MH 400001
Date Created: Jan. 5, 2024
Last Updated: Jan. 9, 2024
Response Due Date: NA
Privacy Status: Public
Language: English
Status: Will Not File
No response yet:
Date Fulfilled: Still Pending
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Dear sir,

Kindly provide information about following

(A) If RBI is planning to start Islamic banking system in India (it is not allowed to pay and receive interest but rather it is based on profit sharing)

(B) If affirmative, are there any plans/steps/initiatives that have been taken in this direction

(C) If at all RBI intends to get into interest free and profit sharing banking system in India in near future