Islamic Banking Current Affairs, GK & News

India not to pursue Islamic banking: RBI

The Reserve Bank of India (RBI) has decided not to pursue a proposal to introduce Islamic banking in India. Decision in this regard was taken after considering wider and equal opportunities available to all citizens to access banking and financial services. Islamic banking Islamic banking is banking or banking activity that is consistent with the ..

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RBI proposes ‘Islamic Window’ in Banks

The Reserve Bank of India (RBI) has come up with a proposal for opening of ‘Islamic window’ in conventional banks for a gradual introduction of Sharia-compliant (interest-free) banking in the country. The move is aimed to ensure financial inclusion of some sections of society that remains excluded due to religious concerns.   Islamic banking is ..

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RBI proposes Islamic window in conventional banks

The Reserve Bank of India (RBI) has proposed the opening of Islamic window in conventional banks for gradual introduction of Sharia-compliant or interest-free banking in the country. In this regard, RBI has also prepared a technical analysis report and submitted to the Union Finance Ministry for its consideration. What is the issue? Islamic or Sharia ..

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Types of Banking

Various Types of Banking are as follows: Branch Banking Branch banking involves business of banking via branches. The branches are set up under Section 23 of Banking Regulations Act, 1949. A branch should cater to all banking services and include a specialized branch,  a satellite office, an extension counter, an ATM, administrative office, service branch ..

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