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India a secular country, no intention of introducing Islamic banking: Naqvi

India is a secular country and the existing banking system is for all: Naqvi

ANI  |  New Delhi 

Mukhtar Abbas Naqvi
Mukhtar Abbas Naqvi

    RBI says won't pursue proposal to introduce Islamic banking in India

Union Minister on Sunday rebuffed the reports of introduction of in India, saying ours was a secular country and the existing was for all.

Naqvi's remark has come days after the (RBI) decided to not pursue a proposal for introduction of in the country, while replying to an RTI query.

"India is a secular country and the existing is for all. Therefore, we are not discussing anything on Islamic banking, neither are we planning to do so. There is neither any plan nor any proposal to allow Islamic banking," told ANI.

is a finance system based on the principles of not charging interest, prohibited under Islam.

First Published: Sun, November 26 2017. 16:47 IST