RBI rejects the proposal of Islamic Bank
Megha Jain
Content Head
According to Sharia, the proposal to start a banking system called Islamic bank which introduced at the time of former RBI governor Raghuram Rajan, in which it was said that Interest is considered as wrong in Islam, because of which the backward class of society is away from banking. But the RBI has declined the scheme saying that all the citizens of the country have the right to financial services.
