Why doesn't India have Islamic Banks?

A : India has many international banks like say, State Bank of India which has all the licenses required to do international business. read more

The article attributes the absence of radical Islam in India to Hinduism. It says India breaks the 'arc of Islam' in Asia: "In Asia as a whole, Islam forms an arc that includes the Philippines, Indonesia, Malaysia, southern Thailand, southern Myanmar, Bangladesh, Pakistan and Central Asian countries. read more

Whatever benefits Islamic banking may or may not have in its favour, public relations is not one of them. The Reserve Bank of India's recent nod to sharia-based non-banking financial houses met with resistance from the usual suspects. Objections to Islamic banking in India range from regulatory inertia and concern about the unknown to Islamophobia. read more