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Kerala dances round Islamic banking

Wed, 2011-07-27 08:39 — newsdesk

Kerala Finance Minister K M Mani uncovered the plans for special counters to be opened in state treasuries to collect interest-free deposits, saying the state Government was ‘not against’ the idea of Islamic banking.
But it seems that inspite of this, the Reserve Bank of India and the central Government has pointed out loud and clear that Islamic banking may not be implemented under current legislation.

Source: 

http://www.cpifinancial.net/v2/News.aspx?v=1&aid=8752&sec=Islamic%20Finance