Tag Archive | Banking
A) Macroeconomic fundamentals have dramatically improved in 2014-15
- Inflation has declined by over 6 percentage points since late 2013
- Current Account Deficit down from a peak of 6.7% of GDP (in Q3, 2012-13) to an estimated 1% in 2014-15
- Foreign portfolio flows have stabilized the rupee
- After a nearly 12-quarter phase of deceleration, real GDP has been growing at 7.2% since 2013-14, based on the new growth estimates of the
Recently SEBI has allowed four mutual funds to launch Sharia funds in India. However, RBI continues to find Islamic banking ‘inconsistent with the existing laws’.
Islamic finance industry has undergone a transformation in the last few years. Today it has started asserting itself as an alternate system of finance. This industry has made a mark by its rapid growth not only in Muslim countries but also in other secular and developed nations as well.