The Allahabad High Court has observed that it is difficult for an Indian woman to live alone after breaking up with her live-in partner. As per reports, while granting bail to a man accused of raping his live-in partner, who was already married to another man.
As per a report in Live law, justice Siddharth of Allahabad High Court remarked on 23 February that the Indian society, at large, does not accept live-in relationships, hence when such relationships break up, the woman is left with n other option but to file an FIR against the live-in partner.
In this case, a married woman had been in a live-in relationship with a man named Aditya. Aditya was arrested on November 24, 2022, on charges of rape under the pretext of marriage.
"It is difficult for a woman to live alone after breaking of #LiveInRelationship. The Indian Society at large does not recognize such relationship as acceptable. The woman, therefore, is left with no option but to lodge FIR against her live-in partner": #AllahabadHighCourtpic.twitter.com/v4IQn4HL5R
Aditya and the woman were in a live-in relationship for the past 1.5 years and the woman had reportedly become pregnant with his child. However, the woman alleged that Aditya refused to marry her and sent her intimate photographs to her husband. As a result, she got rejected by her husband too.
The accused Aditya had rejected the allegations and had submitted to the court that the complainant woman is an adult who had entered into a consensual relationship knowing the consequences of such a relationship. He had also rejected the allegation of the false promise of marriage saying he had never made any such promise.
While hearing both sides, the court observed that it is a case where disastrous consequences of a live-in relationship have come to the fore.
However, the court also noted down the ‘one-sided’ nature of the police investigation against the accused and granted bail to Aditya.
The woman in the case has 2 children with her husband.
After violence led by supporters of pro-Khalistan leader Amritpal Singh in Ajnala, where they were seen brandishing swords, the Punjab Police was quick to surrender as it decided to take back the FIR registered against Amritpal Singh’s close aid Lovepreet Singh Toofan. As Punjab police summarily surrendered to Khalistanis, the Chief Minister of Punjab was busy at a summit, claiming that the law and situation was under control in the state.
Speaking at the fifth Progressive Punjab Investors Summit, CM Bhagwant Mann claimed that the state of Punjab has the right environment and peaceful atmosphere to set up factories and plants here. “Our social bonding is very strong. All seeds can grow here except those of hatred. Our gurus have taught us brotherhood and harmony,” CM Mann ironically said as Khalistanis were getting the Punjab police to bend to their violent whims.
While Bhagwant Mann asserted that seeds of hatred cannot grow in Punjab, the recent sequence of events in Punjab and the “peaceful” protests staged by the supporters led by the Waris Punjab De leader suggests otherwise. It was seen how the supporters of Amritpal and Lovepreet Toofan carried out a “peaceful” protest using lathis, swords, and guns and attacked Punjab Police officers with sticks, and broke the barricades.
During the hours-long standoff and eventual takeover of the police station, the Punjab Police was compelled to give in to the demands of Khalistani Amritpal Singh. The Punjab Police agreed to release his aide Lovepreet Toofan on February 24.
While questions have been raised concerning where the Punjab CM was during the hours-long state of anarchy in the state, CM Mann has claimed that the law and order are under control in Punjab.
Notably, the complaint against Amritpal Singh and his associates was filed by Varinder Singh, a resident of Chamkaur Sahib. The complainant accused Amritpal and his gang of abducting and attacking him when he came to Ajnala for a spiritual event. Amritpal denied the accusations and claimed that the case was registered against him and his followers on the complaint of a “mentally unstable” person who had made derogatory statements against his jatha.
Earlier on Tuesday this week, when CM Mann was questioned by the media about Amritpal and rising radicalism in the state during a press conference, he answered the questions by describing the ‘social bonding’, Mohalla clinics and other works done by his government. He even said that had the law and order been in a bad state in Punjab, so many big companies would be coming here to invest.
Notably, on February 21, Amritpal Singh had issued a veiled threat to Home Minister Amit Shah saying that the latter will have to face a similar fate as that of Indira Gandhi. “Indira tried to suppress, what happened? Now Amit Shah can fulfil his wish and see”, he said.
The organization Waris Punjab De was established by Deep Sidhu, an actor-turned-activist. He gained popularity among pro-Khalistani elements during farmer protests. Sidhu died in a road accident in February 2022. Amritpal Singh was declared head of Waris Punjab De following Sidhu’s death. At that time, Singh was in Dubai. In September 2022, he returned to India and officially took charge of the organization. Since that day, he has been preaching Sikhism in Punjab and connecting with the youth. Armed guards accompany him everywhere, and there is a striking resemblance between how he preaches and how Khalistani terrorist Jarnail Singh Bhindrawale preached Sikhism during his initial days as a Sikh leader.
Coming down heavily on Congress leader Rahul Gandhi over his charge that the Trinamool Congress was in cahoots with the BJP, TMC leader Mahua Moitra on Thursday said her party was the only national alternative to the saffron party.
The TMC MP’s remarks came in response to Rahul’s claim on Wednesday that the ruling party in West Bengal was contesting the Meghalaya Assembly polls to ‘help’ the BJP win.
At a public meeting on Thursday in support of the TMC candidate from North Shillong, Elgiva Gwyneth Rynjah, Moitra said, “Had the Congress been able to defeat the BJP, there would be no need for us (to contest the Assembly polls). However, since Congress failed to win the state, we had to step forward to provide an alternative to the people. The TMC is the only alternative (against the BJP).”
“Are we supposed to sit at home and watch the BJP win another general election while the Congress continues to lose state after state?” she added.
Exhorting women voters to get behind the party’s North Shillong candidate, Moitra said, “We have the power (to make a change). Let all the male votes be divided. If all the women vote for Elgiva, we will win (North Shillong).” The TMC MP further said the party’s manifesto for the upcoming Assembly polls was written and published by the party’s North Shillong candidate herself, the party stated in an official release.
Further, as per the release, the TMC, in its manifesto, has promised to work for women’s empowerment and build a working women’s hostel, a women’s police station, and women’s self-help groups, if voted to power.
(This news report is published from a syndicated feed. Except for the headline, the content has not been written or edited by OpIndia staff)
India on Thursday exercised it’s ‘Right of Reply’ at UNGA against Pakistan and advised Islamabad to look at its track record as a state that provides safe havens to terrorists.
At the United Nations General Assembly Eleventh Emergency Special Session, Indian Counsellor Pratik Mathur said, “Pakistan has only to look at itself and its track record as a State that harbours and provides safe havens to terrorists and does so with impunity.” He also advised the Pakistani delegation to refer to the numerous Right of Replies that India has exercised in the past.
Mathur said, “I am taking the floor to say that India chooses this time not to respond to Pakistan’s mischievous provocations. Our advice to the delegate of Pakistan is to refer to the numerous RoRs that we have exercised in the past.”
Calling out Pakistan’s uncalled-for provocation “regrettable”, Mathur also said that after two days of intense discussions, all the members present in the UN have agreed that the path of peace can be the only path to resolve conflict and discord.
India’s most wanted Pakistan-based Lashkar-e-Taiba’s (LeT) deputy chief Abdul Rehman Makki was designated as “global terrorist” in January India had made listings of Pak-based terrorists a top priority of its UNSC tenure during 2021-22. A total of five names — Abdul Rehman Makki (LeT), Abdul Rauf Asghar (JeM), Sajid Mir (LeT), Shahid Mahmood (LeT), and Talha Saeed (LeT) — were submitted by India for designation under 1267 in 2022.
Each of these five names was initially placed on technical hold by one member state (China) while all other 14 members of the Council agreed to their listing. In 2020, a Pakistani anti-terrorism court convicted Makki on one count of terrorism financing and sentenced him to prison, acccording to the US State Department.
Earlier in this month, India’s Indus Commissioner issued a notice to Pakistani counterpart to notify a date for the commencement of interstate bilateral negotiations to rectify an ongoing material breach of the Indus Water treaty, Ministry of External Affairs spokesperson Arindam Bagchi said on Thursday. He further said that India is not involved in the process of the arbitration court.
“We have issued rather our India’s Indus Commissioner issued a notice on January 25 for modification of the Indus Water Treaty of 1960 to his Pakistani counterpart. This notice was issued with the intent to provide Pakistan an opportunity to enter into government-to-government negotiations, to rectify an ongoing material breach of the treaty. We have called upon Pakistan to notify a suitable date for the commencement of interstate bilateral negotiations under article XII (3) within 90 days,” Bagchi said in response to a question on India’s notice to Pakistan for amendments to the Indus water treaty.
“I am not aware of a response from Pakistan as of yet. I am not aware of any response or comment by the World Bank,” Bagchi said.
He added by saying that India is not participating or involved in the process in any way, in response to a media query on New Delhi’s position on the arbitration court.
India issued notice to Pakistan on January 25 for modification of the Indus Waters Treaty (IWT) of September 1960 after Islamabad’s actions adversely impinged the provisions of the treaty, according to sources.
Indian cricketer Umesh Yadav’s father Tilak Yadav passed away on Wednesday at the age of 74 after battling a prolonged illness in Nagpur.
The pacer’s father had been ill for the past few days and was being treated at a private hospital in Nagpur. Tilak Yadav was a native of the Deoria district of Uttar Pradesh and a retired employee of Valni Coal Mine.
He settled in Khaparkheda near Nagpur after securing a job in the Valni coal mine. Apart from Umesh Yadav, Tilak Yadav has two sons and a daughter. The names of the other two sons are Kamlesh and Ramesh. Tilak Yadav was cremated at Kolar in Nagpur.
Despite being a consistent member of India’s Test team, Umesh has only had a few opportunities to play throughout the years. He has so far represented India in 54 Tests, 75 ODIs, and seven T20 Internationals.
He is also competing in the ongoing Border-Gavaskar Trophy, which the Indian team leads with a score of 2-0. Despite not appearing in any of the games, Umesh is still a vital member of the team.
In the Test series against Bangladesh last December, he made his final appearance for India. He participated in both games, in Chattogram and Mirpur, and took 7 wickets overall over the course of 4 innings.
(This news report is published from a syndicated feed. Except for the headline, the content has not been written or edited by OpIndia staff)
Supporting the law against triple talaq, Kerala Governor Arif Mohammed Khan on Thursday lashed out at Chief Minister Pinarayi Vijayan for questioning the triple talaq law bought by the Modi government and said that triple talaq is mentioned nowhere, not even in Quran.
Kerala Governor’s reaction came days after the CM criticised the BJP-led government at the Centre over the Triple Talaq law, questioning why the practice of instant divorce among Muslims was “criminalised when divorces happen in all religions”.
Speaking to ANI, Khan said, “Whatever CM said is his own opinion. But Triple talaq is no more an issue, the law was implemented in 2019. Divorce rates have come down by more than 90 per cent. A lot of women and children’s future has become secure. If somebody has a problem with it what can I do.”
He further said that triple talaq is not even mentioned in the Quran.
“Divorce is everywhere, even among Muslims. But triple talaq is mentioned nowhere and there is no mention of triple talaq in the Quran. So when legislation was made about Triple Talaq, a provision was made for giving 40 lashes to the person. Since then it has been considered a criminal matter. But nowadays you cannot give 40 lashes, so there is a provision for jail,” he said.
CM Vijayan had questioned the law against triple talaq and said why triple talaq has been brought under the purview of the law only for Muslims and has been brought under the category of crime.
“While divorces take place in all religions, it is only the Triple Talaq that was criminalised (through the law). Why is it a criminal offence for Muslims alone? All other divorce cases are seen as civil matters in court. However, if it’s a case of divorce between a Muslim couple, then that person (husband) can be sent to jail (for pronouncing Triple Talaq to his spouse),” the Kerala CM had said.
On CM’s statement that the state government will not implement the Citizenship Amendment Act (CAA) in Kerala, Governor Khan called his remarks as Vijayan’s personal opinion.
He also supported the CAA and said, “The statement given by the CM regarding the CAA that we will not allow it to be implemented in Kerala is his opinion. He is free to speak his opinions but nobody can stop the nation’s law from getting implemented.”
Vijayan had said that the CAA, a legislation brought by the Centre to facilitate grant of citizenship to minority Hindus, Sikhs, Christians, Jains and Parsis from Pakistan, Afghanistan, and Bangladesh, would not be implemented in Kerala “at any cost”.
“The Centre used religion to decide citizenship through the Citizenship Amendment Act. We have already cleared our stand on it. We won’t implement it here at any cost,” Vijayan proclaimed.
(This news report is published from a syndicated feed. Except for the headline, the content has not been written or edited by OpIndia staff)
Argentina Minister of Economy Sergio Tomas Massa on Thursday sought India’s cooperation on the issues of a currency swap and developing software for digital payments with guidance from the National Payments Corporation of India. Union Finance Minister Nirmala Sitharaman has affirmed India’s cooperation.
Union FM Sitharaman and the Argentinian Minister met ahead of the first G20 Finance Ministers and Central Bank Governors (FMCBG) meeting in Bengaluru, on Thursday. The Ministers exchanged views on priorities under G20 Indian Presidency with Argentinian support to India during its G20 Presidency.
During the meeting, Sitharaman also stated that India would take forth the momentum created by Argentina during its Presidency on infrastructure priorities, including spending on cities of tomorrow.
Both ministers looked forward to close cooperation on India’s G20 priorities including strengthening multilateral development banks (MDBs) and climate finance.
The second Finance and Central Bank Deputies Meeting under India’s G20 Presidency is underway in Bengaluru. The meeting began on Wednesday.
The first G20 FMCBG meeting will be spread over three sessions, covering issues such as strengthening multilateral development banks to address shared global challenges of the 21st century, financing for resilient, inclusive, and sustainable ‘cities of tomorrow’, leveraging Digital Public Infrastructure (DPI) for advancing financial inclusion and productivity gains, an official release said earlier.
Before this, the Union Finance Minister on Thursday also met Japanese counterpart Shunichi Suzuki, ahead of the first G20 Finance Minister and Central Bank Governors meeting.
According to a tweet posted by the official handle of the finance ministry, the ministers exchanged views on priorities under the G20 Finance Track 2023.
In one of the tweets, the handle also posted that “Both ministers looked forward to close cooperation between Japan as G7 Presidency and India as G20 Presidency on strengthening of multilateral development banks (MDBs), debt-related issues, financing cities of tomorrow and coordinated policy for crypto assets.”
The Japanese Minister also assured his whole-hearted support to India during the G20 India’s Presidency.
(This news report is published from a syndicated feed. Except for the headline, the content has not been written or edited by OpIndia staff)
On February 22, Rajasthan Police left out Gau Rakshak Monu Manesar’s name while talking about the accused in the case of the murder case of two Muslim men, Junaid and Naseer. Reportedly, their charred dead bodies were found in a burnt SUV, and an FIR was registered in the matter in which Manesar was named as one of the accused. Soon after, Monu Manesar released a video and proof that he or anyone of his team member was not involved in the murder case.
Hindu organisations, including Vishwa Hindu Parishad, Bajrang Dal and more, came in his support. Notably, Manesar is a Bajrang Dal leader and is actively involved in cow protection. For years, Manesar and his Gau Raksha (cow protection) team have saved hundreds of cows from the hands of smugglers and butchers. Manesar and his team received several death threats in the past and were warned not to indulge in cow protection. However, his team did not step back amidst threats and continued their work.
As Manesar’s name has been removed from the FIR, it is important to note how the whole ecosystem of Islamists and the Left vilified his name and tried to paint a target on his back just like they did to the former Spokesperson of Bharatiya Janata Party Nupur Sharma, and former BJP leader Naveen Jindal who are living under threat to their lives and Kamlesh Tiwari, Kanhaiya Lal, Kishan Bhardwad, RSS leader Sreenivasan and more who were brutally murdered. Because of such vile propaganda campaigns, Manesar has already received multiple death threats, and since the recent attempt to book him in a murder case, the threat has become more prominent. Speaking to OpIndia, Dr Surendra Jain said Bajrang Dal and VHP will continue to support Manesar and the activists associated with these organisations are not afraid of the threats.
Painting target on Monu Manesar
One of the most prominent names that led the propaganda campaign to paint a target on Monu’s back was none other than Alt News’ co-founder Mohammed Zubair. He is the same propagandist who started an international campaign against Nupur Sharma, as a result of which not only was she suspended from the party but had to go into hiding. The attack on Nupur Sharma had triggered riots in several places in the country, and Islamists killed several people just for supporting her.
Interestingly, Taslim Rehmani, who used derogatory language against Bhagwan Shiv, is living peacefully and continues in the media often. Sharma’s remarks were in reply to Rehmani’s comments. When Zubair shared the video of Sharma, he cunningly trimmed Rehmani’s comment and gave him a free pass.
Now, instead of calling out the menace that cow smuggling has created in the country and how cows that are holy to Hindus are being smuggled, butchered and tortured by smugglers, Zubair started a propaganda campaign against Manesar. In multiple long Twitter threads, Zubair not only handpicked photographs of Manesar but also opened a campaign against other members of his teams.
Zubair ran campaigns against Manesar. Source: Twitter
Zubair published his photographs with political leaders and police officials to insinuate that these prominent personalities threw Manesar’s alleged “crimes” under the rug. In an attempt to put Manesar in a bad light and force his supporters to back off, Zubair did everything in his unlimited and unhinged power. His threat on Manesar has received over 2 million views, over 7,600 retweets and over 18,000 likes.
Another thread on Manesar’s associate Raju Buhana has received 1.2 million views, 7,400 retweets and 17,500 likes.
However, unlike the case of Nupur, Manesar was lucky he was able to publish proof of his innocence, and his name was removed from the FIR. However, it is pertinent to note that the threat to Manesar’s life is not yet over. Those who are hungry for his blood and existence are going to continue to attack him.
The Wire’s propaganda journalist Arfa Khanum Sherwani ran a propaganda-filled campaign too, where she questioned tech companies like Meta for giving a platform to Manesar.
Arfa questioned tech companies for letting him use the platforms. Source: Twitter
The Jamia Times editor Ahmed Khabeer called him a terrorist. Someone who was falsely accused in a case was called a terrorist. Does it remind you of the case of Sadhvi Pragya Thakur?
Jamia Times editor called Manesar a terrorist. Source: Twitter
Congress sympathiser Tehseen Poonawalla ridiculed police for not arresting him.
Even though there is no evidence so far against Manesar, Tehseen decided to drag his name. Source: Twitter
Journalist Rajdeep Sardesai said, “‘Hindutva appeasement’ cannot be allowed to ‘normalise’ murder” and tried to run a media trial on Manesar.
Rajdeep claimed by saving Manesar “murder was being normalised”. Source: Twitter
Indian American Muslim Council also came running to vilify Manesar and the central government. They wrote, “Hindu militant leader Monu Manesar, who murdered two Muslim men and then burnt their bodies in India’s Haryana state, is often seen socialising with senior @BJP4India leaders. In these pictures, Manesar is clicked with India’s home minister, Amit Shah, and Anurag Thakur, Minister of Information. This nexus makes one thing very clear these killings have the backing of the ruling @BJP4India.
IAMC’s tweet against Manesar and union govt. Source: Twitter
Even though there is no evidence so far against Manesar, none of them is going to delete the threads of apologies for running campaigns against Monu Manesar. The threats on his life will continue to rise with the passing of time, and these actors will continue to paint targets on one Hindu after another.
Update: The Rajasthan police has issued a statement about the ‘clean chit’ given to Monu Manesar. They have said that there is no clean chit given to the Gaurakshak, despite no evidence against him. Full report can be read here.
The staff of the European Union (EU) are no longer permitted to use TikTok due to cyber security issues. On Thursday morning, Brussels executive directed the employees to remove the Chinese video-sharing app in an email issued to personnel of the European Commission. TikTok’s parent company, ByteDance, is of Chinese origin.
The email read, “To protect the Commission’s data and increase its cybersecurity, the EC (European Commission) Corporate Management Board has decided to suspend the TikTok application on corporate devices and personal devices enrolled in the Commission mobile device services.”
EU staff is asked to uninstall the app from their mobile devices by March 15. “As of 15 March, devices with the app installed will be considered non-compliant with the corporate environment,” the email continued.
Furthermore, they are not allowed to use the social media app on their personal phones or other devices that are running official programs.
The European Union’s other institutions, including the Council and the Parliament, are likely to follow suit and impose a ban on the Chinese app, albeit it might take a lot longer for the latter to do so.
Meanwhile, TikTok called the decision misguided. “We are disappointed with this decision, which we believe to be misguided and based on fundamental misconceptions. We have contacted the Commission to set the record straight and explain how we protect the data of the 125 million people across the EU who come to TikTok every month,” said the app’s spokesperson.
Concerns about Beijing’s access to user data have led to increased scrutiny of Chinese apps, especially TikTok, worldwide.
The app was prohibited from federal government devices in the US, and some US legislators are attempting to ban TikTok from operating in the country. Due to similar worries, the Dutch government last month warned public servants to avoid using the app.
The British Parliament’s TikTok account was closed in August after members of parliament who had been sanctioned by China voiced worries about data security.
In December of last year, French President Emmanuel Macron attacked the company, labeling it “deceptively innocent” and a reason for “serious addiction” among consumers.
In November, TikTok confessed that some employees in China have access to the data of customers in Europe.
Shou Zi Chew, the CEO of TikTok, met with EU representatives in Brussels last month for negotiations during which they cautioned TikTok to safeguard the security of the data of European users.
An EU spokesperson said, “He insisted the corporation was developing a ‘robust’ method for handling Europeans’ data in the same continent.”
India too has banned multiple Chinese apps, since the year 2020, including TikTok, for collecting critical private data and user information in the country.
On Tuesday, February 21, Nara Lokesh, the National General Secretary of the Telugu Desham Party (TDP) promised to establish an Islamic bank if the party comes to power in Andhra Pradesh.
After a two-day break, he began his padayatra, “Yuva Galam,” on Tuesday. Nara Lokesh spoke with Muslim community representatives in Srikalahasti, Tirupati district, and reminisced how N T Rama Rao, the TDP’s founder, established the Minority Corporation. Lokesh also claimed that CM Jagan Mohan Reddy has discontinued all the welfare schemes launched by the prior TDP government and promised to restore them if voted to power.
Following this, the Andhra Pradesh unit of the Bhartiya Janata Party (BJP) slammed the TDP leader calling the promise to set up an Islamic Bank an ‘ill-conceived’ move. In a statement released on Wednesday, the BJP leader Duddakunta Venkateswara Reddy said, “We want to know if Nara Lokesh actually knows anything about Islamic Bank.”
Claiming that even the Reserve Bank of India (RBI) has earlier opposed the proposal of setting up an Islamic Bank, the BJP leader asserted that “while the BJP is trying to unite the country divided on religious lines as the Central government is restoring the original names changed during the colonial rule to propagate a feeling of national unity, the TDP leader is talking about Islamic Bank.”
Moreover, Reddy stated that the TDP leader’s statement regarding Islamic Bank has hurt the sentiments of the Hindu community.
#IslamicBank…ఎందుకు..! షరియా చట్టం…! షరియా పాలన తీసుకొస్తామని హామి ఇవ్వండి…? @naralokesh గారు..? ఇంకా నయం @JaiTDP కి ఓట్లు వేయండి..! మా నాన్నను ముఖ్యమంత్రి చేయండి..! తర్వాత నన్ను ముఖ్యమంత్రిని చేయండి..! ఈ రాష్ట్రంలో మీకు షరియా చట్టాన్ని అమలు చేస్తానని చెప్పలేదు.! pic.twitter.com/BKluH6b7z3
— Duddakunta Venkateswara Reddy/వెంకటేశ్వర రెడ్డి (@DuddakuntaBJP) February 22, 2023
Islamic Banking
Islamic banking is a form of banking that complies with Sharia laws which prohibits charging interest or Riba. Islamic banking claims to offer interest-free banking and functions on the principles of the Quran.
The Islamic banking system needs to upsell goods in order to turn a profit. For instance, if a consumer needs a loan to buy something, the Islamic bank will buy it and resell it to the customer at a higher price. This loophole allows Islamic banks to earn profits from customers without really charging interest on loans or other payments.
A major concern regarding Islamic banking is that Islamic banks can grant or deny funds to customers depending upon their interpretation of the Quran. Such banks may also indulge in furthering radical Islamist propaganda by funding extremist activities.
Sharia Index and Sharia Mutual Funds
Interestingly, although RBI disallowed Islamic Banking, there are Sharia Index in India that can be defined as an index of companies that are compliant with the Shariah Law. These companies are screened by an authorized board before getting listed in the indices. In India, there are four main indices that index Shariah-compliant companies that are S&P BSE 500 Shariah Index, BSE Tasis Shariah 50 Index, the Nifty 500 Shariah Index, and the Nifty 50 Shariah Index.
In the market, there are also mutual funds that adhere to Sharia. The top three mutual funds in this category are Nippon India ETF Shariah Bees, Taurus Ethical Fund, and Tata Ethical Fund. Such Sharia-compliant funds mostly include those companies that adhere to the principles ordained under ’Halal’. Sharia-compliant mutual funds don’t invest in companies engaged in businesses not permissible under Islam, such as alcoholic beverage companies.
Controversies around Islamic Banking in India
A Shariah Complaint window, commonly referred to as Islamic Banking or Sharia Banking, was recommended by the Reserve Bank of India in 2016. The idea was scrapped later in 2017 after receiving severe criticism and the center’s lack of interest.
Mukhtar Abbas Naqvi, the minister for minority affairs, had remarked at the time, “India is a secular and democratic country, and the government will not permit Islamic banking.”
“The current financial system is open to all, and there are many government and scheduled banks. Thus, the government is not considering implementing the idea of Islamic banking. We have no intention of introducing Islamic banking, notwithstanding suggestions from some organizations and individuals,” he stated.
In 2016, an RTI was filed where a copy of the letter was sent by the Finance Ministry on the recommendations of the Inner Department Group regarding Shariah Banking. The Ministry rejected it under Section 8(1)(c) of the RTI Act.
The idea for Islamic Banking was first proposed in a report titled A Hundred Small Steps prepared by a high-level committee on Financial Sector Reforms headed by Raghuram Rajan in 2008.
Proposal for interest-free banking in Raghuram Rajan committee report
The report made a reference to Islamic banking although it did not use the terms Sharia-compliant banking or Islamic banking. It was stated that several religions forbid the use of interest-bearing financial instruments, which strongly suggests Islam since Islam is the only religion where receiving interest on money is prohibited.
Several cases wherein operators of Sharia-compliant Muslim Fund or ‘private’ banks have duped Muslims have been reported.
In January this year, a Muslim Fund operator in Uttarakhand’s Jwalapur ran away along with crores of rupees that were deposited by thousands of Muslims in the ‘Muslim Fund’. Abdul Razzaq, the accused in the case was running an interest-free transaction office in Jwalapur in the name of the Muslim Imdadi Fund for the last 10 years. Thousands of Muslims, including those in Jwalapur and the surrounding areas, have opened accounts with him and daily contribute a portion of their income to the fund.
Notably, a similar case was reported in Uttar Pradesh’s Bijnor in April last year, wherein Bijnor Police arrested a person identified as Mohammed Faizi. He had absconded after duping customers of the Muslim faith of crores of rupees in the name of a ‘Sharia-compliant Muslim Fund’ named Al-Faizan Muslim Trust.
