-Scroll.in The Islamic financial system works on the principle of not charging interest. What is Islamic banking? Islamic banking is a banking system in accordance with the Shariat. In Islam, Money has no intrinsic value – Money, therefore, cannot be sold at a profit and is permitted to be used as per shariat only. The Islamic Law or Shariat prohibits paying any fee for renting of Money (called riba) for specific periods of...

-The Telegraph Lucknow: Puran Sharma needed cash to take care of his family's daily expenses. So he went to a health camp and got a vasectomy done. The 45-year-old day labourer returned home on Friday richer by Rs 2,000, though the Money didn't come in 20 hundred-rupee notes as he had hoped it would. The amount would be transferred to his bank account. If Puran was a tad disappointed, the Uttar Pradesh villager...

-The Hindu With grocers and cold storage owners refusing to accept scrapped currency notes, farmers are struggling to get potato seeds while landless labourers are forced to forgo their food. Chitra Bag and her family of six are eating less these days. They make do with one meal instead of the usual three meals, despite a gruelling 8-10 hours of work daily as landless farm labourers. Even though vegetables, grown around their...

-The Hindu Centre for Politics and Public Policy Prime Minister Narendra Modi's announcement demonetising high denomination notes on November 8, 2016, will do little to address the prime objective of flushing out black Money but will adversely affect the economy in the short term, especially the informal sector, which is predominant in India, says M. Govinda Rao, a Member of the Fourteenth Finance Commission and Emeritus Professor, National Institute of Public...

-The Times of India PANAJI: Goa is likely to become the first state in India to go cashless from December 31, as people will be able to buy perishables such as fish, meat, vegetables or anything else at the press of a button on their mobile. There will be no need to carry your purse for purchases and the profession of pickpocketers may become extinct soon, as all transactions will be done...