107 articles tagged “India”

No. No bank in Kolkata or West Bengal is Islamic, because the RBI licenses none. What exists: one interest-free cooperative branch at 25 Bright Street, online halal funds and screeners, and state minority loans that charge 6% to 8% interest.

No zakat on the home you live in or a flat you rent out; 2.5% of market value each year on a plot bought to resell; 2.5% on rent still held on your zakat date. The fatwas, worked sums and the 2026 nisab in rupees.

How an Indian Muslim builds a retirement corpus without interest: what to do with compulsory EPF, whether to use NPS or PPF, which Shariah funds to hold for decades, and how to draw the money down.

The only defensible halal stocks list for India is the Nifty50 Shariah constituent set, screened monthly by TASIS. The names and weights from the 30 September 2026 factsheet, the sector tilt, and how to buy them.

What an Islamic inheritance calculator should output for an Indian Muslim family: the Quranic fixed shares, the 2:1 residuary rule, hajb exclusions and three worked rupee examples, plus the Indian paperwork that follows.

Every National Savings scheme sold through India Post pays a government-declared interest rate, which makes NSC, KVP, Sukanya Samriddhi, PPF, RD, MIS and SCSS riba contracts. What to use instead.

Commission for a referral is a permitted ju'alah or wakalah arrangement, provided the product is halal and the promotion is honest. What Amazon Associates India and Flipkart actually pay, which niches fail, and the tax.

A car lease can be a halal ijarah if the lessor owns the car, bears ownership risk and charges no interest on arrears. We test Maruti Suzuki Subscribe, Ayvens and Orix against those conditions on their published terms.

Every mainstream Indian bond, from G-Secs and RBI Floating Rate Bonds to NCDs and 54EC bonds, is an interest contract, and no sukuk is listed for resident retail investors. What sukuk is and what to use instead.

How Indian Muslims calculate zakat on mutual fund units, listed shares, EPF balances and PPF maturity, with the two scholarly methods, the nisab test and what IndiaZakat's FAQ actually says.

Three zakat routes in India compared from the organisations' own pages: direct giving, IndiaZakat's zero-commission crowdfunding (about 2% gateway fee, 80G at 50%) and Zakat Foundation of India's trust model.

No Indian bank offers an interest-free loan; the route is membership of a credit society. How Al-Khair, Janseva and Bait-Un-Nas'r process a loan, the documents they list, and whether any accepts online applications.

Islamicly Gold sells 24K 999 gold from ₹100, vaulted under a named trustee and certified by Islamicly's scholar board. What the site publishes on custody, SIPs, selling and delivery, what it omits, and how it compares.

Commercial health insurance is a conventional contract, India has no takaful alternative, and most scholars allow cover under necessity. Where the line sits, IRDAI's standard products and Section 80D.

Whether an Indian Muslim can hold a credit card, what the RBI's 2022 card directions say about the interest-free period, no-cost EMI and minimum dues, and how BNPL and charge cards compare.

Bengaluru hosts India's only halal research firm with a named Shariah board, an interest-free credit society in Jayanagar and the country's main online will-maker. The city map by need: invest, borrow, buy, will, zakat.

SPUS (0.45%), HLAL (0.50%), SPSK and SPRE compared from the issuer pages, then the Indian mechanics: the USD 250,000 LRS limit, 20% TCS above ₹10 lakh, Vested's published fees, and when Shariah BeES is simpler.

Tata Ethical Fund is run as a Shariah-screened equity scheme with published exclusions, but its website does not name the certifying board or publish purification figures. What the fund pages actually show.

Seven Indian gold ETFs compared on physical backing, the gold deposit scheme clause, cash held in repo, and expense ratio, all from scheme documents. Tata Gold ETF gets a direct answer. No fund is Shariah certified.

No Indian bank offers an Islamic home loan. The routes that exist are society property finance, housing co-operatives, builder construction-linked plans and saving to buy. Who qualifies and what each asks for.

India's only interest-free business finance comes from co-operative societies, and some terms are published: Al-Khair's 8 and 16 to 18 percent service charges, Janseva's SHG model, Bait-Un-Nas'r's micro finance.

Most of the Section 80C menu is interest or insurance. Here is what a salaried Indian Muslim can actually claim, what the new tax regime changes, and when it is cheaper to stop chasing deductions.

Tata Ethical Fund (0.61% direct, SIP from ₹100, no demat) against Nippon India Shariah BeES (0.96%, one unit on NSE, no exit load): costs, benchmarks, certification, purification and overlap from the scheme pages.

Finispia shows a stock's halal status under Dow Jones, FTSE, S&P, MSCI and AAOIFI rules at once across 90 exchanges, with a free tier. What is free, what is paid, what it lacks for Indian users, and how it compares.

Where a Hyderabad Muslim actually borrows, invests, banks and gives without interest: the Seva co-operative's four city branches via Sahulat, SenSage and Vivekam for investing, and the honest gaps. Only verified facts.

Riba is sood in Urdu and byaj in Hindi: a stipulated excess on money lent or deposited for time. We map savings interest, FDs, EMIs, credit cards, EPF, rent and trade profit to riba or not, using RBI definitions.

A gold loan from Muthoot, Manappuram or a bank is an interest-bearing loan secured by a pledge of jewellery. The pledge is permissible; the interest is not. What lenders publish, and what to do instead.

A lifetime gift (hiba) lets an Indian Muslim transfer any share of property to anyone now, where a will is capped at one third. What hiba requires, how it differs from a will and fixed shares, plus tax and registration.

A goal-by-goal decision table for salaried Indian Muslims: Shariah mutual funds, the Shariah ETF, screened shares, gold, property and co-operative deposits, with the tax rules that apply to each.

Intraday on screened stocks with your own cash is contested; futures, options, MTF and short selling are not. The verdict by trading style, with the interest rates Zerodha and Groww publish on MTF.

Writing, checking or witnessing an interest contract is prohibited by the hadith every scholar cites. Whether a cashier, IT engineer or guard at an Indian bank falls under it is where the fatwas split. Role by role.

What an Indian Muslim can do with a lump sum instead of a bank fixed deposit: current accounts, co-operative society deposits, gold, Shariah funds and the ETF, matched to how long the money can wait.
Indian Muslims trade crypto in large numbers while scholars dispute its status. The arguments on both sides, India's tax rules, and a framework for deciding.
Education loans carry interest, and education is the community's biggest investment. How to fund school and college halal: planning, scholarships, zakat and qard.
PPF is India's favourite tax-free savings scheme, and its return is government-set interest. What scholars say, what to do with an existing account, and alternatives.
India has no Islamic banks and no halal mortgage. Families still buy homes without riba, using strategies that work. Here is each one, with its honest trade-offs.
Car loans are the default in India, and every one of them runs on interest. The real halal paths to car ownership, from cash strategy to societies and instalments.
A state-backed Shariah NBFC, India's first certified real estate fund, and one of only two TASIS-verified PMS products: Kerala built all three. The story of India's halal finance laboratory, told from the verified record.
Screen out the banks and what remains is IT, pharma and consumer stocks. Why every Indian halal portfolio carries the same concentration, what it did to returns in the year to June 2026, and the honest ways to manage it.
Gulf-based NRIs built much of India's halal finance story, but the NRI account architecture is interest-bearing by default. What the verified record supports: the account workarounds, one PMS with documented NRI onboarding, and honest gaps.
RBI rules make the current account the one deposit in Indian banking that pays no interest by law. How the rules work, who can open one, and why the famous 'interest waiver instruction' does not exist.
Indian law forces savings accounts to pay interest. The documented practice: keep balances lean, track the interest line, and give it to the poor without intention of reward. The complete purification mechanics.
NRE and NRO savings and deposits all pay interest by law. The interest-free option for NRIs is the NRO current account, plus fast routing into screened investments. The honest guide for the Gulf remittance corridor.
Al-Khair documents moneylender rates of 60 to 120 percent a year in the communities it serves. Its own one-time charges run 8 to 18 percent. The comparison that explains why India's interest-free co-ops exist.
Janseva's founding resolution commits it to Quran and Sunnah within Indian law. Twelve permitted states, qard-e-hasanah deposits, a debt-rescue-first loan ladder and SHG microfinance. The full guide.
India's three most documented interest-free societies differ where it counts: geography, pricing transparency, product depth and doctrine. The side-by-side comparison, built from their own published terms.
Qard hasan is a loan repaid exactly as borrowed, with any excess for the lender prohibited as riba. What the contract requires, why it is hard to institutionalise, and how India's cooperatives actually apply it.
Interest-free does not mean free. Al-Khair's printed one-time charges of 8 to 18 percent annualise to roughly 16 to 32 percent depending on tenor. The honest arithmetic for every documented product.
India's interest-free societies charge 8 to 18 percent one-time, or annual-rate charges, on loans they call qard hasan. Cost recovery or riba in function? The debate, both sides, with no false resolution.
Motor third-party cover is mandatory under the Motor Vehicles Act, and employer health cover arrives with the job. Published fatwas permit compelled insurance. What counts as compelled, and what to do with claims.
Savings-linked insurance fails under every documented scholarly position, including the ones sympathetic to necessity-based term cover. Why the analysis is different, and what to weigh if you already hold one.
Muslim wills in India operate under the Shariat Act 1937: bequests capped at one-third, faraid governing the rest, and almost no formality requirements. The complete guide to making yours valid and enforceable.
When an Indian Muslim dies intestate, faraid distributes the estate by fixed shares, which is Islamic but not painless: no executor, no succession certificate shortcut, and disputes the deceased could have prevented.
How to calculate zakat in India: setting your lunar due date, measuring nisab against gold and silver prices in rupees, and working through cash, gold, investments and business assets at 2.5 percent.
Launched April 2020 by the Association of Muslim Professionals, IndiaZakat pairs India's most detailed zakat calculator with dual-screened cause distribution at zero commission. The complete review.
ZFI converts zakat into standing institutions: UPSC coaching with documented results, an orphanage, widow stipends and disaster relief since 2002. The complete review, including the fiqh position donors should understand.
Indian household wealth lives in gold ornaments, and the Hanafi position most Indian Muslims follow holds jewellery zakatable regardless of use. The rules, the carat mathematics and the school differences, honestly laid out.
Income tax does not discharge zakat, zakat is not deductible as zakat, and the two systems measure different things. How Indian Muslims run both obligations, including the 80G deduction that softens the overlap.
Five SEBI-registered firms run verified Shariah advisory or portfolio management in India, from Rs 5,000 monthly SIPs to Rs 50 lakh PMS mandates. The complete landscape, including who is certified by whom.
Yellow is the only mainstream Indian online will platform documenting Muslim personal law support. What the Custom Will delivers, what it costs, what it lacks, and how to use it for a valid wasiyyah.
A SEBI RIA dedicated 100% to Shariah-compliant advisory, with printed screening thresholds and strategies from Rs 1 lakh. The gap: a Shariah board its pages reference but never name. The full picture.
India licenses no Islamic banks, so avoiding riba takes a deliberate stack: zero-interest current accounts, purification on unavoidable savings interest, and the interest-free cooperative sector. The complete, honest playbook.
No interest-free cooperative society deposit in India carries DICGC insurance. What that means in practice, what protections members actually have, and how to assess a society before depositing.
Zoya explains what AAOIFI screening actually is, admits where scholars disagree, and updates compliance on real reporting cycles. For Indian users it is stocks-only and dollar-billed. Where it fits in an Indian toolkit.
A Muslim in India may bequeath at most one-third of the net estate, and Indian courts enforce that cap as law. Where the rule comes from, how the consent mechanism works, and what it means for planning.
Mumbai is the capital of Indian interest-free finance: Bait-Un-Nas'r's nine branches from Mahim to Mumbra, Janseva's Colaba headquarters, and fifty years of institutional history. The city guide.
Rs 169 a month to Rs 9,999 a year, TASIS-aligned to AAOIFI-based, named scholar boards to none at all. The five halal screening apps serving India, compared on the things that actually differ.
Published fatwas hold voluntary life insurance impermissible, but some scholars extend necessity reasoning to term cover for breadwinners because India has no takaful. The three positions, labelled by their real weight.
Deoband and Karachi's darul iftas agree on the decisive variable: whether the contribution was compulsory or chosen. What that means for your EPF, the VPF trap, and how purification actually works.
There is no halal insurance product in India. The real alternatives are self-insurance through savings, debt clearance, and household structures that reduce dependant risk, plus the contested term cover question, faced honestly.
Bihar is where India's interest-free cooperative model runs deepest outside Mumbai: Al-Khair's Patna headquarters and six Bihar branches, doorstep deposit collection, and printed loan prices. The regional guide.
Muslim wills in India need no stamp duty, no attestation formalities and no probate, which makes careful self-drafting legally viable. The step-by-step method, grounded in the documented legal mechanics.
India licenses no Islamic banks, so halal money lives in the capital market. This guide covers every verified option: funds, the Shariah ETF, PMS, smallcases, screening apps and gold, with real numbers.
India's only organised interest-free finance lives in cooperative law: members-only societies that pay nothing on deposits and lend against service charges. How the model works, and the protections it does not carry.
Model halal portfolios in your own demat account, below PMS money: two verified providers offer them. Zamzam's named scholar board versus Green Portfolio's administered purification, compared honestly.
India's Islamic broking pioneer no longer prints a verifiable SEBI registration, and no certified halal broker exists. Why that matters less than it sounds, and the settings that make any ordinary broker workable.
Business first, ratios second, purification always. The complete framework Indian investors need to judge whether a stock is halal, including the exact thresholds TASIS applies to NSE's Shariah indices.
Physical gold passes. Sovereign Gold Bonds fail on the RBI's own FAQ. Most gold ETFs are uncertified and some hold derivatives. The complete halal gold map for Indian investors, verified against primary sources.
IRDAI licenses zero takaful operators, Indian insurance law contains no takaful provisions, and investment regulations mandate interest-bearing assets. Why halal insurance is structurally impossible in India today.
Sahulat Microfinance Society is not a lender. It is the promoter, standard-setter and mapmaker of India's interest-free cooperative sector: 51 entities, 122 branches, 14 states as of March 2025.
The fatwa logic that permits EPF interest rests on compulsion, and NPS is chosen. Its schemes are not Shariah-screened and carry interest-bearing debt even at maximum equity. The honest analysis, and what to do instead.
Patna's Al-Khair is the most price-transparent interest-free society in India: published membership costs, doorstep deposits, and printed loan charges of 8 to 18 percent one-time. The complete guide with every caveat.
Established October 1976 with INR 11,635, Bait-Un-Nas'r now runs nine branches across Mumbai and Thane with five deposit schemes and five qard hasan loan lines. The complete guide, caveats included.
With no SEBI Shariah framework, India's Shariah indices are the de facto regulatory layer of halal equity investing. Here is how the Nifty50 Shariah, Nifty500 Shariah, Nifty Shariah 25 and BSE 500 Shariah actually work.
The world's largest Muslim-minority country licenses no Islamic banks. The reason is legal architecture, not theology: the Banking Regulation Act, an RBI examination that ended quietly in 2017, and a capital market that became the default home for halal money.
Running since May 1996, TASIS-certified, purification published, Rs 100 SIP entry. Tata Ethical Fund is the anchor of Indian halal investing. Here is what the numbers say, including the ones that flatter it less.
Taurus Ethical Fund prints exact screening thresholds in its SID and keeps idle cash out of interest-bearing instruments. It also carries the most awkward fact in Indian halal investing: TASIS publicly states it does not certify this fund.
One ticker gives Indian investors TASIS-screened large-cap exposure with no exit load and single-unit entry. It also gives them 17 stocks, a third of the weight in two IT names, and a Rs 55 crore book. The full picture.
The first new fund in India's ethical category in 15 years is beating its Shariah benchmark. It also publishes no Shariah board, no advisor and no certificate, and folds Jainism into its screen. Both halves matter.
SEBI licenses the advisers and RBI the NBFCs, but nobody licenses the certifiers. Inside TASIS, the Mumbai firm that functions as India's de facto Shariah standards body, and the ledger that lets you verify who is actually certified.
Even screened stocks earn slivers of interest, and that sliver reaches you through dividends. How purification actually works in India: the ratios, the calculators TASIS publishes, and what to do with the money.
India runs on SIPs: 94.5 million accounts and counting. The halal corner of that market now has real systematic options from Rs 100 a month. Here is every route, with minimums, costs and certification status.
A Shariah PMS with performance-only pricing and a retail smallcase with administered purification notifications, both monitored by Islamicly. What Green Portfolio does differently, and what rests on a screening platform rather than named scholars.
Three named scholars with published bios, a signed halal stocks list, and a 900+ stock screened universe. Zamzam Capital is the governance leader of Indian halal retail investing. Here is what it offers and where it is still young.
A TASIS-certified multicap PMS from an established Kochi brokerage, verifiable on the certifier's own ledger. What Geojit's Ethical Portfolio offers HNI investors, and what its page does not show.
The same TASIS universe that costs Rs 50 lakh to access through PMS is available at Vivekam from Rs 50,000 lumpsum or Rs 5,000 a month. The catch: a mixed conventional house and unprinted fees. The full picture.
The question answers itself once you read the RBI's FAQ: Sovereign Gold Bonds pay 2.50% fixed interest, semi-annually, on a debt security that tracks gold. That is riba, and no purification workaround exists.
Real estate income is the classic halal asset class, which makes REITs tempting. But no Indian REIT publishes Shariah certification, and the structures carry debt and interest. The framework for judging them honestly.
You do not need Rs 50 lakh or a scholar on retainer. A beginner can build a certified halal portfolio in India from Rs 100 a month. The step-by-step path, with real minimums and the mistakes to skip.
The complete list is four products: Tata Ethical, Taurus Ethical, Quantum Ethical and the Shariah BeES ETF. The comparison Indian investors actually need: certification status, real costs, returns and purification support.
The world's best-known halal robo-adviser launched in India around 2020 with plans for SEBI-registered advisory. In 2026, its country selector omits India and its Indian paths return errors. What happened, and who fills the gap.
The heaviest scholar board in the category, daily compliance updates with sell-by cutoff dates, and rupee pricing. Also the market's highest annual price and a growing storefront of cross-sold products. The full Islamicly review.
Nearly 5,000 Indian stocks screened, graded C- to A+ ratings, named-scholar governance and the lowest paid-plan price among major halal screeners. Musaffa reviewed for the Indian investor specifically.
The only screening app whose certifier also screens India's official Shariah indices, at the lowest paid price in the market, with free purification and zakat tools. Also a young platform with visible rough edges. Both truths, reviewed.
The Shariah-compliant share of BSE-listed stocks rose from 26% in 2021 to 44% in 2025. The data behind India's expanding halal universe, why TASIS counts fewer, and what the growth does and does not mean for investors.
The entire halal ETF shelf in India: one equity ETF (SHARIABEES) and whichever gold and silver ETFs pass TASIS's published screening. The complete list, the verification steps, and what does not exist.
The mutual fund structure is not the problem; the holdings are. Why most Indian funds fail Shariah screening, the framework for judging any scheme, and the short list that survives it.