24.11.2009 - India's 1st Islamic banking firms to be born by Christmas, may walk by Easter
From Financialexpress.com: Even as the Reserve Bank of India (RBI) is yet to give a formal nod, the country’s first heavy-duty Islamic banking financial institution may hum a tune on global business before the next Easter. The Non-Banking Financial Companies (NBFC) is proposed to be set up in Kochi before Christmas. The Kerala government and the NBFC’s NRI promoters are waiting for Union finance minister Pranab Mukherjee nod as he is expected to make the crucial decision on the NBFC’s operational dimensions this week.............................Full Article: Source