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f:84 -    Accepting interest from Indian bank
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Question:     can us accept intrest from indian bank
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Answer:     Allah SWT has declared interest and Usury (Sud) as forbidden and business/selling as Halaal.  As given in Surah Baqarah:

That is because they say: "Trade is like usury, but Allah hath permitted trade and forbidden usury. Surah Baqarah (2:275)

About bank interest, there are different rulings for Islamic and Non-Islamic countries.  In Non-Islamic countries, Improper Sale (Bai Fasida) is permissible.  If in dealing with any non-Muslim, extra money is obtained without any cheating of any kind, then it is not called as interest.  That money is permissible and allowed.

In an Islamic country, money obtained from such a transaction is called interest and it is forbidden.  

As given in Hidayah, Vol. 3, Pg. No. 86.
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