Are there any mutual funds in India that follow Sharia law?

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Kapil Bhatnagar

Added an answer on 06 September, 2018

Yes, Tata Mutual Fund has launched a mutual fund in India named as Tata Ethical Fund which follows the Sharia Law while selecting the stocks. This fund does not invest in the companies of finance, alcoholic beverages, gaming/casinos, non-halal food products and conventional financial institutions. Companies with higher debt to equity ratios are also avoided by this fund.

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