You're free to move to your own "Kalisa" Island and experiment with such a system in your own country.
BTW How do you bankroll around $3billion dollars a day to thousands of companies. Put all the banks together and they can't fund it. Without interest you can't make a profit of the lending. Good luck to you financial experiments.
1. In modern times the Libyan Jamahiriya ( Libya until 2011 ) had a system-owned bank system ( no private banks ) that lent without interest. Worked well enough.You say that banks should give loans but charge no interest. How will this work?
2. What is this number of three billion dollars a day ?
The system owns the building and arranges for the salary of its employees. Doesn't the Indian government own the SBI bank and pay its employees too ?How will banks pay salaries to its employees or pay rent on the building etc.
Further, if you consult my economic system proposal the money is just a means of shuffling and obtaining resources, nothing to be so involved and worried about.
You are describing the complicated current system where working capital is not available for various reasons especially for small companies like you describe. Refusal by banks for loans complimented by existence of the stock market. This exists within the larger complicated and wrong socio-economic system. Now if the bank is part of an evolved socio-economic system and exists not to make profit ( traditional money being an artificial construct after all ) but to give loans ( non-interest-based ) to be repaid comfortably then the company can simply go to the bank for working capital. No need for the stock market to exist.Even if we assume that any company can take loan from bank, banks do need certain collateral as mandated by govt. Small firms often have little to offer as collateral, plus their level of risk is high enough for banks to decline loans. For these firms, stock markets are the best source to gain funds. Even large firms need to at times manage their debt levels, so they go for stock funding. I do not understand the harm in it.
There is demand in India for motorcycles and dog clothing as well but doesn't mean they are right.There is a demand for it, then there will be businesses that would cater to those demands.
Years ago some reporter asked Elon Musk what is the business plan for Mars. He said there is none. I think he meant for the moment. Mars may not give immediate returns in India like a car company that sells to the millions of middle class but cars in India are harmful to the country and the world in various ways. The technologies developed for the Mars program will have spin-offs, meaning these technologies will have applications for ordinary and non-ordinary uses on Earth. Just yesterday I was watching YouTube vids of the three-day international space conference organized online by ISRO and one participant spoke of spin-offs from one of the ISRO departments which was involved in IIRC the food and life support system of the Gaganyaan program. We go to Mars in the spirit of adventure but who knows what minerals we may find to exploit there. As it is there are countless asteroids in the Asteroid Belt between Mars and Jupiter and where this is countless mineral wealth waiting for exploitation for Earth and wherever humans will go. Mars orbit can be the staging post for journey to the Asteroid Belt. Don't mining companies from around the world, including India, have mines elsewhere like in Australia or Africa and even under development for under-sea mining ?Similarly, why do you want to land n number of Indians on mars, and why fund a startup that's planning on it? How do you plan to generate revenue over a project that may or may not take off or before cheaper options available? The former one has more chances of giving returns than this science project.
And then there is the important point about making humanity multi-planetary for the sake of continuing it in case Earth has a planetary disaster of various kinds. For example just today I read of a Brazilian astronomer videographing a big explosion in the atmosphere of Jupiter probably because of an asteroid crashing into it. Can happen to Earth too since there are quite a few Near Earth Objects who are potential threats. In 2013 an asteroid passed through Russia's skies and part of it crashed into a lake there. The asteroid wasn't detected until its point of atmospheric entry because it came from the direction of the Sun. You can watch that asteroid's / meteor's vids on YT.
So if I was a visionary investor I would invest in an Indian space startup instead of in a dog-friendly restaurant. I will be among the first movers in getting long-term big profit ( in Capitalist terms ) instead of short-term profit in something that is currently popular but may not remain so if the social and political system is changed.