What is Retail banking?How does retail banking works?How many types of Retail banking of India
Retail banking: All the banking services that we enjoy from our bank including our personal accounts, saving accounts, loans, credit Card, debit card,and even online banking services drop under retail banking.In this article we will discuss, what is Retail banking? and how does retail banking works?.
The retail banking is the banking that is for the retail customers of the bank, which involves the general public. Retail banking doesn’t include large or multinational institutions. Even when you want to availing banking services online, you’re connecting with your bank on some level, accomplishing it a part of retail banking too.
How does retail banking works?
All retail banks are for the general populations to save and invest their money. Retail banks help public to handle regular needs by giving various services like bank accounts, credit cards, debit cards, fixed deposits, loans, and others.Online retail banking has made the transfer of money(Through IMPS/NEFT)and retailing easier for the retail customer.
Types of Retail banks
There are three types of retail banks in India-small banks, large bank and online banks.
Small banks:Small banks operates on a small scale with smaller deposits. These banks share in the market is much lesser than the large banks.
Large banks:Large banks is famous banks, operates in large cities.Everyone like the large banks for their features, online services,and customers supports.
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