Retail Banking In India, Important Notes

what is the meaning of retail banking

Retail Banking denotes banking products and services for Individuals and includes segments like Associations, Trust, Clubs, Foundations, Small business with Proprietary / Partnership Constitutions. Broadly all the non corporate segments (Non Manufacturers and non limited companies) come under Retail Banking.

Retail banking in India

Retail banking in india is not a new era in indian economy. Retail banking came in to focus around last few years of 19th century. it was always been prevalent in verious terms. in past typical products offered in indian retail banking sector were housing loans, consumption loans for purchase of durables, auto loans, credit cards and educational loans.
Retail Banking in India has been focused on 2 major activities.
1.Transaction banking
2.Credit Products

Products & Services under retail banking in india
Retail Banking Sector is characterized by three main fundamentals

• multiple products
• multiple channels of distribution 
• multiple customer groups 

-> multiple products includes deposits, credit cards, insurance, investments and securities, lockers etc.
-> channels of distribution contains call centre, branch, Internet and kiosk etc.
-> multiple customer contains Individuals, Trust, Clubs, Foundations, Small business with Proprietary / Partnership

about wholesale banking