BANKING AFFAIRS

Detailed explanation-1: -Retail banking offers deposit, access, and lending services to individuals. Commercial banking is another name for corporate banking, which offers banking services to businesses, governments, and other institutions.

Detailed explanation-2: -Retail lending is defined as closed-and open-end credit extended to individuals for household, family, and other personal expenditures.

Detailed explanation-3: -The Bank provides funds to our customers through Retail Loans for their personal needs such as home purchases, home repair, automobile purchases, pursuing education, medical care, and other consumer uses.

Detailed explanation-4: -Definition and Example of Retail Banking Retail customers are members of the general public. They’re taking care of their personal financial needs, unlike organizations such as governments or businesses that might need more complex services. Retail banks are designed to meet these needs.

Detailed explanation-5: -Operating account is NOT retail banking product.