BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which type of loans have less prone to the risk of becoming NPA
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Retail loans
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Whole sale loans
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Gold loans
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Mortage loans
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Explanation:
Detailed explanation-1: -A Retail loan is generally provided to an individual by a certified financial institution, a commercial bank or a credit union to purchase property, vehicles or other assets such as essential electronics, etc. Retail loans are provided to individuals with a decent credit score.
Detailed explanation-2: -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-3: -Unsecured Loan These loans are always riskier from the bank’s point of view, but they are an essential tool in the business world for short-term funds.
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