GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which one of the following is a retail banking product?
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Home loans
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Working capital finance
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Corporate term loans
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Infrastructure financing
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Explanation:
Detailed explanation-1: -Working capital finance is a retail banking product.
Detailed explanation-2: -What Are Retail Banking Products? The retail banking products include checking accounts, credit cards, savings accounts, mortgages, debit cards, home equity loans, CDs, and personal loans.
Detailed explanation-3: -One of the most common types of Retail loans is a Housing Loan.
Detailed explanation-4: -Conclusion. Retail loans are loans taken by individuals from banks or financial institutions for personal use. These loans can be used for various purposes, such as buying a car, paying for education, renovating a house, etc. Retail loans are generally unsecured, meaning they do not require any collateral.
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