Retail Banking

What is retail banking?

• Banking services provided to large corporations

• Banking services provided to individuals

• Banking services provided to government entities

• Banking services provided to international clients

Which of the following is a common product offered by retail banks?

• Corporate Bonds

• Mutual Fund

• Fixed Deposit

• Treasury Bills

What is the full form of NEFT, a popular electronic funds transfer system in India?

• National Electronic Funds Transfer

• New Electronic Funds Transfer

• National Efficient Funds Transfer

• New Efficient Funds Transfer

Which organization regulates retail banking in India?

• Securities and Exchange Board of India (SEBI)

• Reserve Bank of India (RBI)

• Ministry of Finance

• Insurance Regulatory and Development Authority (IRDA)

What is the main purpose of a savings account in retail banking?

• To facilitate international trade

• To save money and earn interest

• To provide loans to businesses

• To manage government funds

What does ATM stand for in the context of retail banking?

• Automated Teller Machine

• Automatic Transaction Machine

• Automated Transaction Mechanism

• Automatic Teller Mechanism

Which type of retail banking account is primarily used for daily transactions?

• Savings account

• Fixed deposit account

• Current account

• Recurring deposit account

Which of the following is a loan product commonly offered by retail banks?

• Personal loan

• Commercial Loan

• Syndicated loan

• Overdraft Facility

What is a Cheque used for in banking?

• To invest in mutual funds

• To transfer funds electronically

• To instruct the bank to pay a specific amount from one account to another

• To apply for a loan

What does EMI stand for in the context of loans?

• Easy Monthly Installment

• Equated Monthly Installment

• Equal Monthly Income

• Estimated Monthly Interest