Banking, Finance & Insurance

Hi, retail management is an important part of the banking sector. All transactions/banking that deal with individuals (and not companies) are called retail banking or consumer banking. This deals with raising funds from individuals (through investment products like FDs, bank accounts, mutual funds etc.) and also giving funds to individuals (through loans etc). 

With the huge customer base in India, this banking is very important. There are many banks in retail banking- nationalized banks like PNB, and State Bank of India, private banks like HDFC and ICICI bank and then foreign banks like Citibank and HSBC. SCOPE FOR RETAIL BANKING IN INDIA

• A round increase in economic activity.
• Increase in purchasing power. The rural areas have a large purchasing power at their disposal and this is an opportunity to market Retail Banking.
• India has 200 million households and 400 million middle-class population more than 90% of the savings come from the household sector. Falling interest rates have resulted in a shift. “Now People Want To Save Less And Spend More.”
• The nuclear family concept is gaining much importance which may lead to large savings, and large number of banking services to be provided is day-by-day increasing.
• Tax benefits are available for example in the case of housing loans the borrower can avail tax benefits for the loan repayment and the interest charged for the loan. You will earn not only money in this sector but also Name and fame with it.