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Retail, Wholesale and UNIVERSAL BANKING
What is the primary characteristic that distinguishes retail banking from wholesale banking?
Retail banking serves individual consumers and small businesses with standardised, high-volume, low-value products, whereas wholesale banking caters to large corporates, institutions, and governments with customised, low-volume, high-value transactions.
What is the minimum capital requirement for setting up a new Universal Bank in India as per RBI?
Rs. 1000 crore minimum paid-up capital required.
Which RBI committee recommended the introduction of Universal Banks in India?
The Narasimham Committee (1991) recommended moving towards universal banking in India to enable banks to offer a full spectrum of financial services under one roof.
What is 'retail banking' also commonly referred to as in banking terminology?
Consumer banking or personal banking for individuals.
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