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RETAIL ASSET PRODUCTS
What is a retail asset product in the context of banking?
Retail asset products are credit facilities extended by banks to individual customers and small borrowers, including home loans, personal loans, auto loans, and credit cards, as opposed to liability products which mobilize deposits.
What is the difference between a secured and unsecured retail loan?
Secured loans require collateral; unsecured loans do not require collateral.
Which regulatory authority governs retail lending norms in India?
The Reserve Bank of India (RBI) governs retail lending norms in India through its Master Directions and circulars on prudential norms, KYC, and fair practices code for lenders.
What is the maximum Loan-to-Value ratio permitted by RBI for home loans above Rs 75 lakh?
RBI permits maximum LTV of 75% for home loans above Rs 75 lakh.
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