Correct Answer: Correct answer is: (C) Retail Banking.
Exam Relevance: BPSC, UPSC, SSC, Banking Exams
Difficulty: Moderate
Concept notes: Retail banking involves providing financial services to individual customers, including issuing credit cards.
Common Mistakes: Students may confuse retail banking with corporate banking, which primarily serves businesses.
Explanations: Issuing credit cards is a key service offered by retail banks to individual customers. Retail banking focuses on providing financial products and services to individuals, such as savings accounts, loans, and credit cards. This distinguishes it from other banking services like corporate banking, which caters to businesses, and rural banking, which focuses on rural areas.
Option Analysis: - Option A: Microfinance typically involves small loans and financial services for low-income individuals, not issuing credit cards.
- Option B: Rural banking focuses on providing financial services in rural areas, not specifically issuing credit cards.
- Option C: Retail banking includes issuing credit cards as part of its services to individual customers.
- Option D: Corporate banking serves businesses and large corporations, not individual customers for credit cards.
Mnemonic: RBC - Retail Banks Credit
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