what is meant by retail banking give a detailed explaination.?

Answer 1

Retail banking is typical mass-market banking where individual customers use local branches of larger commercial banks. Services offered include: savings and checking accounts, mortgages, personal loans, debit cards, credit cards, and so forth.
This is very different from wholesale banking.
the part of a bank's operations providing services at its branches for small (in bank terms) account holders is called Retail banking.

Answer 2

Retail Banking is the opposite of Corporate Banking. Generically, retail banking deals with consumers and their needs, like savings accounts, consumer loans like car, property loans etc. These days, there are also investments related products.

Depends on what context you use, if you are refering to high net worth clients, retail banking usually refer to private banking, where in house structured financial services are provided and of course some personal bankings.

If you refer to the mass, consumer market, retail banking would be the saving accounts, application of loans from the bank outlets in the malls.

Corporate Banking are financing for companies like IPO, fund raising etc.

Answer 3

Saving account is the best example of retail banking. Car financing, house loans, accepting payments of utilities are also included into retail banking but category won't include such facilities into retail banking