Multiple choice

Opening the Saving Bank Account of a minor girl will be called as which of the following in Banking terminology ?

  1. Retail Banking

  2. Merchant Banking

  3. Institutional Banking

  4. Social Banking

  5. Corporate Banking
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A Correct answer
Explanation

Retail banking refers to providing banking services to individual consumers rather than corporations or institutions. Opening savings accounts for minors falls under retail banking as it's a service for individual customers. Merchant banking deals with corporate finance, institutional banking serves large organizations, social banking focuses on financial inclusion, and corporate banking serves businesses.

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