Retail banking - present scenario in Indian banking sector

Retail banking is when a bank executes transactions directly with individual consumers, rather than corporations or other banks as done in commercial banking and wholesale banking. Banking industry includes a number of segments such as corporate banking, investment banking, wealth management, etc. Retail banking is another segment of the banking industry. It is a typical mass-market banking characterized by a large customer base and a large volume of transactions. Public Sector Banks are adopting aggressive strategies, leveraging their branch network to harvest a large share of the retail market. Over the past few years housing sector is experiencing a boom in its availability of credit, followed by auto loan in Indian retail banking sector. Retail banking has immense opportunities in a growing economy like India. This paper discuss about the state of retail banking in India and further opportunities for escalation of retail banking in country for the prosperity of economy and optimum deployment of funds.