The correct answer is Retail Banking. Explanation & Key Takeaways: Retail Banking: • Retail banking in India has grown in leaps and bounds in the recent past. • The multiple products may include financial products such as deposits, insurance products (agency), investments etc • The retail banks are largely responsible to cater to the needs of the general public and take care of their daily monetary transactions. • Retail banking is involved in overseeing transactions of relatively smaller monetary value. • It stands for banking services in which banks cater to individual customers and offer services like savings accounts, transactional accounts, mortgages, personal loans, debit and credit cards. • The aggressive credit growth of PVBs to services and retail segments in the last few years – which surpassed the 30 per cent mark in 2018-19 – came down sharply, even as PSBs managed to hold on to market shares in the retail segment. • This fuelled consumption in these economies which set stage for the enormous growth seen in retail banking space.