Personal Loan A new horizon in the sphere of Financial Services A comparative study between Banking and Non banking Financial institution

Abstract

newlineAcross the globe, retail lending has been a spectacular innovation in the commercial banking newlinesector in recent years. The growth of retail lending, especially in emerging economies, is newlineattributable to the rapid advances in information technology, the evolving macroeconomic newlineenvironment, financial market reforms, and several micro-level demand and supply side factors. newlineIndia too experienced a surge in retail banking. Retail loan is estimated to have accounted for newlinenearly one-fifth of all bank credit. Retail loans are those loans which are given by the financial newlineinstitutes to individuals so as to meet their personal needs. Retail loans are smaller in size as newlinecompared to corporate loans. Various types of retail loans are rendered to the customers today, newlineout of which personal loan has evolved as a new dimension in the field of retail banking.