Union minister Nitin Gadkari on Saturday said that the banking sector was facing a lot of challenges on various fronts. Gadkari also listed ensuring transparency and giving returns on deposits as challenges before the banking sector.
Speaking after inaugurating zonal office of Indian Bank here, the Highways and Road Transport Minister said that people should also pay their dues to banks on time. "Prime Minister Narendra Modi has said that bank loans in the MSME (micro, small and medium enterprises) sector will be sanctioned in 59 minutes and it will be connected with GST and Income tax. Those having a good track record get their loans sanctioned quickly," he said.