Banking sector facing many challenges: Gadkari


NAGPUR, July 20: 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.

Gadkari further said that it was incumbent upon banks

to ensure that loans sanctioned under various public welfare

schemes get disbursed quickly.

He also emphasised the need to encourage the handloom

and handicraft industry for creating employment opportunities

and boosting growth in the MSME sector.

The minister said “Solar Charkha” cluster will be

launched in the cotton belt of Vidarbha from where export

quality ready-made garments will be manufactured.

“Solar Charkha” is the initiative of the MSME ministry

to ensure inclusive growth by generation of employment,

especially for women and youth, and sustainable development

through solar charkha clusters in rural areas.

Gadkari also talked about giving additional land to

HCL Technologies operating in Mihan (Multi-modal International

Cargo Hub and Airport at Nagpur). (PTI)