Four PSU banks pay Rs 6,481 crore dividend to Govt

Four PSU banks pay Rs 6,481 crore dividend to Govt

Four public sector banks, including Canara Bank and Indian Bank, on Wednesday presented dividend cheques worth Rs 6,481 crore to Finance Minister Nirmala Sitharaman for financial year 2023-24.

"Smt @nsitharaman receives a dividend cheque of Rs 2,514.22 crore for FY 2023-24 from Shri Debadatta Chand, Managing Director & CEO -@bankofbaroda," the finance ministry said in a post on X.

Similarly, a dividend cheque of Rs 1,838.15 crore was handed over by Canara Bank MD and CEO K Satyanarayana Raju.

Chennai-based Indian Bank paid a dividend cheque of Rs 1,193.45 crore for 2023-24.

Bank of India too paid a dividend of Rs 935.44 crore and the cheque was presented by its MD and CEO Rajneesh Karnatak.

In addition, Mumbai-based financial institution EXIM Bank presented a dividend cheque of Rs 252 crore for 2023-24.