PSBs Pay 33% Higher Dividend During FY24

New Delhi: Dividend PSBs have risen by 33 per cent to Rs27,830 crore in FY24, indicating significant improvement in financial health of these lenders. PSBs declared a dividend of Rs27,830 crore to shareholders in 2023-24 as against Rs20,964 crore in the previous fiscal, registering an increase of 32.7 per cent, according to the government data. Of Rs27,830 crore total dividend, nearly 65 per cent or Rs18,013 crore was paid to the government towards their shareholding in FY24.

During 2022-23, the government received Rs13,804 crore as dividend from the public-sector banks including SBI. It is to be noted that 12 public-sector banks recorded the highest ever aggregate net profit of Rs1.41 lakh crore in 2023-24 against the net profit of Rs1.05 lakh crore in 2022-23, and earned Rs1.29 lakh crore in the nine months of the current financial year.