Public Sector Banks Present Rs 6,481 Crore Dividends to Finance Minister

Four public sector banks, including Canara Bank and Indian Bank, presented dividend cheques worth Rs 6,481 crore to Finance Minister Nirmala Sitharaman for the financial year 2023-24. The cheques were handed over by the respective managing directors and CEOs of the banks.

On Wednesday, four public sector banks, including Canara Bank and Indian Bank, handed over dividend cheques totaling Rs 6,481 crore to Finance Minister Nirmala Sitharaman for the fiscal year 2023-24.

The finance ministry announced that Smt. Nirmala Sitharaman received a dividend cheque of Rs 2,514.22 crore from Shri Debadatta Chand, Managing Director and CEO of Bank of Baroda. Similarly, Canara Bank's MD and CEO, K Satyanarayana Raju, handed over a cheque of Rs 1,838.15 crore.

Additionally, Indian Bank, based in Chennai, paid a dividend of Rs 1,193.45 crore, while Bank of India presented a cheque of Rs 935.44 crore through MD and CEO Rajneesh Karnatak. Mumbai-based EXIM Bank also contributed with a dividend cheque of Rs 252 crore for 2023-24.

(With inputs from agencies.)