India earned Rs 11,000 crore as dividend from PSBs in FY23, up by 27%
Leading the pack is the country's biggest lender State Bank of India with Rs 5,500 crore, up by 52 percent, from Rs 3,600 crore year-on-year, sources in the know told CNBC-TV18.
In the last financial year (FY23), the Narendra Modi government received Rs 11,000 crore to Rs 12,000 crore as dividends from public sector banks (PSBs), up by 27-38 percent, sources privy to the developments told CNBC-TV18.
Leading the pack is the country's biggest lender State Bank of India (SBI) with Rs 5,500 crore, up by 52 percent, from Rs 3,600 crore year-on-year (YoY), sources in the know told CNBC-TV18.
Also, SBI's dividend share in PSBs stood at 45-50 percent, sources close to the development said. In FY23, public sector banks reported Rs 1 lakh crore as Profit after tax (PAT).
Further, in the last financial year, the union government earned Rs 59,000 crore dividend from Central Public Sector Enterprises (CPSEs). The total dividend in FY23 from CPSEs and PSBs stood at over Rs 70,000 crore, according to multiple people familiar with the development.
First Published: Jun 6, 2023 7:09 PM IST
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