Four major public sector banks, including Canara Bank and Indian Bank, have collectively presented dividend cheques amounting to Rs 6,481 crore to Finance Minister Nirmala Sitharaman for the financial year 2023-24.
In a statement on X, the finance ministry announced, ‘Smt @nsitharaman receives a dividend cheque of Rs 2,514.22 crore for FY 2023-24 from Shri Debadatta Chand, Managing Director & CEO – @bankofbaroda.’
Canara Bank’s Managing Director and CEO, K Satyanarayana Raju, handed over a dividend cheque worth Rs 1,838.15 crore. Chennai-based Indian Bank contributed a dividend cheque of Rs 1,193.45 crore, while Bank of India, represented by its MD and CEO Rajneesh Karnatak, presented a dividend cheque of Rs 935.44 crore.
Additionally, the Export-Import Bank of India (EXIM Bank), headquartered in Mumbai, contributed a dividend cheque of Rs 252 crore for the fiscal year 2023-24.
This substantial payout reflects the robust financial performance of these public sector banks and their commitment to contributing to the nation’s economic growth.
