After the Reserve Bank of India, the country's largest government lender, State Bank of India, has given a very big cheque to the government. Well, this cheque is not as big as RBI's, but it is not less either. In fact, this cheque given by SBI is a dividend to the government. On the other hand, Bank of Maharashtra has announced to give a huge amount to the government in the form of dividend. By the way, the central bank had announced to give Rs 2 lakh crore to the government. The huge amount received by the government from the banks will solve many of their problems. Let us see how much dividend cheque SBI and BOM have handed over to the government?
How much dividend did SBI give
The country's largest bank SBI on Friday gave a dividend of Rs 6,959 crore to the government for the financial year 2023-24. SBI Chairman Dinesh Kumar Khara handed over the dividend cheque to Finance Minister Nirmala Sitharaman. Financial Services Secretary Vivek Joshi was also present on this occasion. The Finance Ministry wrote on the social media platform X that SBI Chairman Dinesh Kumar Khara handed over a dividend cheque of Rs 6959.29 crore to Nirmala Sitharaman for the financial year 2023-24. SBI gave a dividend of Rs 13.70 per share for the last financial year. This is more than the dividend of Rs 11.30 per equity share given in the previous year. The bank's consolidated net profit stood at a record Rs 67,085 crore in 2023-24 as against Rs 55,648 crore a year earlier.
How much dividend did BOM give
On the other hand, Bank of Maharashtra (BOM), one of the largest public sector banks, on Friday handed over a dividend cheque of Rs 857 crore to Finance Minister Nirmala Sitharaman. BOM MD Nidhu Saxena and Executive Director Ashish Pandey handed over the cheque to the Finance Minister. Financial Services Secretary Vivek Joshi was also present on the occasion. BOM said in a statement that the bank has declared a dividend of Rs 1.40 per equity share (14 per cent) for the financial year 2023-24. The Government of India holds 86.46 per cent stake in the Pune-based bank. The statement said that this dividend payment reflects the impressive financial performance of the bank during the financial year.
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