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The SBI handed over a check of Rs 6,959,00,00,000 to the government, is it true?

Sagar Patel

By Sagar Patel

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The SBI has given a huge check to the government as a dividend.

After the Reserve Bank of India, the State Bank of India, the country’s largest government lender, handed over a huge check to the government. Well, this check is not as big as the RBI, but it is not smaller either. In fact, this check given by the SBI is a dividend given to the government. On the other hand, Bank of Maharashtra has announced that it will give a huge amount of dividend to the government. However, the Central Bank had announced that it would donate Rs 2 million to the government. The huge amount of money the government will receive from the banks will solve many of its problems. Let’s see how much dividend check the SBI and BOM have given to the government.

How much dividend did SBI give?

The country’s largest bank SBI on Friday handed over 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 check to Finance Minister Nirmala Sitharaman. Financial Services Secretary Vivek Joshi was also present on this occasion. The Finance Ministry wrote on social media platform SBI paid a dividend of Rs 13.70 per share during the last financial year. This is more than the dividend of Rs 11.30 per share given last year. The bank’s consolidated net profit in 2023-24 stood at a record Rs 67,085 crore, up from Rs 55,648 crore in the previous year.

How much dividend did BOM give?

On the other hand, State of Maharashtra (BOM), one of the big public sector banks, on Friday handed over a dividend check of Rs 857 crore to Finance Minister Nirmala Sitharaman, BOM MD Nidhu Saxena and to CEO Ashish Pandey. to the Minister of Finance. Financial Services Secretary Vivek Joshi was also present on this occasion. The bank has declared a dividend of Rs 1.40 per share (14 per cent) for the financial year 2023-24, BOM said in a statement. The Government of India owns an 86.46 per cent stake in the Pune-based bank. The statement said this dividend payment reflects the bank’s impressive financial performance during the financial year.

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Sagar Patel

Sagar Patel

I am Sagar Patel, specializing in business news reporting. With a keen focus on economic trends, market analysis, and corporate developments,

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