SBI pays Rs 6,959 crore dividend exchequer to govt

The country's largest lender, State Bank of India (SBI), has paid a dividend of Rs 6,959 crore for the financial year 2023-24 to the government. SBI Chairman Dinesh Kumar Khara presented the dividend cheque to Finance Minister Nirmala Sitharaman in the presence of Financial Services Secretary Vivek Joshi.

"Smt Nirmala Sitharaman receives a dividend cheque of Rs 6,959.29 crore for FY 2023-24 from State Bank of India Chairman Shri Dinesh Kumar Khara," the finance ministry said in a post on X.

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SBI declared a dividend of Rs 13.70 per share for the financial year 2023-24, higher than Rs 11.30 per equity distributed for the previous year.

Meanwhile, the Bank of Maharashtra (BoM) has presented a Rs 857 crore dividend cheque to Finance Minister Nirmala Sitharaman.

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The bank declared a dividend of Rs 1.40 per equity share (14 percent) for FY24, BoM said in a statement.

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