New Delhi, 8 July (IANS). Finance Minister Nirmala Sitharaman received dividend checks of Rs 5,304 crore from the government from three public sector banks for the financial year ended on 31 March 2025 on Tuesday.
The Finance Minister was given a check of Rs 2,335 crore for FY 2024-25 by Punjab National Bank MD and CEO Ashok Chandra in his North Block Office. At the same time, Rajnish Karnataka, MD and CEO of Bank of India, gave a check of Rs 1,353 crore.
The third check of Rs 1,616 crore for the financial year 2024-25 was handed over to Finance Minister Sitharaman by MD and CEO of Indian Bank.
Earlier, SBI and Bank of Baroda had given a check of dividend of Rs 8,076.84 crore and Rs 2,762 crore to FY 2024-25 respectively.
Public sector India’s top companies have recorded a strong increase in profits during the January-March quarter of 2024–25, which is expected to further strengthen the government’s fiscal state.
The country’s largest bank State Bank of India (SBI) and insurance company, Life Insurance Corporation of India (LIC), has recorded a net profit of Rs 18,643 crore and Rs 19,013 crore respectively during the January-March period.
SBI has a net profit of Rs 70,901 crore for the financial year 2024-25, while the net profit of LIC was Rs 48,151 crore.
At the same time, Coal India has recorded a net profit of Rs 9,604 crore in the fourth quarter of the financial year 2024-25.
In addition, in the January-March quarter, veteran government oil company Indian Oil Corporation (IOC) had made a net profit of Rs 7,265 crore. During this period, OnNGC also recorded a net profit of Rs 6,448 crore.
In the March quarter of FY 2024-25, NTPC recorded a net profit of Rs 7,897 crore, Power Grid Rs 4,143 crore and PFC Rs 8,358 crore.
-IANS
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