Govt anticipates state-run banks to pay out $1.8 billion in dividends in FY25.
business-standard.com
India
07-02-2024
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In 2024–2025, the government anticipates receiving dividends from state banks totaling at least Rs 1500 crore ($1.8 billion), an increase of at least 8.7% from the projected Rs 1380 crore for the current fiscal year.
A senior finance ministry official stated that increased profits at India's state-run banks might result in dividends for the government of around $2 billion in the upcoming fiscal year, which begins in April. This is a significant increase from this year.
Prime Minister Narendra Modi has strengthened state banks since assuming office in 2014 by channeling about Rs 3.3 trillion ($39.7 billion) to recapitalize troubled banks and by combining weaker banks with stronger ones and enacting a bankruptcy law to collect money from defaulters.