SBI Dividend: The country’s largest government bank State Bank of India has given dividend to the government for the financial year 2022-23. On Friday, the check of this dividend was handed over to Finance Minister Nirmala Sitharaman. On behalf of State Bank of India, SBI Chairman Dinesh Kumar Khara handed over a dividend check of Rs 5740 crore to Finance Minister Nirmala Sitharaman yesterday. The special thing is that this is the biggest dividend till date.
This effect was tweeted from the official Twitter handle of the Finance Minister’s office. It was written in the tweet that “Dividend check of Rs 5740 crore was received for the financial year 2022-23. This is the highest ever dividend given by the State Bank of India to the Government of India for any financial year. This dividend check was received on behalf of Dinesh Kumar Khara. Finance Minister, SBI Chairman along with Financial Services Secretary Vivek Joshi were also present on this occasion.”
SBI had declared a dividend of Rs 11.30 per equity share (1130 per cent) on March 31, 2023. The country’s largest public sector bank SBI has also given Rs 17,648.67 crore as tax to the government in the last financial year.
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UTI Mutual Fund’s sponsors SBI, Punjab National Bank and Life Insurance Corporation of India have started the process of reducing their stake in the country’s oldest fund house UTI Mutual Fund. According to sources, these units have approached merchant bankers for advice on stake sale.
SBI’s profit has also increased
According to a report, during the last financial year (2022-23), the profit of public sector banks i.e. PSBs collectively crossed Rs one lakh crore. In this, almost half the stake was of the country’s largest bank SBI. This means that the profit earned by 11 other public sector banks together is almost equal to that earned by State Bank of India alone.
