Public Sector Banks Set for Higher Dividends: Rs 15,000 Crore Payout Likely

  • Profit Boost: Public sector banks (PSBs) in India are poised to distribute higher dividends on the back of improved profitability.
  • Exceeding Expectations: PSBs are likely to pay dividends exceeding Rs 15,000 crore for the financial year 2023-24.
  • Record-Breaking Performance: This surge comes after PSBs achieved their highest-ever aggregate net profit of Rs 1.05 lakh crore in FY23.
  • Benefit for Government: The increased dividend payout will be a significant income source for the government.
  • Improved Financial Health: PSBs' strong financial performance reflects a positive trend in the Indian banking sector.

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