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Key Points

State Bank of India has delivered a substantial dividend of Rs 8,077 crore to the Indian government for the fiscal year 2024-25. The dividend comes amid a strong financial performance by major public sector enterprises across banking, insurance, energy, and power sectors. These robust earnings not only contribute significantly to government revenues but also demonstrate the health of India's public sector companies. The impressive financial results are expected to support government infrastructure and economic growth initiatives.

Key Points: SBI Pays Rs 8,077 Crore Dividend to Govt for FY 2024-25

  • SBI posts record Rs 70,901 crore net profit for financial year
  • Public sector companies show impressive quarterly earnings
  • Government meets fiscal deficit target of 4.8%
  • PSU dividends boost national revenue
3 min read

SBI pays Rs 8,077 crore as dividend to govt for FY 2024-25

SBI Chairman CS Setty presents massive dividend cheque to Finance Minister Nirmala Sitharaman, highlighting strong PSU financial performance

"Sbi's robust dividend reinforces government's fiscal strength - Nirmala Sitharaman Office"

New Delhi, June 9

Union Finance Minister Nirmala Sitharaman on Monday received a dividend cheque of Rs 8,076.84 crore on behalf of the government from the State Bank of India (SBI) for the financial year 2024-25.

The cheque was presented to the Finance Minister by SBI chairman CS Setty at her office in the presence of senior officials.

"Smt @nsitharaman receives a dividend cheque of Rs 8076.84 crore for FY 2024-25 from CS Setty, Chairman - @TheOfficialSBI," Nirmala Sitharaman Office posted on social media platform X.

The robust dividend came as India’s top public sector companies in the financial, power and energy sectors have recorded a robust growth in profit during the January-March quarter of 2024-25, which is expected to further strengthen the government’s fiscal position.

The country’s largest lender SBI and insurance giant Life Insurance Corporation of India (LIC) led the charge with a net profit of Rs 18,643 crore and Rs 19,013 crore, respectively. SBI’s net profit for the financial year 2024-25 has now soared to Rs 70,901 crore while LIC has recorded an impressive net profit of Rs 48,151 crore for the year.

In the energy sector, Coal India earned a net profit of Rs 9,604 crore during the fourth quarter while Indian Oil Corporation (IOC) registered a net profit of Rs 7,265 crore with upstream oil exploration giant ONGC registering a net profit of Rs 6,448 crore during the quarter.

In the power sector, the country’s largest electricity producer, NTPC recorded a net profit of Rs 7,897 crore while Power Finance Corporation (PFC), which also comes under the Ministry of Power, earned a robust Rs 8,358 crore. Power Grid Corporation of India also registered a strong profit of Rs 4,143 crore during the Jan-March quarter.

Apart from higher contributions to the government’s finances through higher dividends, the large public sector enterprises boost revenue by higher payments of corporate taxes.

Besides, the large capex plans of these government-owned enterprises play a key role in driving growth and creating jobs in the economy.

Meanwhile, the government has succeeded in meeting its fiscal deficit target for 2024-25 fixed at 4.8 per cent of the gross domestic product (GDP) in the revised budget estimate for the year, data released by the Controller General of Accounts showed recently.

According to the CGA data, the central government collected Rs 30.36 lakh crore as revenue as both tax and non-tax receipts which works out to 98.3 per cent of the revised Budget Estimates (RE). The earnings of PSUs constitute an important part of these non-tax receipts.

- IANS

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Reader Comments

R
Rahul K.
Great to see our PSUs performing so well! This dividend will help fund infrastructure projects and social schemes. Hope the government uses this money wisely for nation-building. 🇮🇳 #ViksitBharat
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Priya M.
While profits are impressive, I wish SBI would pass some benefits to common customers too. Our savings account interest rates are still very low compared to private banks. More balance needed between profits and public service.
A
Arjun S.
₹8000+ crore is no small amount! Shows the strength of India's banking sector. SBI has been my family's bank for 3 generations - their stability gives me confidence. Hope they continue this growth while maintaining their values.
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Sunita R.
These numbers are making me proud as an Indian! From banking to energy, our PSUs are showing world-class performance. Just imagine if all government departments worked with this efficiency - India would be unstoppable! ✨
V
Vikram J.
Good financial news, but I hope the government remembers these profits come from ordinary citizens' money. Would like to see more transparency in how these dividends are utilized. More accountability = more trust in the system.
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Neha P.
As an SBI employee, this makes me so proud! 🎉 Our hard work is paying off for the nation. But management should also consider better bonuses for staff who make these profits possible. After all, happy employees = better customer service!

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