Within the first three quarters of the present monetary yr, all 12 PSBs earned a complete revenue of ₹98,000 crore, solely ₹7,000 crore lower than the whole FY23.
PSBs earned the highest-ever mixture web revenue of ₹1.05 lakh crore throughout FY23 in comparison with ₹66,539.98 crore earned in 2021-22.
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In consequence, the federal government earned a dividend of ₹13,804 crore, 58 per cent larger than the ₹8,718 crore paid out within the earlier monetary yr.
Because the revenue within the present monetary yr could be a lot larger than the earlier yr, so would be the dividend payout to the federal government, sources stated.
Going by the previous file, the dividend pay out for FY24 ought to be in extra of ₹15,000 crore, they added.
Earlier in January, the Reserve Financial institution, in its draft tips, proposed to permit banks having web non-performing belongings (NPAs) ratio of lower than six per cent to declare dividends.
As per the prevailing norms final up to date in 2005, banks must have an NNPA ratio of as much as seven per cent to grow to be eligible for declaration of dividends.
The central financial institution has proposed that the brand new tips ought to come into impact from FY25 onwards.
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The draft lays down instructions that have to be adopted by banks’ boards whereas contemplating proposals of dividend payouts, which embody consideration on divergence in classification and provisioning for NPAs as effectively.
A industrial financial institution ought to have a minimal complete capital adequacy of 11.5 per cent to be eligible for declaring dividends, the round stated.
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