Economy News

rbi: Government expects dividend of Rs 48,000 cr from RBI and PSU banks in FY24 – Mintpaisa

The government expects a 17% higher dividend at Rs 48,000 crore from the Reserve Bank of India (RBI), public sector banks and financial institutions in 2023-24. In the current financial year ending March, it aims to raise Rs 40,953 crore from RBI and public sector financial institutions. This is much lower than the budget estimate of Rs 73,948 crore for FY23.

It should be noted that RBI approved the payment of a dividend of Rs 30,307 crore to the government after its board meeting in May 2022.

According to the budget document, dividends from public sector enterprises and other investments were also set at Rs 43,000 crore for FY24.

According to the revised estimate for FY23, the dividend from public sector enterprises and other investments was higher at Rs 43,000 crore compared to the budget estimate of Rs 40,000 crore.

The total dividend collection for the next financial year would be Rs 1,15,820 crore against the ER of Rs 1,08,592 crore, according to the ER of 2022-23.


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