PNB, UCO Bank submit Rs 1,527 crore dividend cheques to Finance Ministry

Two public sector lenders, Punjab National Bank and UCO Bank, submitted dividend cheques worth Rs 1527 crore in total to the Finance Ministry on Friday. PNB submitted a dividend cheque of Rs 1208.11 crore for FY 2023-24, while UCO Bank submitted one of Rs 319.33 crore for the same year. Managing Director and Chief Executive Officer (MD & CEO) of PNB, Atul Kumar Goel, and Ashwani Kumar of UCO Bank presented these cheques to Finance Minister Nirmala Sitharaman. Earlier, four public sector banks, including Canara Bank and Indian Bank, presented dividend cheques worth Rs 6481 crore to Finance Minister Nirmala Sitharaman for the financial year 2023-24. Last month, the country's biggest lender, State Bank of India (SBI), paid a dividend of Rs 6959 crore for the financial year 2023-24 to the government. The dividend cheque was presented to Finance Minister Nirmala Sitharaman by SBI Chairman Dinesh Kumar Khara in the presence of Financial Services Secretary Vivek Joshi.