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govt banks dividends: India expects $1.8 billion in dividends from state-run banks in 2024/25: Finance Ministry official

India s state-run banks are expected to generate nearly $2 billion in dividends for the government in the next fiscal year, marking a significant increase from this year. Prime Minister Narendra Modi s efforts to strengthen state banks, including mergers and a bankruptcy law, have contributed to their improved financial performance. State banks are projected to have net profits exceeding $12 billion in the current fiscal year, driven by strong credit demand. ....

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Budget 2024: Govt aims to garner ₹50,000 crore from divestment in FY25

Higher non-tax revenues, including dividends from the Reserve Bank of India (RBI) and state-run banks, are expected to offset the revenue shortfall from disinvestments, prompting the government to revise downwards the FY24 fiscal deficit target to 5.8% of GDP. ....

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PSBs: Indian state-run banks plan overhaul for risk-based profitability and enhanced scrutiny of securities

State-run banks in India are set to revamp their processes by creating a risk-based profitability measurement framework, which will involve more detailed scrutiny of securities pledged by high-value borrowers. The move is part of a proposed strategic roadmap until FY26 being developed in discussions between public sector banks (PSBs) and the government. ....

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Centre turns focus on skills of the key executives of state-run banks

In the past two financial years, PSBs have made a turnaround, backed by a decrease in bad loans. In 2022-23, PSBs earned a record aggregate net profit of about ₹ 1.05 lakh crore, almost triple the net profit earned in 2013-14. The government has been pushing banks to review their systems and adopt best practices to tackle issues such as fraud and cybersecurity risks. ....

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PSBs want cap relaxed for management-level hiring

The government has put a cap on the number of chief general managers, general managers and assistant general managers a state-run bank can have, based on their business size. For instance, a bank with an annual business size of ₹1.6 lakh crore can have a maximum of 12 general managers. ....

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