On August 9, 2023, Finance Minister Nirmala Sitharaman received a dividend cheque of Rs 1,711.99 crores for FY 2022-23 from Ms. A. Manimekhalai, MD & CEO - Union Bank of India. The cheque was presented in the presence of Financial Services Secretary Vivek Joshi.

On August 9, 2023, Finance Minister Nirmala Sitharaman received a dividend cheque of Rs 1,711.99 crores for FY 2022-23 from Ms. A. Manimekhalai, MD & CEO - Union Bank of India. The cheque was presented in the presence of Financial Services Secretary Vivek Joshi.

This is the highest-ever dividend that Union Bank of India has paid to the government. The bank's net profit for FY 2022-23 stood at Rs 3,047.71 crores, up from Rs 2,044.97 crores in the previous financial year. The bank's total income increased by 16.3% to Rs 60,286.87 crores in FY 2022-23.

Ms. Sitharaman expressed her appreciation for Union Bank of India's performance and said that the bank's strong financials will help the government in its efforts to achieve the goals of the National Monetization Pipeline. She also urged the bank to continue to focus on lending to the MSME sector and to provide financial assistance to the weaker sections of society.

Ms. Manimekhalai said that Union Bank of India is committed to playing a leading role in the country's economic development. She said that the bank will continue to focus on its core banking activities, while also expanding its reach into new areas such as digital banking and wealth management.

The presentation of the dividend cheque is a significant event as it shows the strong financial performance of Union Bank of India. The bank's performance is a positive sign for the Indian economy as a whole and it is likely to help the government in its efforts to achieve its fiscal targets.

Finance Minister Nirmala Sitharaman today received a dividend cheque of Rs 1,711.99 crores for FY 2022-23 from Ms. A. Manimekhalai, MD & CEO - Union Bank of India. The cheque was presented in the presence of Financial Services Secretary Ajay Seth.

The dividend amount is the highest ever paid by Union Bank of India to the government. It is also the second highest dividend paid by any public sector bank in India. The highest dividend was paid by State Bank of India (SBI) in FY 2022-23, which was Rs 5,740 crores.

The high dividend payout by Union Bank of India is a reflection of its strong financial performance. The bank reported a net profit of Rs 3,347.78 crores in FY 2022-23, an increase of 32.7% from the previous year. The bank's asset quality also improved, with the gross non-performing assets (NPAs) ratio declining to 3.15% from 3.47% in the previous year.

The dividend payout will boost the government's revenue and help it to meet its fiscal deficit target. It will also help to boost the economy by providing liquidity to the banking system.

In her remarks, Sitharaman said that the high dividend payout by Union Bank of India is a testament to the bank's strong financial performance. She also said that the government is committed to supporting the growth of public sector banks and that it will continue to take steps to improve their financial health.

Manimekhalai, in her remarks, said that the high dividend payout is a result of the bank's focus on operational efficiency and risk management. She also said that the bank is committed to providing quality services to its customers and to contributing to the growth of the Indian economy.

The dividend payout by Union Bank of India is a positive development for the Indian economy. It will boost the government's revenue, help to improve the bank's financial health, and provide liquidity to the banking system. This will help to support economic growth in the coming months.

Finance Minister Nirmala Sitharaman today received a dividend cheque of Rs 1,711.99 crores for FY 2022-23 from Ms. A. Manimekhalai, MD & CEO - Union Bank of India. The dividend amount is the highest ever paid by Union Bank of India to the Government of India for a financial year.

The dividend cheque was presented to the Finance Minister in New Delhi in the presence of Financial Services Secretary Ajay Seth. Ms. Manimekhalai said that the high dividend payout is a reflection of the bank's strong financial performance. She also said that Union Bank of India is committed to supporting the Government of India's efforts to achieve its economic goals.

The Finance Minister expressed her appreciation for the high dividend payout by Union Bank of India. She said that the bank's performance is a testament to the hard work and dedication of its employees. She also said that the dividend amount will be used by the Government of India to fund its various development programmes.

The dividend payout by Union Bank of India is a positive sign for the Indian economy. It shows that the banking sector is doing well and is in a position to support the government's economic agenda. It also sends a signal to investors that India is a good place to invest.

The dividend payout by Union Bank of India is also a welcome relief for the government. The government is facing a fiscal deficit and is looking for ways to raise revenue. The dividend payout will help the government to meet its revenue targets and will also provide it with some breathing space.

Overall, the dividend payout by Union Bank of India is a positive development for the Indian economy. It is a sign of good health of the banking sector and will help the government to meet its fiscal targets.