New Delhi, July 29: Union Finance Minister Nirmala Sitharaman on Wednesday received a dividend cheque of ₹12,207 crore from the Life Insurance Corporation of India (LIC) for the financial year 2025-26.
According to a post shared on X, the dividend cheque was presented by R. Doraiswamy, Managing Director and Chief Executive Officer of LIC.
The Finance Minister also received a dividend cheque of ₹2,853 crore from Union Bank of India, presented by Managing Director and CEO Asheesh Pandey, and ₹211 crore from The New India Assurance Company Limited, presented by Chairman and Managing Director Girija Subramanian.
LIC Dividend and PSB Performance in FY 2025-26
The Finance Ministry highlighted the improved financial performance of Public Sector Banks (PSBs) during FY 2025-26. According to the ministry, PSBs reported a combined net profit of ₹1.98 lakh crore, the highest ever, while gross non-performing assets (GNPA) declined to a record low of 1.9 percent.
The ministry said the net profit of PSBs grew by 11.1 percent during the financial year, marking the fourth consecutive year of profitability. Improved asset quality, healthy credit growth and higher income contributed to the strong performance.
The aggregate business of PSBs reached ₹283.3 lakh crore as of March 31, 2026, registering a 12.8 percent increase over the previous year.
The Gross NPA ratio declined to 1.93 percent, while the Net NPA ratio fell to 0.39 percent, reflecting improved asset quality. The Finance Ministry added that all public sector banks maintained a provisioning coverage ratio of over 90 percent, strengthening their balance sheets and risk management practices.
