NEW DELHI, JUL 29 (IANS): Finance Minister Nirmala Sitharaman on Wednesday received a dividend cheque of Rs 12,207 crore from the Life Insurance Corporation of India (LIC) for FY 2025-26. She received a “dividend cheque of Rs 12,207 crore for FY 2025-26 from R. Doraiswamy, MD and CEO, Life Insurance Corporation of India,” according to an X post. FM Sitharaman also received a dividend cheque of Rs 2,853 crore for FY2025-26 from Asheesh Pandey, MD and CEO, Union Bank of India and a dividend cheque of Rs 211 crore for FY2025-26 from Girija Subramanian, Chairman-cum-Managing Director, the New India Assurance Co. Ltd. Improved asset quality, healthy credit expansion and higher income contributed to improved profitability of PSBs during FY 2025–26, an earlier Finance Ministry statement said. The aggregate business of public sector banks (PSBs) increased to Rs 283.3 lakh crore as on March 31, 2026, registering a growth of 12.8 per cent over the previous year, it said.