The Reserve Bank of India vide its notification dated 4th December 2020 has directed scheduled commercial banks and co-operative banks not to make any dividends for the financial year ended 31st March 2020.
In view of the heightened uncertainty caused by COVID-19 and the desirability of banks conserving capital to retain their capacity to support the economy and absorb losses, it has decided that all banks shall not make any further dividend payouts from the profits pertaining to the financial year ended March 31, 2020 until further instructions.