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The Kerala State Financial Enterprises Limited
Public sector
Industry NBFC
Founded 1969
Founder Government of Kerala
Headquarters Thrissur city, Kerala, India
Number of locations
Area served
Key people
P.T. Jose (Chairman)[1]
P Rajendran (Managing Director)
Products Chitty, Loans, Savings, investment vehicles, etc.
Revenue IncreaseRs 105 crore
Rs 16,451 crore
Total equity Rs 20 crore
Owner Government of Kerala
Number of employees
Website http://www.ksfe.com

Kerala State Financial Enterprises Limited (KSFE) is a public sector non-banking financial company based in Thrissur city, Kerala, India.


It started functioning on November 6, 1969, with Thrissur city as its headquarters.[2] It started with a capital of Rs 2,00,000, 45 employees and 10 branches. It has now 500 branches and seven Regional Offices at Thiruvananthapuram, Kollam, Kottayam, Ernakulam, Thrissur, Kozhikode and Kannur.[3] KSFE is a Miscellaneous Non-Banking Financial Company (MNBFC) and is fully owned by the Government of Kerala. KSFE is the only chitty Company owned by the Government in the whole of India.


  1. KSFE was created by the Government of Kerala on 6 November 1969.
  2. The Paid up capital then was Rs. 2 Lakhs.
  3. Total number of employees at the start was 45.
  4. The number of branches KSFE began with was 10.
  5. The Head Office of KSFE is placed in Thrissur, the hub of Chitty business in Kerala.

Scenario (March 2014)

  1. Paid up Capital is Rs. 20 Crores.
  2. Total number of employees is 5112.
  3. The number of branches is 504.
  4. The number of customers is more than 31 Lakhs.
  5. Annual Business is Rs. 21,566 Crores.


Chitty is the main product of KSFE.

It is a unique financial product, which blends the advantages of both investment and advance. It is a risk free safe haven for the public as KSFE conducts only chitties fully governed by the provisions of Central Chit Fund Act 1982. The instalment per month for chitties range from Rs. 1,000 to Rs. 5,00,000 and the usual duration of chitties are 30 months, 40 months, 50 months, 60 months and 100 months.

Other Schemes Offered are given below:

1. Loans & Advances:

Although Chitty is in essence a loan/advance scheme, for subscribers whose chitties are not getting prized and, at the same time they are in need of money, relief has been provided by two loan schemes built within the chitty scheme, viz. Chitty Pass Book Loan and New Chitty Loan.

KSFE offers other loan/advance schemes, comparable to those given by banks and other financial institutions, and the same includes:

Gold Loan Scheme, Reliable Customer Loan, Consumer/Vehicle Loan, Special Car Loan, New Housing Finance Scheme, Flexy Trade Loan, Tax Planning Loan Scheme, Fixed Deposit Loan Scheme ,Sugama (Akshaya) Overdraft Scheme, Vidyadhanam Education Loan Scheme and KSFE Haritham Loan Scheme.

2.Deposit schemes:

Fixed Deposit, Short Term Deposit, Sugama Deposit (which is similar to the savings deposit in Banks), Chitty Security Deposit-in-Trust and Sugama Security Account.

3. Fee Based Activities of KSFE:

  1.Western Union Money Transfer - as sub agent of Paul Merchants Ltd.
  2.Xpress Money Transfer

4. Securities:

From chitty subscribers and customers who avail loans/advances of KSFE, KSFE accepts various types of securities which include:

Fixed Deposits with KSFE or approved Banks, Bank Guarantee, NRI Deposits, LIC Policies, National Savings Certificate (NSC), Kisan Vikas Patra (KVP), Chitty Pass Book of Non-prized Chitties, Gold Security, Post-dated Cheques, Personal surety and Property Security.

Future plans KSFE contemplates:

1. Centralised Chitty Registration.

2. Online Chitty Auction.

3. Chitty payments at the Door step of subscribers.

4. Opening Branches outside Kerala.

5. Spreading weekly chitties to all the KSFE branches.

6. e-remittance facilities for all customers.

7. Foray into the field of M-commerce.

8. Introducing ATM facilities and any time anywhere transaction facilities.

9. Implementation of core solutions software in the company.

10. Going for CRISIL rating to obtain FAAA.

11. Working as a Nodal Agency for distribution of pension of State/Central Government and other PSUs.

12. Undertaking trading of Gold.


  1. ^ http://www.ksfe.com
  2. ^ "Introduction". Kerala State Financial Enterprises. Retrieved 2010-03-04. 
  3. ^ "FAQ". Kerala State Financial Enterprises. Retrieved 2010-03-04. 

External links[edit]

Coordinates: 8°53′15″N 76°35′26″E / 8.88750°N 76.59056°E / 8.88750; 76.59056

Original courtesy of Wikipedia: http://en.wikipedia.org/wiki/Kerala_State_Financial_Enterprises — Please support Wikipedia.
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30 news items

Times of India
Tue, 10 Dec 2013 17:07:30 -0800

THIRUVANANTHAPURAM: The Kerala State Financial Enterprises has launched a new chit scheme aimed at school students that will help them find monetary backing for their higher education. The 'Educare' scheme aimed at students of classes five to 10, ...
Hindu Business Line
Mon, 23 Mar 2015 08:54:40 -0700

It left Kerala State Financial Enterprises (largest chit funds player) a distant second at ₹72.75 crore. Kerala Financial Corporation, the State financial corporation, came in third with ₹50.16 crore. The industrial sector came fourth, with Kerala ...
Times of India
Wed, 26 Sep 2012 16:57:23 -0700

KOCHI: Setting a precedence, the Kerala high court has allowed the contention of guarantors of a chitty drawn from Kerala State Financial Enterprises (KSFE) that debt should be recovered from them only if the principal debtor doesn't have adequate ...
Tue, 23 Jun 2015 00:18:45 -0700

Public sector chit fund company Kerala State Financial Enterprises (KSFE) aims at doubling its business in five years. The company is also growing its home and personal loan business and launching insurance products as part of diversification. KSFE has ...
Sun, 14 Jun 2015 11:11:15 -0700

The chit fund industry is divided over RBI's decision to allow non-resident Indians (NRIs) to invest in these schemes. Kerala State Financial Enterprises (KSFE), a Kerala government undertaking and the only public sector agency in the chit fund ...

Economic Times

Economic Times
Tue, 13 Jan 2015 16:52:20 -0800

State-owned Kerala State Financial Enterprises runs an array of chit funds. While legislators and regulators are legitimately exercised over fraudulent schemes such as Saradha, and seek to curb them, a real danger now arises of north Indian ignorance ...
The New Indian Express
Sun, 08 Feb 2015 14:41:15 -0800

Other NBFCs in Kerala like Manappuram Finance, Kosamattom Finance, ESAF Micro Finance and Kerala State Financial Enterprises (KSFE) are in talks with various banks to become their business correspondents. The NBFCs have been seeking the nod of ...
The New Indian Express
Mon, 09 Feb 2015 14:53:51 -0800

THIRUVANANTHAPURAM: Profits of Kerala State Financial Enterprises has risen from Rs 55 crore in 2010-11 to Rs 173 crore in 2013-14, Finance Minister K M Mani has said. He said the turnover of KSFE increased during this period from `12,333 crore to ...

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