digplanet beta 1: Athena
Share digplanet:

Agriculture

Applied sciences

Arts

Belief

Business

Chronology

Culture

Education

Environment

Geography

Health

History

Humanities

Language

Law

Life

Mathematics

Nature

People

Politics

Science

Society

Technology

The Kerala State Financial Enterprises Limited
Public sector
Industry NBFC
Founded 1969
Founder Government of Kerala
Headquarters Thrissur city, Kerala, India
Number of locations
Kerala
Area served
Kerala
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
6,000
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.

History[edit]

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.

Beginning

  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

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.

References[edit]

  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.
This page uses Creative Commons Licensed content from Wikipedia. A portion of the proceeds from advertising on Digplanet goes to supporting Wikipedia.
146 videos foundNext > 

Praveena in Kerala State Financial Enterprises (KSFE) Advertisement

Praveena in Kerala State Financial Enterprises (KSFE) Advertisement.

How To Find Chitty Amount Of KSFE

The Kerala State Financial Enterprises Ltd. (A Government Of Kerala Undertaking) www.ksfe.com.

Financial Status of Mohanlal

Hedge Ohari is a monthly finance magazine that provides its readers comprehensive knowledge. The board of state-run Indian Bank has given its approval.Mohanl...

New Signature Song of KSFE by Gayathri Ashokan

The Kerala State Financial Enterprises Ltd. Singer : Gayathri Ashokan Music : Shaik Ealahi Lyrics : PN Gopikrishnan Production House : Thinking Films | Cochin.

Kerala State Self Entrepreneur Development Mission

KERALA STATE SELF ENTREPRENEUR DEVELOPMENT MISSION Kerala State Entrepreneur Self Development Mission (KSSEDM), is an ambitious scheme of the Government of K...

Congress-aligned group blocks KSFE MD on road

Financial Enterprises Employees' Association, a group aligned to Congress, blocked Kerala State Financial Services (KSFE) Managing Director P Rajendran on ro...

WE FINANCE YOUR DREAM

Kerala Financial Corporation (KFC) incorporated under the State Financial Corporations Act of 1951, is a trend setter and path breaker in the field of long t...

KSSEDM Part-V Inaguration by Sri.Ooman Chandy, Hon'ble Chief Minister, Kerala

Kerala State Entrepreneur Self Development Mission (KSSEDM), is an ambitious scheme of the Government of Kerala, aims at inculcating entrepreneurial confiden...

KSSEDM Part-VIII Young Entrepreneurs with Finance Minister

Kerala State Entrepreneur Self Development Mission (KSSEDM), is an ambitious scheme of the Government of Kerala, aims at inculcating entrepreneurial confiden...

KSSEDM Part-IV Presidential Address by Sri.K.M.Mani, Hon'ble Minister of Finance, Kerala

Kerala State Entrepreneur Self Development Mission (KSSEDM), is an ambitious scheme of the Government of Kerala, aims at inculcating entrepreneurial confiden...

146 videos foundNext > 

32 news items

 
The New Indian Express
Sun, 22 Feb 2015 16:33:45 -0800

Brahmasthanam Auditorium. Mano Ranjith Pathekkara, CEO, Logica Matrix inaugurated the seminar. P Rajendran, managing director, Kerala State Financial Enterprises presided over the function. K R Bijimon, chief general manager, Muthoot Finance ltd ...
 
The Hindu
Mon, 09 Feb 2015 16:11:15 -0800

Finance Minister K.M. Mani has said that branches of the Kerala State Financial Enterprises (KSFE) will be opened in all panchayats in the State. Inaugurating the draw of lots of the 'Bhagyavarsha' chit schemes of the KSFE here on Monday, Mr. Mani said ...
 
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 ...
 
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, ...
 
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 ...

Economic Times (blog)

Economic Times (blog)
Tue, 13 Jan 2015 16:45:00 -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 ...
 
Times of India
Fri, 10 Oct 2014 17:00:51 -0700

KOCHI: The acute shortage of funds that is crippling the government has not speeded up revenue recovery in the district. According to figures provided by the administration, the 'rich' district, which tops the revenue list in the state, owes about Rs ...

The New Indian Express

The New Indian Express
Sun, 28 Sep 2014 17:33:45 -0700

A couple of other government departments and organisations, including the Police Department and Kerala State Financial Enterprises are gradually shifting to free software platform. At the Secretariat, shifting to open source platform is being done ...
Loading

Oops, we seem to be having trouble contacting Twitter

Support Wikipedia

A portion of the proceeds from advertising on Digplanet goes to supporting Wikipedia. Please add your support for Wikipedia!

Searchlight Group

Digplanet also receives support from Searchlight Group. Visit Searchlight