Kerala State Financial Enterprises

Kerala State Financial Enterprises Limited (KSFE) is a public sector chit fund and loan company based in Thrissur city, Kerala, India.

The Kerala State Financial Enterprises Limited
Public sector
Industry
Founded1969 (1969)
FounderGovernment of Kerala
HeadquartersThrissur, Kerala, India
Number of locations
568
Area served
Kerala
Key people
Peelipose Thomas (Chairman)
A. Purushothaman (Managing Director)
Products
  • Chit funds
  • Deposits
  • Loans
Revenue₹210 crore (US$29 million)
₹40,000 crore (US$5.6 billion)
Total equity₹100 crore (US$14 million)
OwnerGovernment of Kerala
Websitewww.ksfe.com

History

The company started functioning on 6 November 1969, with Thrissur city as its headquarters.[1] It started with a capital of Rs 2,00,000, and had 45 employees and 10 branches. It has now 568 branches and eleven regional offices at Thiruvananthapuram, Kollam, Kottayam, Ernakulam, Thrissur, Kozhikode, Kannur, Attingal, Alappuzha, Kattappana and Malappuram.[2] KSFE is a Miscellaneous Non-Banking Financial Company (MNBFC) and is fully owned by the Government of Kerala. KSFE does not come under the regulation of Reserve Bank of India since it is not a Non-Banking Financial Company.

KSFE is one of the two chit fund companies owned by the government in the whole of India. The other company is Mysore Sales International Limited (MSIL) owned by the government of Karnataka. KSFE's purpose at founding was to provide an alternative to unscrupulous private-sector chit fund organisers.[3] In 2000, it had 77% of the capital volume of the chit fund business in Kerala, though just 37.5% of the number of chit funds.[3]

References
  1. "Introduction". Kerala State Financial Enterprises. Retrieved 4 March 2010.
  2. "FAQ". Kerala State Financial Enterprises. Retrieved 4 March 2010.
  3. Job, Sallyamma (2003). A STUDY OF CHIT FINANCE IN KERALA WITH SPECIAL EMPHASIS ON KERALA STATE FINANCIAL ENTERPRISES Ltd. Cochin, Kerala: Department of Applied Economics, Cochin University of Science and Technology.

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