KSFE Becomes First MNBC In India To Cross ₹1 Lakh Crore Annual Business
The Kerala State Financial Enterprises Ltd. (KSFE), a name synonymous with trust and growth in Kerala’s financial sector, has scripted history by becoming the first Miscellaneous Non-Banking Company (MNBC) in India to achieve an annual business turnover exceeding ₹1 lakh crore (Rupees One Trillion).
This remarkable milestone will be officially announced today (Wednesday) by the Hon’ble Chief Minister of Kerala, Shri Pinarayi Vijayan, at a special ceremony at the Central Stadium, Thiruvananthapuram, at noon.
The event will be presided over by the Hon’ble Minister for Finance, Shri K.N. Balagopal, with the Hon’ble Minister for Food and Civil Supplies, Shri G.R. Anil, as the chief guest. KSFE’s brand ambassador and acclaimed actor, Shri Suraj Venjaramoodu, along with other dignitaries, will grace the occasion.
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KSFE began its operations on November 6, 1969, in Thrissur, with a modest capital of ₹2 lakh, 45 employees, and just 10 branches. Established by the Government of Kerala to provide a transparent, trustworthy alternative to private chit fund operators, KSFE was envisioned as a means to protect the public from fraudulent schemes and bring the chit fund business under social control.
Today, KSFE stands tall as one of the most profitable public sector undertakings in the state, fully owned by the Government of Kerala, and driven by the mission to serve ordinary citizens, the middle class, small-scale entrepreneurs, and Non-Resident Keralites alike.
Over the decades, KSFE’s diverse range of chit schemes and government-guaranteed deposits has empowered millions, offering not just attractive returns but also easy, low-interest loans. The organisation’s special Pravasi Chits have been a resounding success among Keralites abroad, strengthening its global footprint.
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In the last financial year, KSFE achieved a record ₹1,000 crore in new chit business and crossed ₹10,000 crore in gold loan disbursements during the current year, achievements that reflect its expanding reach and evolving customer trust. By integrating modern technology and upgrading operational methods, KSFE has ensured faster, more efficient transactions without losing the personal touch that has defined its service for over five decades.
Speaking on this achievement, KSFE extended heartfelt gratitude to its loyal customers. “This extraordinary milestone has been made possible only because of the support and trust of our valued patrons,” the organisation said in a statement.
