KSFE pays to the Government of Kerala crores of
rupees every year by way of:
Upto 31.03.2012 an amount of Rs. 367.22 Crores has been paid
on the above head of accounts. Therefore, financially and service
wise, KSFE contributes immensely towards the Kerala economy.
KSFE was created by the Government of Kerala on 6th November
The Paid up capital then was Rs. 2 Lakhs.
Total number of employees at the start was 45.
The number of branches KSFE began with was 10.
The Head Office of KSFE is placed in Thrissur, the hub of Chitty
business in Kerala.
Scenario (Sep. 2012)
Paid up Capital is Rs. 20 Crores.
Total number of employees is more than 5,267.
The number of branches is 427.
The number of customers is more than 29 Lakhs.
Annual Business is Rs. 16,451 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. 500 to
Rs. 2,50,000 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
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 and Vidyadhanam Education Loan Scheme.
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:
Western Union Money Transfer - as sub agent of Paul Merchants
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
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
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.
The Growth of Business over years: