Kerala NBFC KSFE becomes the first miscellaneous NBFC in India to cross ₹1 lakh crore turnover, marking a historic milestone in Kerala’s financial sector with ₹512 crore profit in 2024–25.
Kerala State Financial Enterprises (KSFE) Achieves Historic ₹1 Lakh Crore Turnover
Kerala State Financial Enterprises (KSFE) has made history by becoming the first miscellaneous non-banking financial company (NBFC) in India to achieve a business turnover of ₹1 lakh crore. This remarkable feat was accomplished in a record time, underscoring KSFE’s significant role in Kerala’s financial landscape.
Celebratory Event at Central Stadium
To commemorate this achievement, a grand celebration was held at Central Stadium in Thiruvananthapuram. Chief Minister Pinarayi Vijayan inaugurated the event, which was chaired by Finance Minister K N Balagopal. The occasion also saw the launch of the “KSFE Onam Samriddhi Gift Card” by Food and Civil Supplies Minister G R Anil. Award-winning actor and KSFE brand ambassador Suraj Venjaramoodu graced the ceremony as the guest of honor.
Rapid Growth and Public Trust
Finance Minister K N Balagopal highlighted that KSFE’s business has doubled from ₹50,000 crore to ₹1 lakh crore in just four years. This impressive growth reflects the increasing public trust and popularity of KSFE’s financial services among the people of Kerala.
Key Contributions to Kerala’s Economy
KSFE Chairman K Varadarajan emphasized the company’s significant contributions over the past four years. These include providing ₹504 crore in financial assistance through interest waivers, contributing ₹920 crore to the state government, and maintaining fixed deposits worth approximately ₹8,925 crore in the state treasury.
Consistent Profitability
Managing Director S K Sanil announced that KSFE posted a profit of ₹512 crore for the 2024–25 fiscal year. This consistent profitability underscores KSFE’s position as a robust and dependable public sector enterprise in India.
New Tagline: “KSFE: The Courage of Kerala”
During the celebration, Chief Minister Pinarayi Vijayan unveiled KSFE’s new tagline: “KSFE: The Courage of Kerala.” This tagline reflects KSFE’s commitment to serving the people of Kerala with integrity and dedication.
Why This News Is Important
Significance in the Financial Sector
KSFE’s achievement of crossing a ₹1 lakh crore turnover is a landmark event in India’s financial sector. As the first miscellaneous NBFC to reach this milestone, KSFE sets a precedent for other financial institutions in the country.
Impact on Kerala’s Economy
The company’s substantial contributions, including financial assistance and fixed deposits in the state treasury, play a crucial role in supporting Kerala’s economic development. KSFE’s profitability further strengthens the state’s financial stability.
Relevance for Government Exam Aspirants
Understanding KSFE’s achievements and contributions is vital for students preparing for government exams, especially those related to banking, finance, and public sector enterprises. This knowledge enhances their awareness of key financial institutions and their roles in the economy.
Historical Context
Establishment of KSFE
Kerala State Financial Enterprises was established in 1969 by the Government of Kerala. Initially, KSFE aimed to promote thrift and savings among the people of Kerala. Over the years, it has evolved into a significant player in the state’s financial sector, offering a range of financial products and services.
Growth Trajectory
From its modest beginnings, KSFE has experienced steady growth, expanding its services and customer base. The company’s focus on customer trust and financial inclusion has been instrumental in its success. Achieving a ₹1 lakh crore turnover marks a significant milestone in this journey.
Key Takeaways from “KSFE Becomes First Miscellaneous NBFC in India to Cross ₹1 Lakh Crore Turnover”
| S.No | Key Takeaway |
|---|---|
| 1 | KSFE is the first miscellaneous NBFC in India to achieve a ₹1 lakh crore business turnover. |
| 2 | The company’s business doubled from ₹50,000 crore to ₹1 lakh crore in just four years. |
| 3 | KSFE provided ₹504 crore in financial assistance through interest waivers over the past four years. |
| 4 | The company contributed ₹920 crore to the Kerala state government during the same period. |
| 5 | KSFE posted a profit of ₹512 crore for the 2024–25 fiscal year, demonstrating consistent profitability. |
FAQs: Frequently Asked Questions about KSFE Crossing ₹1 Lakh Crore Turnover
1. What is KSFE?
Kerala State Financial Enterprises (KSFE) is a miscellaneous non-banking financial company (NBFC) owned by the Government of Kerala that provides various financial products and services.
2. What recent milestone did KSFE achieve?
KSFE became the first miscellaneous NBFC in India to cross a ₹1 lakh crore business turnover.
3. How long did it take KSFE to double its business from ₹50,000 crore to ₹1 lakh crore?
KSFE doubled its business in just four years.
4. What financial support has KSFE provided to the public recently?
KSFE provided ₹504 crore in financial assistance through interest waivers over the past four years.
5. What is KSFE’s contribution to the Kerala state government?
KSFE contributed ₹920 crore to the Kerala government and maintains fixed deposits worth approximately ₹8,925 crore in the state treasury.
6. What was KSFE’s profit for the fiscal year 2024–25?
KSFE posted a profit of ₹512 crore in the fiscal year 2024–25.
7. Who is the current chairman of KSFE?
The chairman is K Varadarajan.
8. What is KSFE’s new tagline unveiled recently?
“KSFE: The Courage of Kerala.”
9. Why is KSFE’s achievement important for government exam aspirants?
It reflects the growing importance of state-level financial institutions and highlights key developments in India’s NBFC sector.
10. When was KSFE established?
KSFE was established in 1969 by the Government of Kerala.
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