KSFE Achieves Historic ₹1 Lakh Crore Turnover Milestone

Landmark Achievement

KSFE Achieves Historic ₹1 Lakh Crore Turnover Milestone: Kerala State Financial Enterprises (KSFE) has become the first miscellaneous NBFC in India to record a business turnover of ₹1 lakh crore. This achievement comes after the company doubled its turnover from ₹50,000 crore in just four years. The state-owned firm’s rapid growth reflects strong public trust and effective financial management.

Static GK fact: KSFE was established in 1969 and operates under the ownership of the Government of Kerala.

Celebration in Thiruvananthapuram

To mark the milestone, Chief Minister Pinarayi Vijayan will inaugurate a special event at Central Stadium, Thiruvananthapuram. The celebration will be chaired by Finance Minister K N Balagopal.

The event will also feature the launch of the KSFE Onam Samriddhi Gift Card by Food and Civil Supplies Minister G R Anil and a special appearance by actor Suraj Venjaramoodu, the brand ambassador of KSFE.

Financial Performance Highlights

For the financial year 2024-25, KSFE recorded a profit of ₹512 crore. The company extended financial assistance worth ₹504 crore through interest waivers over the past four years. It also contributed ₹920 crore to the Kerala state government and maintained fixed deposits worth ₹8,925 crore in the state treasury.

Static GK tip: NBFCs (Non-Banking Financial Companies) are regulated by the Reserve Bank of India under the RBI Act, 1934.

Leadership and Public Trust

KSFE Chairman K Varadarajan credited the success to the confidence shown by the public in KSFE’s services. Managing Director S K Sanil highlighted the company’s consistent profitability and prudent management.

Finance Minister K N Balagopal described the achievement as a testament to KSFE’s growing credibility, customer focus, and ability to adapt to changing financial needs.

Role in Kerala’s Economy

KSFE plays a crucial role in providing accessible financial services, including chitty schemes, loans, and deposit plans. Its contributions to the state treasury strengthen Kerala’s financial resources.

Static GK fact: Kerala has one of the highest literacy rates in India, which has supported the growth of formal financial services like KSFE.

Static Usthadian Current Affairs Table

KSFE Achieves Historic ₹1 Lakh Crore Turnover Milestone: