KSFE Shatters Records: First MNBC in India to Hit 1 Lakh Crore Business
Kerala State Financial Enterprises (KSFE) has become the first Non-Banking Financial Company in India to achieve a business volume of 1 lakh crore. The Chief Minister of Kerala highlighted KSFE's integral role in the state's development. The company's growth signifies its financial stability, people-centric model, and innovative methods.
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Kerala State Financial Enterprises (KSFE) has achieved a landmark milestone by becoming India's first Miscellaneous Non-Banking Company (MNBC) to reach a business volume of 1 lakh crore. This was officially announced by Kerala's Chief Minister, Pinarayi Vijayan, at a celebratory event in Thiruvananthapuram.
The Chief Minister praised KSFE's transformative journey and its significant role in sustaining Kerala's financial ecosystem. Established with just 10 branches and a starting capital of Rs. 2 lakh, KSFE now boasts 683 branches and a business volume exceeding Rs. 1 lakh crore.
The business volume tripled from Rs. 30,000 crore in 2016, showcasing KSFE's financial robustness amid global challenges like the financial slowdown, demonetisation, and the COVID-19 pandemic. The visionary Ches have driven their growth through innovative products and adaptable regulatory guidance from the Reserve Bank of India.
(With inputs from agencies.)
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