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KSFE's purpose at founding was to provide an alternative to unscrupulous private-sector chit fund organizers. [4] In 2000, it had 77% of the capital volume of the chit fund business in Kerala, though just 37.5% of the number of chit funds. [4] Types of KSFE chitty schemes. Regular Chitty : In regular chits one person can bid per month. The ...
The first state-run chit fund, Kerala State Financial Enterprises, was established in 1969 by the Kerala government. Its explicit purpose was to provide an alternative to unscrupulous private-sector chit fund organizers. [3] In 2000, it had 77% of the capital volume of the chit fund business in Kerala, though just 37.5% of the number of chit ...
In the state of Kerala there are various establishments owned, managed and controlled by Government of India.These establishments in Kerala are largely government offices and departments, Public sector undertakings, jointly owned entities, entities in which Government of India has stakes or shareholding, defence and strategic establishments etc.
[51] [52] [53] Many chit funds, a type of Indian savings and credit system, are located in Thrissur. In 2010, an estimated 3,000 chit fund companies were located in Thrissur, employing approximately 35,000 people. [54] [55] South Indian Bank headquarters in Thrissur City. The city is a hub for the Ayurvedic drug-manufacturing industry.
The Saradha Group financial scandal was a major political scandal caused by the collapse of a Ponzi scheme run by Saradha Group, a consortium of over 200 private companies that was believed to be running collective investment schemes popularly but incorrectly referred to as chit funds [1] [2] [3] in Eastern India.
The Kerala State Higher Education Council (KSHEC), Science and Technology Museum Campus, Vikas Bhavan PO, Thiruvananthapuram [7] Kerala State Information Technology Mission [8] Kerala State Institute of Children's Literature; Kerala State Nirmathi Kendra; Kerala State Pharmacy Council; Kerala State Planning Board; Kerala State Pollution Control ...
Chit funds operate along similar principles, and the chit-fund association of India has estimated there are thousands of Indian companies that include management of kitty party funds as part of their services, although these companies tend to be interested only in higher value kitty party funds.
It operates over 65 business centres in Kerala, Tamil Nadu, Andhra Pradesh and Karnataka. The company offers Equity & Currency trading, Online trading, Portfolio Management Services, Depository services, Mutual funds, PAN card services and Market Research. Muthoot Precious Metals Corporation (MPMC) was established in May 2006, the company sells ...