Keralites living in other States too can now join in pravasi chits by the Kerala State Financial Enterprises (KSFE), Chief Minister Pinarayi Vijayan has said.
Speaking after inaugurating the renovated building and the Golden Jubilee celebrations of the KSFE here on Sunday, he said the KSFE chittis had been warmly welcomed by the pravasis. There had been a lot of demand to include Keralites in other States too in the pravasi chittis.
As an institution, which stands with people, the KSFE has achieved remarkable growth over the last 50 years. It can take an important role in rebuilding Kerala. The money that has been deposited in the KSFE is supporting the basic development of the state. KSFE is Keralas economic model that can be proudly presented before the world, the Chief Minister said.
The cooperative sector and the institutions like KSFE were the answer to those who argue that only private firms could function well, he added.
The profit of the KSFE before 3.5 years was 236 crore. Now it is 445 crore. There was 240 crore increase in total assets. It has branches in almost all main centres of the State. There was a remarkable increase in number of consumers as KSFE started branches in villages. The KSFE holds more than half of the total number of chittis started in Kerala, he said.
KSFE has modern call centres now. The consumers have insurance cover. As mobile application and web portal become a reality, consumers can avail KSFEs services easily, the Chief Minister said.
Finance Minister T.M. Thomas Isaac, who presided over the function, said the KSFE would achieve 100,000 crore turnover in five years.
Online software system is ready for the non resident Keralites (NRKs) to join in the Pravasi chitty. The Pravasi chitty will function totally on online platform. He released the Golden Jubilee stamp by the Postal department.
Education Minister Prof. C. Raveendranath was the chief guest of the programme. People, who have been part of KSFE for the last 50 years, were felicitated. KSFE chairman Peelipose Thomas, Thrissur district panchayat president Mary Thomas and others spoke.