1. KSFE-NRI CHIT SCHEME An Overview KSFE-NRI CHIT SCHEME An Overview

2. CHIT – LEGITIMIZING TRADITIONAL TRUST BASED TRANSACTIONS
Popular chit forms like Changathi Kuri, Kuri Payattu, Pana payattu, Pooval Chits, Atha Chits etc
Had been providing instant interest free loans for the poor in need
Opportunity for retaining savings in the community for the more fortunate
Institutionalised as public instrument by KSFE
Now made available for NRIs with RBI permission
KSFE-NRI CHIT SCHEME
An Overview

3. The chit turn over then was Rs. 120 Lakhs.
The Kerala State Financial Enterprises was established in created by the Government of Kerala on
The chit turn over then was Rs. 120 Lakhs.
 Total number of employees at the start was 45.
 The number of branches KSFE began with was 10.
 The Head Office of KSFE is placed in Thrissur, the hub of Chitty business in Kerala
KSFE-NRI CHIT SCHEME
An Overview

4. Is a Miscellaneous Non-Banking Company fully owned by the Government of Kerala.
Has the unique status of being the only public sector undertaking in India, which runs Chits and also one of the few profit-making companies owned by the Government of Kerala.
KSFE-NRI CHIT SCHEME
An Overview

5. The Kerala State Financial Enterprises Limited, popularly known as KSFE,
Provides attractive returns to its customers for short-term deposits and long term deposits
Makes available chit security, deposits, foremans’ commission and profits to the Government of Kerala for the states development
KSFE-NRI CHIT SCHEME
An Overview

6. Total Number of Running Chits 33,053
Scenario 2017
Total Number of Running Chits 33,053
Number of Chit Subscribers 16,69,480
Chit turn over per year 18,246 Crores E-NRI CHIT SCHEME
An Overview

7. DIGITISATION OF CHIT LIFECYCLE LINKS KSFE OFFICES THROUGH WORKFLOW
NRI CHIT FEATURES
DIGITISATION OF CHIT LIFECYCLE
MOBILE APPLICATION
LINKS KSFE OFFICES THROUGH WORKFLOW
24X7
CUSTOMER CARE CENTRE
PENSION
INSURANCE
KSFE-NRI CHIT SCHEME
An Overview
KSFE-NRI CHIT SCHEME
An Overview

8. DIGITISATION OF CHIT LIFE CYCLE
CHIT ANNOUNCEMENT
CUSTOMER REGISTRATION
KNOW YOUR CUSTOMER (KYC)
CHIT SUBSCRIPTION AND PAYMENT
CHIT REGISTRATION
CHIT AUCTION
SECURITIZATION
PRIZE MONEY PAYMENT
KSFE-NRI CHIT SCHEME
An Overview
KSFE-NRI CHIT SCHEME
An Overview

9. MOBILE APPLICATION Chitty enrolment Chitty subscription
Subscription portfolios,
Auction bidding and status
Payment
KSFE-NRI CHIT SCHEME
An Overview
KSFE-NRI CHIT SCHEME
An Overview

10. KSFE INTER BRANCH WORKFLOW
FILE
CREATION
CREATES CUSTOMER FILE
KYC
FILING KYC DOCUMENTS
SECURITISATION
FILING SECURITY DOCUMENTS
KSFE-NRI CHIT SCHEME
An Overview
KSFE-NRI CHIT SCHEME
An Overview

11. 24 x7 CUSTOMER CARE CENTRE COMMUNICATION MANGEMENT CHIT PROMOTION
FOLLOW UP CALLS
ENQUIRY MANAGEMENT
NOTIFICATION MANAGEMENT
CHIT PROMOTION
KSFE-NRI CHIT SCHEME
An Overview
KSFE-NRI CHIT SCHEME
An Overview

12. INSURANCE
The application provides for ensuring every chit subscriber through a unique group life insurance scheme providing cover for death or disability.
In the untoward event of death of a subscriber provision for transporting the dead body of the unfortunate subscriber to the homeland along with a companion shall be organised by KSFE jointly with NORKA.
The KSFE availing the insurance support shall undertake the responsibility of the chit payment in the event of the insurance covered death and disability
KSFE-NRI CHIT SCHEME
An Overview
KSFE-NRI CHIT SCHEME
An Overview

13. PENSION
The subscriber also has the option of depositing the prize money in an optional group pension scheme open to chit members by which they would be entitled to an annual pension on return to the homeland.
As a future endeavour KSFE also has plans to start exclusive Pension linked Chits for the Pravasi’s
KSFE-NRI CHIT SCHEME
An Overview
KSFE-NRI CHIT SCHEME
An Overview

14. CONTACT KSFE-NRI CHIT SCHEME An Overview KSFE-NRI CHIT SCHEME