KFC Diamond Jubilee Fete on December 5
The Kerala Financial Corporation (KFC) is celebrating its diamond jubilee of incorporation with a year-long programme starting from December 2013. Workshops, entrepreneur meets, academic discourses, launch of new schemes, welfare programmes, corporate social responsibility initiatives etc, all aimed at strengthening KFCs commitment to the industrial development and the nurturing of entrepreneurial culture in the state, is planned as part of the celebrations.
Governor Nikhil Kumar will inaugurate the diamond jubilee celebrations at Kanakakkunnu Palace here on December 5 at 3 pm. Finance Minister K M Mani will preside over the function. The KFC will also organise a day-long workshop on the theme ‘Innovation led and Technology-Intensive Entrepreneurship-the Way Ahead for Kerala’ on December 3 at Mascot Hotel here.
The KFC was established as the Travancore Cochin Financial Corporation on December 1, 1953.
Subsequent to the reorganisation of states on linguistic basis in November 1956, the Corporation was renamed as the Kerala Financial Corporation. KFC has 16 branch offices with its headquarters here and zonal Offices at Kozhikode, Ernakulam and Thiruvananthapuram.
The main objective of the KFC is rapid industrialisation of the state by extending financial assistance to micro, small and medium enterprises in manufacturing and service sector. Since its inception, KFC has assisted more than 45,000 projects, spread over the length and breadth of the state.
The KFC is rated as one of the best state financial corporations in the country. Corporation also provides working capital finance and short-term finance apart from schemes focused at the weaker sections of the society. Modernisation schemes for MSMEs, special schemes for resorts, hospitals, TV serial production etc are some of the innovative schemes introduced to suit changing customer requirements.
KFC has come out with innovative schemes to finance film making and theatre renovation to encourage investment in areas where the state has conventionally been strong.The KFC has also lived up to its corporate responsibility by offering soft loans on easy terms to energy saving projects, for installation of waste treatment plants, for installation of quality food testing laboratories etc.
KFC added another feather to its cap when it became the only state financial corporation in the country to get RBI permission to raise deposits in recent years. It also recorded its highest profit during the last fiscal and distributed the highest dividend among any PSUs in Kerala.