May 16: Kerala Financial Corporation, the state-run industrial financing institution, will organise its Business Conclave on May 29 in Thiruvananthapuram. The conclave will be inaugurated by the Chief Minister of Kerala Pinarayi Vijayan in presence of Minister for Finance Dr. Thomas Issac.
Best Entrepreneur Award distribution, Gold Card distribution, declaration of financial results, launching of new software for Contractor loans, awarding best branches of the Corporation, wuld be the main events of the Conclave. The best entrepreneur awards will be focussing on MSME sector in different categories like Manufacturing, Service Sector, Best Women Entrepreneur, and Best First Line entrepreneur.
The customers with a credit rating of above 70% with three year’s good repayment track record will be eligible for the Gold Card. The Corporation ensures low rate of interest and other facilities to Gold Card Customers.
KFC has seen its lending business triple over a one year period, and also become much more client focused and competitive with a focused business strategy and vigorous marketing efforts. As a result of these far reaching changes, today KFC has acquired a new image in the MSME sector as being a partner of choice.
KFC plans to double the portfolio over the next 2-3 years. With the tremendous success of new base rate structure coupled with launch of new products like contractor’s loans, and bill discounting, FY 2019-20 is set to see KFC’s portfolio cross the Rs 3500 crore mark. This together with the improving quality of portfolio and reduction in NPAs is bound to lead to an enhanced rating for KFC thereby yielding a lower cost of funds. These benefits would further allow us to serve our clients better for the overall development of MSMEs in the state, said a statement.