Jinsfull Project29-06-12

1 Analysis of Gold Loan Business of K.S.F.
CHAPTER I INTRODUCTION In ancient times, Gold was minted into coins and has been used throughout history as money and has been a relative standard for currency equivalents specific to economic regions or countries, until recent times in the ancient past gold coins were exchanged for import of commodities such as spices and cottons by the Greeks and Romans. Moreover gold has been used as investment, as storage of value, making jewellery dentistry and medical uses. Gold has high thermal and
electrical conductivity properties along with a high resistance to corrosion and bacterial colorization. Today, like most
commodities, the price of gold is driven by market forces as well as speculation. However, unlike most other commodities, saving and disposal plays a larger role in affecting its price than consumption. Now gold is traded at around $1885 per In the international
troy ounce (1troy ounce = 31.1gm).
market and in India at around 21000 rupees per 8 grams. Most of the gold evermined still exists in accessible form, such as bullion and mass produced jewellery, with little value over its
Department of Commerce and Management Studies St. Thomas College, Thrissur
2 Analysis of Gold Loan Business of K.S.F.E
fine weight and is thus able to come back on to the gold market for the right price. At the end of 2008 , it was
estimated that all the gold ever mined totaled 1,62,000 tones. According to the world Gold Council, annual mine production of gold over the last few years has been close to 2500 tonnes. About 2000 tonnes go into jewellery or industrial/dental production and around 500 tonnes go to retail investors and exchange traded gold funds. This auspicious yellow metal is creating new business opportunities all over the world such as gold forward, futures and options, gold exchange traded products like ETFs, ETNs and CEFS which are traded like shares on the major stock exchanges. Here al so, India is not an exception. All types of Gold related products are available here and one peculiar characteristic is the existence of thriving gold loan market in India. Gold Loan Business in India Gold loan is a type of loan in which loan amount is sanctioned against the security of gold with demand and price of the yellow metal rising loan against gold is also becoming popular. The facility is for meeting any type of contingent
requirements, thus harnessing the yellow metal which is
Department of Commerce and Management Studies
St. Thomas College, Thrissur
usually
non - sweating
asset
for
productive
pur pose.
Largely driven by the unorganized segment in the past, most whom included the pawn brokers, the gold loan market has now, started to be driven heavily by th e organized segment. Now the organized gold loan markets in India is estimated around Rs.35,000-40,000 crore, registering a growth of 50% over last year. Why a study like this? From the above paragraph it is clear that the growth potential of gold loan ma rket is vast and it is creating more and more opportunities. Along with gold loan business giant Muthoot other NBFCs like Manappuram, Kosammattom and KSFE and miscellaneous non-banking finance company owned by the government of Kerala is doing well, even though the business of KSFE is limited to Kerala region only. But in
order to cope up with drastic changes taking place all over and to exploit new and new opportunities a study like this is essential. This study will help KSFE to analyse its gold loan business in terms of prosperity, market share, profitability, competition etc.
Statement of the Problem Kerala is offering a high growth profile gold lo an market to all the players in the gold loan business. gold loan market KSFE is doing well. In the existing
But in the midst of
severe competition the company couldnt fully exploit the opportunities in the gold loan market. So , it is worthwhile to study the gold loan schemes, procedures, terms and conditi ons of KSFE, as part of making the company amenable for meeting the needs and wants of the present gold loan market. The
problem of study is to analyse the gold loan business of KSFE taking into consideration the data for the past 5 years from
the annual reports of 2005 to 2010, and also b y seeking opinion from gold loan customers through questionnaire. Importance of the Study The study is relevant because the gold loan business is rising continuously. The emergence of stiff competition in the gold loan business from the privately owned NBFC s will make it difficult for a company like KSFE to utilize the opportunities. So, it is very important to analyse the gold loan schemes and business of KSFE to survive in the fast growing gold loan market.
Objectives of the Study 1. To analyse and evaluate gold loan business of KSFE 2. To analyse the profitability and significance of gold loan business in the loan port folio of the company 3. To find out the factors influencing gold loan decision by the customer 4. To understand the influence of fluctuating go ld price on the gold loan business Scope of the study The scope of the study lies in the overall evaluation of the gold loan business of KSFE to make the company to cope up with the changes in the Gold Loan Market. For this data from various sources i.e, from annual reports for the period of 5 years from 2005 to 2010 and primary,data from customers are to be collected Place of the study The place of the study is mainly situated in Thrissur at KSFE Head office, Chembukkavu and in the nearby localities to understand the customer Perception about Gold Loan business of KSFE.
Period of study The study was conducted for a period of 2 1 days during AprilMay 2012 Methodology The study is based on both primary and secondary data primary Data: Primary data is the data which are collected as fresh for the first time by Conducting direct personal interviews and on the spot situation . In this study
questionnaire method is used to collect primary d ata from a sample of 50 respondents. Secondary Data : secondary data is collected from the annual reports of KSFE from 2005 2010. Data is also collected from news papers, Magazines, financial journals, and from internet Sampling method For collecting primary data convenience method of sampling is used by visiting the branches of KSFE in Thrissur. Respondents are identified at Random Sample size 50 respondents.
Sample unit Customers of KSFE Gold Loan scheme in Thrissur Town . Tools of analysis The tools used for the purpose of the study are ordinary tools such as averages, percentages, ratios, comparisons and trend analysis. Limitations of the study 1) The period of study s limited to very short period of 21 days. So that an extensive and deep study could not be possible. 2) In the primary data collection bias of respondents might be another limiting factor. 3) The comparative study of gold loan business of KSFE with other enterprises have not been done because the scale of operation of KSF E is limited to Kerala only, where others have operations all over the country. 4) The non-availability of latest information (2010-11) is another weakness of this study. 5) The findings and suggestions are made on the basis of the analysis made for a period of 5 years only.
CHAPTER 2 REVIEW OF LITERATURE Gold ornaments. is a yellow metal mainly used for making
From the ancient times onwards it is used as Gold is also used for
Money on a substitute for money.
Industrial purpose dentistry, medical uses etc . Now a days, its uses are widening as investment medium, store of value and so on. Even though, the price of gold is determined by the market forces of demand and supply. The recent sharp rise in gold price is due to several other factors, which are as follows; Reasons for Hike in Gold Price It is expected that the present h ike in gold price will last for coming three years and in 2015, It will fetch the level of $3000 per ounce. The reasons for increase in gold price are;
1) In 1980 the gold price was around $600 per ounce. If we consider inflation in gold price, i t should have been reached the level of $2400 for ounce at present. But
now, the actual gold price is only $1884.2 per ounce. This is a cause to increase gold price. So both supply
shortage and gradual increase due to inflation cause price rise. 2) The Central banks of many countries including India and China have started to purchase gold now for keeping it as reserve, after the gap of two decades. This tendency is still continuing; more over many countries are also converting their reserves in Dollars to gold. another reason for increase in the gold price. 3) The demand for gold, especially in India and China from domestic market is shooting up. gold price. 4) The economic crisis all over the world is worsening. To overcome this, they have to print currency and for this gold as a reserve is must. This also increases the gold price. 5) The gold production is coming down as the gold mines ore exhausting and discovery of new mines is a big
This is
It
also enhances the
challenge. expensive.
Moreover deep gold mining is very much
These are some of the reasons for increase in gold price. Gold Loan Business: Loan against the security of gol d is becoming more and more popular now a days. Commodity experts feel that since
gold as an asset class earns profit only when sold, it makes sense to use the metal to take a loan in times of emergency. If you do not wish to sell it, but need money urgently, then Gold loan can be a good option. One of the best feature of gold
loan is that you can get the loan on the same day itself. Even when credit limits have been availed from banks, gold loans continue to be favoured for its flexibility and hassle free experience. Also, the interest rate you pay on the gold loan is comparatively lower than a personnel loan and the chance of getting gold loan is almost sure. As the average tenure of the loan is about 90-100 days, both lenders and borrowers feel it as less risky. Normally, gold loan companies offer loan
against a LTV (Loan to value) ratio of about 75% to 80% which makes it less risky. Though the interest rate changed In the
are about 18% to 24% in organized sector and 40%.

unorganized
sector.
People
with
immediate
money
requirement find gold loan product an attractive source of finance. Minimum documentation and no cre dit history,
makes the process much easier. Purpose of loan will never be a question, while issuing gold loan unlike any other bank loans. All these features of gold loan makes it dependable
source of finance during emergency. Moreover, gold loan is very much useful for lower and middle income group families. As a large part of Indias population resides in villages with average income, the scope of gold loan business in India is wider. Today about half of our gold loan customers belong to the farming and small business communities, the traders, shop keepers and the self employed, who use gold loan for production purposes. Another interesting fact is that gold loan is a very good source of working capital to meet day to day needs. finance. According to the report of world gold loan council India is one of the largest market o f gold accounting with about 10% of gold stock weighing 18000 tons of gold. According to So gold loan is a dependable and easy source of
Manappuram finance limited, the second largest player in gold
loan business, only a 10% of gold available in India is used for gold loan leaving room for potential bu siness opportunity. The gold loan business is largely concentrated between two categories of lenders- south based NBFCs specialized in gold loan, accounting for 32% of total market and scheduled commercial banks holding another 58% of the market. The
rest of the gold loan portfolio is constituted by several small co-operative banks. In the NBFC sector, Muthoot Finance
Ltd. from Kerala holds the major portion with 60% share of gold loan business in India. Kerala State Financial Enterprise (KSFE), a miscellaneous non banking finance company owned by the Government of Kerala, is also a major player in the gold loan business scenario of Kerala. So, the study on gold loan business in KSFE is relevant due to its potent ial for growth and it is being a Kerala government owned enterprise with social responsibilities. Lathika Raj (2008) 1 conducted a study on gold loan business to find out its merits over other loans in banking sector. In her study, she opined that gold loan business has wide scope but it is still underutilized by the banking and non -
banking sector.
To widen the gold loan business , she
suggested that commercial banks should start special counter slovenly for gold loan business. In her opinion gold loan
business are more profitable, less risky and less expensive as far as a commercial bank is considered. Reshma. T.R. (2009) 2 conducted a study on loans and advances of KSFE limited. In her study she opined that the
indicator for the success of KSFE is the maintenance of deposit with significant rate of interest. The company
continued to give high importance to its loans portfolio in line with its social object. From its very beginning and till now KSFE is making good profits. Subash Das (2005) 3 in his M.Phil study conducted a survey on Risks i nvolved in gold loan business b y visiting branches of certain commercial banks and NBFCs. In his
study, he concluded that, highly fluctuating gold price and less Karat gold ornaments are threats to gold loan busi ness. Aswathi. A. (2007) 4 in her M B A project had conducted a study on credit analysis & effectiveness with special reference to KSFE. The objectives of the study were to
examine the credit analysis, to know the effectiveness of chit

fund business of KSFE in terms of services and satisfaction, understanding categories, growth of loans, attitude of
subscribers towards its functioning. Sharma conclusions; In an era of dynamic economy and hectic competition, the performance of a financial institution like KSFE is very important. With respect to number of branches and number of employees the growth of KSFE is tremendous. The KSFE (2001) 5 in her study made the following
started its functioning by conducting only one business, that is, chit business. Now KSFE is offering a wide variety of
resources to the public such as accepting deposits, providing housing loan, trade finance gold loan etc which are very important. diversification KSFE and is performing of well in As terms a of
volume
busi ness.
public
institution, it has to contribute towards the social and economic goals. Reason behind the commencement of KSFE itself is to save the public from exploitation. From the
achievements of KSFE, it is very clear that the performance of company is good and financial health is moderate which leave
scope for better financial management and eternal vigilance for customer satisfaction. Sunil Kumar (2001) 6 in his study concluded that there exist a good level of customer satisfaction about KSFE. So
it should provide attention to improve the infrastructural facilities, so as to save the valuable time and cost. In addition to this, existing products should be modified and ne w products should be launched to suit the variety of needs of the customers. Above all, a human touch in the transactions will help to earn the customer affection. A product genuinely sold with customer value will please the customer and the
customers become a continued asset to the organization. The present report of the working group on Non-banking financial institutions in Kerala (2005) 7 discussed the It
development of KSFE Ltd, particularly in chit business.
presented the trend and dimensions of deposit mobilized and various loans provided by KSFE. It attempted a perf ormance evaluation of KSFE in terms of its market share in chit business in the registered sector, returns to govern ment, profitability, potential etc. market outreach, employment generation
The study summarizes that the presence of
KSFE as the only public sector chit company in India serves as an alternative to the growth of private chit and chits. unregistered
The growing presence of the unregistered chit fund
sector pinpoints the need for more dynamic growth for the KSFE and wider market out reach. Shankharyan and Pankaj (1996) 8 while analyzing the performance of central co-operative bank had examined the
viability aspect of the banks such as credit deposited ratio, profit and loss, return on shareholders equity. According to Savetha Bahatia an d Satish Varma (1999) 9 bank profitability can be measured in several ways, the most commonly used measure is the ratio of profits earned (net income after Taxes) and the capital inserted. Riasker (2003) 1 0 stated that deposits comprise an
important component of the banks working fund and the profitability of latter deposits on the cost effective
mobilization of deposits,
In fact the profitability of bank is
significantly correlated to the efficient deployment of fund. Bhaskara (2006) 1 1 emphasized the significance of
customer service in banks. The banking sector is considered as a service oriented industry. It has to render manifold
services to the people who visit the banks. Customer services are central to all business operation. Hence , customer needs to be treated with sufficient care and attention. He put
forward a lot of strategies and measures to promote customer services. Julia Ittichan Vazhappilly (1992) 1 2 has made a study about the economics of public enterprises. In the study besides
considering the public enterprise as a whol e, an attempt is made to picturise the economies of KSFE too. From the brief review and documentation of earlier studies we can see that there is tremendous scope for the studies in the field of NBFC s. NBFC s . Hence the study focused on
CHAPTER 3
PROFILES
INDUSTRIAL PROFILE Non-banking financial companies (NBFCS) have
emerged as substantial contributors to the Indian economic growth by supplementing the efforts of banks and other development financial institutions. They play key role in the direction of savings and investment. Non banking financial companies means companies carrying on the business of financial finance institutions companies. and includes business of non banking Non-banking financial company
constitutes, a heterogenous group of financial intermediaries other than commercial and co-operative banks and they form an important segment of financial institutions. They raise deposits from the public directly or indirectly, and lend these funds to their ultimate spenders. All banking financial
companies play an important role in channelizing the scarce financial resources for the economic development of the country.
NBFCS are the intermediaries between the savers and investors. These companies, are also known as finance companies, loan companies financial corporations etc. These companies, with very little capital of their own, have been raising deposits from public by offering attractive rate of interest and other incentives. According to the Reserve B ank Amendment Act 1997, a non banking finance company is defined as, A non banking institution which is a company and which has its principal business the receiving of deposits under any scheme of arrangements or in any other manner or lending in any manner. Such other non-banking institution, as the bank may with the previous approval of the central government and by notification in the official gazette specify. NBFCS provide a range of services such as hire purchase finance, equipment lease finance, loans, and investment. NBFCS have raised large amount of resourc es through deposits from public, shareholders, directors, and other companies and borrowing by issu e of non-convertible debentures, and so on.
Non banking financial institutions carry out financing activities but their resources are not directly obtained from the savers as debt. Instead, these institutions mobilise the public savings for rendering other financial services including investment. All such institutions are financial intermediaries and when they lend ,they are known as non banking financial intermediaries( NBF I s) or investment institutions. NBFCs are doing functions, akin to that of banks; however there are a few differences: NBFCs cannot accept demand deposits. (demand deposits are funds deposited at a depository institution that are payable on demand-immediately or within a very short period. It is not a part of the payment and settlement system and as such cannot issue cheques to its customers. Deposits insurance facility of DICGC is not available for NBFC depositors unlike in the case of banks.
In terms of section 45-1a of the RBI Act 1934, it is mandatory that every NBFC should be registered with RBI to commence or carry on any business of non - banking financial institution. The NBFC that are registered with RBI are :1. 2. 3. 4. EQUIPMENT LEASING COMPANY HIRE-PURTCHASE COMPANY LOAN COMPANY INVESTMENT COMPANY With effect from December 6, 2006, the above NBFC registered with RBI have been reclassified as :(a) (b) (c) Asset finance company(AFC) Investment company(IC) Loan company(LC)
Non- banking institution frequently acts as: Suppliers of loans and credit facilities. Supporting investment in property. Trading money market instruments. Funding private education. Wealth management such as managing portfolio of stocks and shares: IFC and other obligations.
Retirement planning. Advice Company in merger and acquisition. Prepare feasibility, market or industry studies for
companies. Discounting instruments. However, they are typically not allowed to take deposit from the general public and have to find other own means of funding their operation such as issuing debt instruments. services. E.g. d iscounting of financial
COMPANY PROFILE KERALA STATE FINANCIAL ENTERPRISES LTD. The Kerala State Financial Enterprise is fully owned by the Government of Kerala and it is the first public sector company to conduct chit business in the whole of India. It is a miscellaneous Non banking financial company. It was
incorporated on 6 t h November 1969 with its registered office in Thrissur. It had an authorized capital of 25 lakhs decided in to 2500 equally shares of Rs.100 each and a paid up capital of Rs.21 lakhs an initial contribution from Government of Kerala. KSFE showed profits from its first year of working. Today with over 42 years of functioning KSFE in having 365 branches and 7 regional offices in Kerala. More than 5000
people work at KSFE and 2 million peoples are associated with it. A striking point is that all the funds mobilized by
KSFE through its various depo sits schemes and chitties are advanced wholly to public in Kerala itself where as other financial institution and banks channel their deposit collected in Kerala for advances outside the state. Financially an d
service wise, KSFE contributes immensely towards Kerala

economy. It is presently the biggest chit promoters in Kerala, and also the most profit making public sector undertaking of the state. Now it is having 10,700 crores annual business. MISSION The Kerala Chitties Act 1975 was brought into wit h effect from 25 t h August, 1975 in supervision of the legislation and with a view to introduce a unified procedure to regulate the conduct of chit and chit funds in Kerala . KSFE aimed to socialize the business and to ensure safety, Security and better service to the public by paying good returns and lending money at lesser rate of interest . All these are included in the service philosophy of the company. VISION To become a significant player in the financial service sector by: Providing a whole range of quality service and products. Adopting technology and benchmark standards in customer service and performance.
Spreading wings beyond the border of Kerala, on a global level. Retaining the pre-eminent sale in chit business. Continuing on extending resources to the
government of Kerala. Sustaining commitment to the weaker sections of society, as the neighborhood institution for support, trust and society. OBJECTIVE OF KSFE The major objectives are To start, conduct, promote, operate, manage and carry on the business Chitties in India and
elsewhere. To promote, undertake, organize, conduct carry on the business and general and miscellaneous
insurance of any kind in India or elsewhere. To start, promote, conduct, operate carry on and manage the business of dealers, agents and traders under the hire purchase system of articles, vehicles, machinery, materials, goods and tools of all capital goods and property of all nature and description for
personal, domestic office, commercial, indust rial and community use and consumption as business of the company or as a agent of Governments state or central or anybody or organization, there under or of any other company. To start, promote, conduct, operate and carry on the business for providing financial assistance for the construction of new building and for repairs, renewals, alteration addition or modification, of existing building and for self employment schemes. To provide financial assistance to the hirers or other for the purpose of running and maintaining articles, equipment and other items acquired under hire purchase system of company. To advance money on security of gold or other valuable securities. CONSTITUTION KSFE is the first public sector undertaking to conduct chit business in whole of India. The man agement of the company is in the hands of directors constituted by the Governor from time to time. The board shall consist of a
maximum 15 directors other than the managing g director as a chairman of the board. The general body representing the
share holders in the supreme governing body of the company. ORGANISATIONAL SET UP The general administration of the organization and the business development was initially centralized. However, the expansion of the business and the multiplication of the branches throughout the state required decentralization and in turn regional managers. The organizational set up is largely a three tier -system with the head office at the top level as the controlling body . The regional office at the intermediary level having control of the units under them and different units at base level, which are the profit generating centers. These units are engaged in the chitty business and hire purchase financing as their main products and acceptance of deposit from the public as para llel product. In the head office the activities are grouped as
functional as well as product based under the control and supervision of managing director who is the chief executive.
The company has its head office located at Thrissur and seven regional office at Thrissur, Calicut, Ernakulam, Quilon
Kottayam,
Thiruvananthapuram,
Kannur
and
controlling its branch network spread throughout the Kerala.
ORGANISATIONAL STRUCTURE OF THE KERALA STATE FINANCIAL ENTERPRISES LTD
Chairman & Board of Directors
Managing Director (Head Office)
Production Department Regional Office (Regional) Chitty Department
Functional Department Accounts of Department Secretarial Department Administrative Department
Hire Purchase Department
Legal Department (Legal) Unit
Internal audit Functional
Major
Small
Medium
DEPARTMENTS 1) ACCOUNTS DEPARTMENT The department is headed by the general manager. The main function includes Planning, budgeting and control, computation of accounts, financial management, reconciliation and preparation of
annual accounts. 2) ADMINISTRATION DEPARTMENT The administration office heads this department. He is in charge of the personal administration, salary industry
relations, manpower planning etc. 3) SECRETARIAL DEPARTMENT This is headed by the company secretary, who is
responsible for the function conferred on him by companies Act 1956. He is also responsible for the general
administration including p urchase, printing etc.
4) LEGAL DEPARTMENT This department headed by the part time legal advisor assisted by a legal superintendent. He is responsible for the advising the company on the legal matters and securities. 5) BUSINESS DEPARTMENT General Manager heads this department. Their main
function are achievement of business target, default collection and planning. 6) INTERNAL AUDIT DEPARTMENT Internal audit officer heads this department. Ten
assistant teams will exercise internal checks and audit and thus will assist the audit officer. 7) GENERAL ADMINISTRATION A senior manager heads this department and he is responsible for the general administration including purchase printing, maintenance of office etc. BRANCHES KSFE commenced its business by issuing three chits from the head office at Thrissur. In April 1970. The
structured growth of company had been unimaginable over the years. Now it is in the states of big financial institution. The number of branches of the company in the year 2009 -2010 is 365. Table 3.1 Growth of Branches of KSFE Ltd. Year 2005 - 2006 2006 - 2007 2007 - 2008 2008 - 2009 2009 - 2010 2010-2011 No. of Branches 265 268 270 299 365 400
Chart 3.1 Representing the Growth of Branches

450 400 350 300 250 200 150 100 50 0 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11
Table 3.2 THE GROWTH OF BUSINESS OVER YEAR 2005Business 2006 Chitty 1786.80 1992.97 2057.77 3641.87 Turnover Advance Total 1566.12 1696.83 1828.95 2239.75 Deposits Aggregate 4000.92 4540.36 4874.62 7165.72 10685.78 Business 2931.03 648.00 850.56 987.90 1284.10 1572.11 6182.64 2007 2008 2009 2010 2006200720082009-
Chart 3.2 REPRESENTING THE BUSINESS OF KSFE

12000 10000 8000 6000 4000 2000 0 2005-2006 2006-2007 2007-2008 2008-2009 2009-2010
Chitty Turnover Advance Total Deposits Aggregate Business
PRODUCTS OF KSFE LTD 1) CHITTY A chitty is conducted by a person or institution and this entity is called the foreman. In this case of KSFE chitties,
KSFE is the foreman. A chitty is basically a contract between the foreman and the subscriber. As per the contract, each
subscriber agrees to remit a fixed amount of money every month for a number of months. The total of the periodic
subscription called chitty amount, will be given out as price money to the person who bids by allowing for maximum reduction in the price money. The foreman (KSFE) is entitled to certain percentage of the chitty amount [not mor e than 5 % of chitty amount] as his commission from each member. 2) CHITTY LOAN CHITTY LOAN is a bridge between the customers actual financial needs and the delay in getting chitty in customers favour. If the customer is a non-prized subscriber in a chitty and remitted 10 % of the total installments promptly, he is eligible for an advance up to 50% of the total chitty amount or
sale (gross subscription to be remitted per month multiplied by the number of installment in th e chitty). In the case of 100
months chitties the maximum loan amount will be 30 % of the advance is settled by the adjustment from the chitty price money and interest has to be remitted every month. The
interest rate of advance is 16.5 % (simple) and fo r duplicated accounts 15.5 %. 3) GOLD LOAN SCHEME This facility is for meeting any type of contingent requirement, thus harnessing the yellow metal, which is usually a non-sweating asset, for productive purpose under the scheme short-term loan up to 2500000 for maximum period of 12 months are provided on the security of gold ornaments. But it can be renewed up to aggregate period of 12 months by remitting interest in every 6 months. 4) PASS BOOK LOAN A non priced chitty subscriber, without any default in remittance of installment is eligible for a passbook loan, the calling of which is based on certain discount from the paid up amount in the respective chitty. Generally no security other
than passbook is required for it. (Simple) 15% for default accounts.
The interest rate is 13%
5) RELIABLE CUSTOMER LOAN The customer having a good track record with KSFE LTD for more than one year is eligible for this advance. The
maximum amount of advance is Rs.1,00,000 on personal and property Rs.5,00,000 on security of financia l document. 6) CONSUMER VEHICLE LOAN (CVL) CVL scheme helps in acquiring articles such as computers,
motor vehicles, two wheelers, four wheelers, certain durable s medical equipments for clinics, agricultura l equipments etc. The duration of the advance is between 12 months and 16 months. Type of securities acceptable for chitty prize money are acceptable in the case of CVL also. 7) HOUSING FINANCE The finance is available for Building your house Purchasing of house plots Renovation of existing house
Person like salaried people, professionals like doctors, engineers, chartered accounts, lawyers etc can avail this type of loan. 8) FLEXY TREND LOANS This is intended to provide financial assistance to small traders/businessman for supplementing their working capita l requirement with overdraft facility . Ongoing concerns such as individual partnership firms, companies, Hindu undivided families, association of person, trust and registered co operative societies with a taxable income of Rs 1,00,000 minimum for past three years, having KGST registration, CST registration and requisite license from the local body are eligible for the loan. 9) TRADE FINANCE It is an advance for the small scale traders to enhance the ir working capital. Amount is limited up to Rs.1,00,000. T he
applicant should have a small scale trading venture. The proof for the same such as license from the local bodies, lease deed etc. has to be produced. The manager concerned will conduct
the site inspection to ascertain the location and holding of stock in trade. The repayment period is 12-60 months. 10) FIXED DEPOSITS
The company mobilizes deposits from the public on paying attractive rates of interest as a part of its resource
mobilization. The repayment of deposits and the interest rate due are guaranteed by the Government of Kerala. The annual interest rate in case of deposits from the public is 9% per annum and for deposits of prize money from chitties by the subscribers is 9% . 11) SUGAMA DEPOSIT
This scheme includes maintenance of personal acco unt in the name of individuals, association etc. in which frequent deposits and withdrawals are permitted. This will allow the
interest on the monthly minimum balance outstanding in in dividuals accounts from the last working day of each calendar month. LIFE INSURANCE AS A CORPORATION AGENT OF LIC The Life Insurance corporation of India is the only life Insurance Company in the public sector of India.
There are
more than 12 Life Insurance Companies in private sector in India. Still the majority of the m arket share (nearly 90%) is with the LIC of India. LIC was established in the year 1956 and it has become a synonym for Life Insurance in India. LIC ranks among top ten insurance companies in the world. It has 2048 branches all over India with its head quarters at Mumbai and divided into 100 divisions under seven zones. Insurance Regulatory and Development Authority
(IRDA), the controlling body of insurance business activities in India was set by the IRDA Act, in 1999, IRDA introduced the concept of corporate agency in the year 2000 by which corporate bodies like banks, firms, corporative societies can act as agent of insurance companies to market their insurance product. This alternative channel of marketing is also known as BANCASSURANCE especially in the western world since majority of the corporate agents a re banks. WESTERN UNION MONEY TRANSFER Money transfer here means transfer of money from a foreign country to India. Transfer with in the country and out of the country is not permitted under thi s scheme. The sender in a foreign country can approach any western union location
for sending money.
The details of money so send are to be
transmitted immediately by the sender to the receiver in India. The money so send can be collected from any of th e western union location nearest to the receiver. At present money
transfer services are available from 207 branches of KSFE spread all over Kerala. FEATURES OF KSFE GOLD LOAN Maximum amount of gold loan has been enhanced to Rs. 25,00,000 per day. Normal repayment period is 6 months, which can be extended up to 12 months. Interest payable after 30 days amount can be repaid at any each p rincipal time, at any
denomination. Interest is charged only on the outstanding amount remained in the loan account. Interest rate; 12% up to loan amount Rs.10,000 14% on loan amount from Rs. 10,000 to 25,00,000 Up to 82% of market gold price will be given as loan in gold loan scheme.
Now, maximum of 2050 per gram on 916 gold (22ct) and maximum of 2150 per gram on Hall market gold (24ct) , subjects to managers decision will be given as gold loan in KSFE.
New customers can avail this facil ity by filling an application form along with electoral I.D. Card. Existing customers of KSFE needs only to fill the application form.
Gold loan will be disbursed on the same day of submitting the application form.
Transaction cost ; Appraisal fee-2% (Minimum Rs.25, Maximum Rs.100 up to loan amount Rs.3,00,000. For gold loan above 3,00,000, two appraisal is needed and cost will be a maximum of Rs.250). Stamp duty - Rs. 2 stamp is required on gold loan above Rs.5000
Penal interest rate - 2% on interest rate. (i.e.12.24% on loan amount up to Rs 10000 and 14.28%on loan amount above Rs 10000 is charged as interest thereafter when penalty is imposed. These all are the features of KSFE Gold Loan Scheme.
CHAPTER 4 DATA ANALYSIS & INTERPRETATION
Gold Loan Business Analysis. Table No: 4.1 Gold Loan disbursed (Rs. in Lakhs) Year Gold Loan 29,799 40,783 disbursed Trend percentage 119 162 185 203 232 46,532 51,078 58,330 2005-06 2006-07 2007-08 2008-09 2009-10
(Base year 2005,gold loan Disbursed 25145) Chart No:4.1 Gold Loan disbursed (Rs. in Lakhs)
Gold Loan disbursed

70,000 60,000 50,000 40,000 30,000 20,000 10,000 0 2005-06 2006-07 2007-08 2008-09 2009-10 Gold Loan disbursed
Chart No: 4.2
Trend analysis of Gold Loan disbursed

250 232 200 150 119 100 50 0 2005-06 2006-07 2007-08 2008-09 2009-10 162 Trend percentage(Base year 2005)(gold loan 25145) 203 185
Inference:
From the above graphs, it is clear that the gold
loan disbursed in KSFE shows a steady increase. Comparing the year 2005-2006 the gold loan disbursed actually doubled at the end of 2009-2010.
Table No:4.2 Percentage of Gold Loan on total loans and advances (Rs. in lakhs) Year Total loans and advances Gold loan 29,799 disbursed Percentage of gold loan. 14% 17% 15% 13% 11% 40,783 46,532 51,078 58,330 2,14,026 2,33,525 3,05,175 3,95,996 5,39,226 2005-06 2006-07 2007-08 2008-09 2009-10
Chart No: 4.3
Percentage of gold on Total loans and advances

18% 16% 14% 12% 10% 8% 6% 4% 2% 0% 2005-06 2006-07 2007-08 2008-09 2009-10
Inference:
Gold loan holds significant percentage of total In 2005 -06 and 2006-07 gold
loans and advances of KSFE.
loan percentage on total loans and advances was increasing but later the percentage is decreasing due to the introduction of new credit products by KSFE. But still Gold loan is
significant in the loan portfolio of KSFE of the 19 items in the portfolio gold loan itself holds around 12% share of told loans and advances of KSFE. Table No:4.3 Interest receipts of gold loan (Rs. in lakhs) 2006Year 2005-06 07 Interest receipts on gold loan Trend 143 Percentage (Base year, 2005, Interest received 1992 lakhs) 173 235 294 344 2850 3456 4682 5858 6855 08 09 10 200720082009-
Chart No: 4.4
Interest receipts on gold loan

8000 7000 6000 5000 4000 3000 2000 1000 0 2005-06 2006-07 2007-08 2008-09 2009-10 2850 3456 4682 5858 6855
Chart No: 4.5
Trend analysis of interest on Gold Loan

400 350 300 250 200 150 100 50 0 2005-06 2006-07 2007-08 2008-09 2009-10 143 173 235 294 Trend Percentage(Base year, 2005)(Interest 1992) 344
Inference: trend.
The interest from gold loan shows an increasing
Within the period of 5 years, it has doubled a nd
reached the level of 6855 lakhs in 2010.The rate of growth is around 20%, which is an excellent growth rate.
Table No 4.4 Percentage of gold loan interest on total interest receipts of KSFE 200506 16199 200607 17353 200708 19850 200809 23887 200910 32038
Year Total interest receipts (lakhs) Gold loan interest receipts (lakhs) % of gold loan
2850
3456
4682
5858
6855
interest on total 17.59% 19.92% 23.58% 24.58% 21.39% interest receipts
Chart No:4.6
Percentage of gold loan interest on total interest receipts

30.00% 25.00% 20.00% 19.92% 15.00% 10.00% 5.00% 0.00% 2005-06 2006-07 2007-08 2008-09 2009-10 17.59% 23.58% 24.58% 21.39%
Inference:
The above graph shows the percentage of gold Interest
loan interest on total interest receipts of KSFE.
receipts are the major source of revenue to the KSFE (About 55% of total income of KSFE is coming from its various interest receipts.) Of the total interest receipts, gold loan So gold loan
interest receipt is around 20% (Average).
interest is a major source of revenue to the KSFE. From the above diagram. It is clear that percentage gold loan interest is showing an increasing trend only in the year 2009-2010, it is decreasing. But that is due to the introduction of new it ems in the loan portfolio of KSFE. So gold loan interest is a major source of revenue to KSFE. Table No: 4.5 Percentage of gold loan interest on total income of KSFE Year Total income in lakhs Gold loan interest in lakhs 200506 26833 200607 29462 200708 34840 200809 43278 200910 59395
2850
3456
4682
5858
6855
% of gold loan interest on 10.62% 11.73% 13.43% 13.53% 11.54% total income of KSFE
Chart No: 4.7 Percentage of gold loan interest on total income of KSFE
Percentage of gold loan interest on total income of KSFE

16.00% 14.00% 12.00% 10.00% 8.00% 6.00% 4.00% 2.00% 0.00% 2005-06 2006-07 2007-08 2008-09 2009-10 10.62% 11.73% 13.43% 13.53% 11.54%
Inference: Gold loan interest alone account t for about 12.5% (org) of total income of KSFE. Those shows the importance of gold loan business in KSFE. products offered by KSFE. There are about 20 more
But gol d loan alone contribute
more than 12% to the total income. So gold loan business is a thriving business product of KSFE.
Primary Data Analysis Table No: 4.6 Percentage of Respondents on the basis of Age Group No. of Age Respondents Below 25 25 35 35 45 45 55 Above 55 Total 1 12 18 18 1 50 2 24 36 36 2 100 Percentage
Chart No: 4.8
Percentage of Respondents
2% 2% Below 25 36% 24% 25 35 35 45 45 55 36% Above 55
Inference: The table and chart reveals that the highest number of customer (36%) belongs to the age group of 35 45 and 45 55 followed by the age group of 25-35 (24%). the
percentage of persons above 55 and below 25 is 2% each. From this, we can infer that the KSFE gold loan s are more preferred by middle aged group.
Table No: 4.7 Percentage of Respondents on the basis of Monthly Income.
No.of Monthly Income Respondents Below 5000 5000 10,000 10,000 15,000 Above 15000 Total 11 27 10 2 50 22 53 20 5 100 Percentage
Chart No: 4.9 Percentage of Respondents on the basis of monthly income
Monthly Income
5% 22% 20% Below 5000 5000 10,000 10,000 15,000 Above 15000 53%
Inference: The table and chart reveals that highest number of gold loan subscribers (53%) in KSFE belongs to the income class of Rs5000 to Rs10,000 range followed by the below 5000 group (22%). 20% of KSFE gol d loan subscribers belongs to the income class of 10,000 15,000.From this we can conclude that lower income group being the deserving needy, are more akin to KSFE gold loans.
Table No: 4.8 Percentage of respondents on the basis of number of times gold loans availed by customers. Number of Number of times Respondents Once Twice Thrice More than Three Total 4 25 17 4 50 8.5 49 34 8.5 100 Percentage
Chart No: 4.10 Percentage of respondents on the basis of number of times gold loans availed by customers.
Number of times
9% 8% Once Twice 34% 49% Thrice More than Thrice
Inference: The table and chart reveals that 49% of customers has availed gold loan for two times and 34% availed this service for three times. From this we can infer that KSFE gold loanees are frequent customers of it.
Table No: 4.9 Percentage of Respondents on the basis of purpose of gold loan availed by customers.
Purpose of gold loan Busines Private &
No. of % of respondents Respondents 6 31
41 Personal Repaying another 3 loan Others: Total 50
56
13
100
Chart No: 4.11 Percentage of respondents on the basis of purpose of gold loan availed by customers
Purpose of gold loan

13% 31% Busines Private & Personal Repaying another loan 56% Others:
Inference : From the above table and chart we can infer that the main purpose of KSFE gold loan is private and personal (56%) followed by Business purpose. (31%) Table No: 4.10 Percentage of Respondents on the basis reason for selecting gold loan: Reason for selecting gold loan Easiness to get cash Simple procedure Difficulty in getting other loans Total No. of Respondents 15 28 7 50 % of Respondents 31 56 13 100
Chart No: 4.12 Percentage of respondents on the basis of reason for selecting gold loan
Reason for selecting gold loan

13% 31% Easiness to get cash Simple procedure Difficulty in getting other loans 56%
Inference:
From the above table and chart we can infer
that the reason for selecting gold loan instead of other loan is because of the simple proced ure of gold loan (56%). 31% opined that the reason for selecting gold loan is due to Easiness in getting cash.
Table No: 4.11 Percentage of Respondents on the basis of reason for selecting KSFE for gold loan: Reason for selecting KSFE Less Interest rate less margin Quick Access Confidence in KSFE Simple procedure All of these Total No. of Respondents 11 9 11 12 7 50 % of Respondents 22 18 22 25 13 100
Chart No: 4.13 Percentage of respondents on the basis of Reason for selecting KSFE for gold loan
Reason for selecting KSFE

All of Less these Interest 13% rate 22% Quick Access 18%
Simple procedure 25%
less margin 0%
Confidenc e in KSFE 22%
Inference: The reason for selecting KSFE for gold loan is the lower interest rate offered by KSFE (25%). Quick access and confidence in KSFE rated at second place of the reasons for selecting KSFE for gold loan (22% each). Table No: 4.12 Percentage of respondents on the basis of opinion about other banks, NBFCs. Opinion about other banks, NBFCs Good Average Bad Total No. of Respondents 5 42 3 50 % of respondents 9 84 7 100
Chart No: 4.14 Percentage of respondents on the basis of opinion about other banks, NBFCs
Opinion about other banks, NBFCs

7% 9% Good Average Bad 84%
Inference: 84% of respondents opined that their opinion about other banks and NBFCs in gold loan business is only average. But 9% opined their performance is good and 7% opined their performance is bad. Table No: 4.13 Percentage of respondents who opined for raising gold loan limit from 25 lakhs Opinion about gold loam limit It should be raised It need not be raised Total No. of Respondents 3 47 50 % of respondents 7 93 100
Chart No:4.15
Opinion about gold loam limit

7%
It should be raised It need not be raised 93%
Inference: 93% of respondent opined that the represent gold loan limits of 25 lakhs in KSFE need not be raised. Table No: 4.14 Percentage of respondents on the basis of opinion about period of gold loan Opinions period of gold loan Up to 6 month Up to 12 months more than 12 months Total No. of respondents 35 14 1 50 % of respondents 71 27 2 100
Chart No:4.16 Percentage of respondents on the basis of opinion about period of gold loan
Opinion about period of gold loan

2%
27%
Up to 6 month Up to 12 months 71% more than 12 months
Inference: The above table and chart reveals that the period of gold loan should be 6 months (71%) followed by 1 months (2 7%). But they are not satisfied with the present practice of payments at 30 days intervals. Table No:4.15 Percentage Respondents on the basis of opinion about procedural formalities followed by KSFE Opinion about procedural formalities 1. Quick and Easy 2. Average Response 3. Too much delaying Total No. of Respondents 28 22 50 % of Respondents 56 44 100
Chart No:4.17 Percentage of Respondents on the basis of procedural formalities
Opinion about Procedural formalities
44% 56%
Quick and Easy Average Responce Too Much Delaying
Inference:
The above table and chart reveals that the
procedural formalities in KSFE is Quick and easy opined by majority of Respondents (56%). But 44% opined that the
procedural formalities in KSFE gold loan is having only average Response.
Table No:4.16 Percentage of respondents on the basis of opinion about transaction cost Opinion about transaction cost A. Reasonable (Minimum) B. Un Reasonable (High) Total 50 100 45 5 91 9 No. of Respondents % of Respondents
Chart No:4.18 Percentage of respondents on the basis of opinion about transaction cost.
Opinion about transaction cost

9
Resonable Unresonable
91
Inference: From the above table and chart we can conclude the transaction cost of KSFE gold loan is reasonable (Minimum) based on the opinion of 91% of Respondents. Only 9% has inverse opinion. minimum. So transacti on cost is
Table No:4.17 Percentage of Respondents on the basis o f opinion about interest rate. Opinion about interest rate A. Reduce by .5% B. Reduce by 1% C. Reduce by 2% D. Reduce by more than 2% Total No. of Respondents 24 22 4 50 % of Respondents 49 44 7 100
Chart No:4.19 Percentage of Respondents on the basis of opinion about interest rate.
Opinion about interest rate

0% 7% reduce by 5%
49% 44%
reduce by 1%
reduce by 2%
reduse by more than 2%
Inference:
Even though KSFE is offering less interest
rate for gold loans, the customers are expecting marginal reduction in interest rate. 49% of respondents have an
opinion of reducing interest by 1% where 44% of respondents chose 2% reduction. 7% of respondents want more than 2% reduction in interest. So 1 to 2 percentage reduction interest rate will satisfy the gold loan customers. So there is
unanimity regarding reduction of interest rate among the respondents.
Table No: 4.18 Percentage of Respondents on the basis of opinion about penal interest. No. of Opinion about penal interest Respondents respondents Reasonable Unreasonable Total 36 14 50 73 27 100 % of
Chart No:4.20
Opinion about penal interest
27% Resonable Unresonable 73%
Inference: From the above table and chart we can see 73% of Respondents have positive opinion about penal interest where 27% are of the opinion that penal interest in KSFE is high.
Table No:4.19 Percentage of respondents on the basis of opinion about the nexus between rising gold price and demand for gold loan. Opinion about Motivated by rising gold prices Motivated by rising gold prices Not-Motivated by rising gold prices Total No. of % of
Respondents respondents 40 80
10 50
20 100
Chart No:4.21 Percentage of respondents on the basis of opinion about the nexus between rising gold price and demand for gold loan.
Opinion about Motivation by rising gold prices

20%
Motivated by rising gold prices Not-Motivated by rising gold prices
80%
Inference: From the above table and chart it is clear that the rising gold price is have a positive impact on the gold
loans availed by customers, based on the opinion of 80% of respondents. Only 20% of respondents have inverse opinion about this. It may be due to the fact that rising gold prices will enable a person to secure mor e gold loan amount for the gold article.
Table No:4.20 Percentage of respondents on the basis of opinion about the rising gold price and advent of more gold related business activities. Opinion about rising gold prices Yes No Total No. of % of respondents Respondents 46 4 50 92 8 100
Chart No:4.22 Percentage of respondents on the basis of opinion about the rising gold price and advent of more gold related business activities.
Opinion about rising gold prices

8
Yes No
92
Inference: From the above table and chart we can inform that the rising gold price will have positive impact on the multiplicity of gold business based on the opinion of 93% of respondents only 7% has inverse opinion. So rising gold price will flourish more and more gold business opportunities.
Table No:4.21 Percentage of respondents on the basis of suggestion about gold loan business carried on by KSFE. Suggestions about gold loan business of KSFE Satisfied with the present scheme Reduce interest rate Increase gold loan repayment period Provide quick & hassle free procedure Enhance gold loan limit Total No. of % of
Respondents respondents 25 20 2 50 40 4
2 1 50
4 2 100
Chart No:4.23 Percentage of respondents on the basis of suggestion about gold loan business carried on by KSFE.
Suggestions about gold lon business of KSFE

60 50 50 40 40 30 20 10 4 0 Satisfied with Reduce interest Increase gold Provide quick & Enhance gold the present rate loan repayment hassle free loan limit scheme period proceedure 4 2
Inference: From the above table and chart it is clear that 50% of KSFE gold loan customers are satisfied with the present gold loan scheme of KSFE. 40% suggested to reduce interest rate only 2% opined to in crease present gold loan limit in KSFE. 4% suggested to increase gold loan repayment period and another 4% suggested to provide Quick and basic free procedure.
CHAPTER 5 FINDINGS, RECOMMENDATIONS, CONCLUSIONS By conducting a project study title d , An analysis of gold loan business of KSFE Ltd, based on the primary data and secondary data of the period 2005 -2010, following findings have been noticed. FINDINGS: From the analysis it is found that amount disbursed under gold loans shows an increasing trend. There is no provision made for gold loan. During this five
year period it was always at an increasing trend and it has never slipped downwards. In the loans and advances of KSFE gold loan business is very important. Of the 19 items in the loan portfolio, gold loan business itself holds around 15% share. So, gold loan business is a very significant
financial product of KSFE Ltd. The interest receipts of KSFE from the gold loan business is always showing an increasing trend. Its
average rate of increase is around 20%. In the total income of KSFE gold loan interest itself contributes around 13%. SO it is a major source of revenue to KSFE. Middle aged peoples are the major customers of KSFE gold loan. Gold loan is frequently used by customers mainly to meet short term needs. Simple procedure and easiness in getting cash makes gold loan more acceptable than other loans. Less interest rate, Quick access and confidence in KSFE, attract more and more customers to them . The present gold loan limit of Rs25 lakhs per individual per day is satisfactory to its customers. Even though people are satisfied with the present gold loan period of six months, they are not in favour for the current practice of renewal with in thirty days each. The gold loan transaction cost and penal interest rate are reasonable to customers.
Compared to other institutions KSFE is char ging less interest rate but customers are ex pecting a 1 to 2% interest rate cut. The gold loan price has a significant impact on the gold loan decision by the customers rising gold price is a stimulating factor for availing gold loan. The rising gold loan price will flourish more and mo re gold business opportunities i n the country. Majority of the customers are fully satisfied with the present gold loan scheme of the KSFE. There is a good image about KSF E gold loan among the customers as KSFE Ltd is a government patronage organization. Recommendations: Increase the gold loan repayment period Reorganize the present practice of renewal of gold loan from the present 30 days period to at least 6 months. Offer more accessibility by opening branches in rural areas.
Give more importance to advert isements through medias.
Try to give more value of gold as gold loan. Try to reduce gold loan interest rate. Improve infrastructural facilities and give more importance to gold loan counters.
Maintain
good
customer
relations
and
keep
informed about important changes through S M S , other medias etc to customers. Design special gold loan schemes for different purposes. KSFE being a gold loan provider , it is suggested that with the approval of RBI, Bank Lockers may be introduced in branches for hiring by customers. With the consent of RBI, sale of gold coin say, 4 gm, 8 gm, 16 gm, 24 gm etc may be started through its branches.
CONCLUSION The study revealed that KSFE is well performing in the gold loan business. KSFE is a mis cellaneous non banking
finance company owned by Government of Kerala and is having a very good public image. It is giving due importance to its loan portfolio especially to gold loan. It has an
important role in the economic and social development of Kerala State. Being a state enterprise , having more social
responsibility, KSFE can render value added services in a competitive way, so that the exploitative role of private organizations in similar businesses can be checked to a possible extent.

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1 Analysis of Gold Loan Business of K.S.F.

troy ounce (1troy ounce = 31.1gm).

2 Analysis of Gold Loan Business of K.S.F.E

requirements, thus harnessing the yellow metal which is

Department of Commerce and Management Studies

St. Thomas College, Thrissur

3 Analysis of Gold Loan Business of K.S.F.E

Department of Commerce and Management Studies

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4 Analysis of Gold Loan Business of K.S.F.E

But in the midst of

5 Analysis of Gold Loan Business of K.S.F.E

Department of Commerce and Management Studies

St. Thomas College, Thrissur

6 Analysis of Gold Loan Business of K.S.F.E

Department of Commerce and Management Studies

St. Thomas College, Thrissur

7 Analysis of Gold Loan Business of K.S.F.E

Department of Commerce and Management Studies

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8 Analysis of Gold Loan Business of K.S.F.E

Money on a substitute for money.

Department of Commerce and Management Studies

St. Thomas College, Thrissur

9 Analysis of Gold Loan Business of K.S.F.E

also enhances the

10 Analysis of Gold Loan Business of K.S.F.E

Moreover deep gold mining is very much

are about 18% to 24% in organized sector and 40%.

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Manappuram finance limited, the second largest player in gold

Department of Commerce and Management Studies

St. Thomas College, Thrissur

12 Analysis of Gold Loan Business of K.S.F.E

Department of Commerce and Management Studies

St. Thomas College, Thrissur

13 Analysis of Gold Loan Business of K.S.F.E

To widen the gold loan business , she

examine the credit analysis, to know the effectiveness of chit

14 Analysis of Gold Loan Business of K.S.F.E

Department of Commerce and Management Studies

St. Thomas College, Thrissur

15 Analysis of Gold Loan Business of K.S.F.E

development of KSFE Ltd, particularly in chit business.

The study summarizes that the presence of

Department of Commerce and Management Studies

St. Thomas College, Thrissur

16 Analysis of Gold Loan Business of K.S.F.E

The growing presence of the unregistered chit fund

In fact the profitability of bank is

Department of Commerce and Management Studies

St. Thomas College, Thrissur

17 Analysis of Gold Loan Business of K.S.F.E

Department of Commerce and Management Studies

St. Thomas College, Thrissur

18 Analysis of Gold Loan Business of K.S.F.E

INDUSTRIAL PROFILE Non-banking financial companies (NBFCS) have

Department of Commerce and Management Studies

St. Thomas College, Thrissur

19 Analysis of Gold Loan Business of K.S.F.E

Department of Commerce and Management Studies

St. Thomas College, Thrissur