Latest news with #KSIC
Time of India
19-06-2025
- Business
- Time of India
Ex-KSIC employee, 6 contract staff booked for misappropriating Rs 18.8L
Mysuru: Karnataka Silk Industries Corporation (KSIC), which produces the popular Mysuru Silk Saris, lodged a complaint against its former employee and six other contract employees for allegedly cheating the govt agency by not depositing Rs 18.8 lakh. The fraud came to light when a new officer came to take charge from an in-charge sales officer attached to their KD Road showroom, who retired on May 31, according to police. Jayalakshmipuram police registered a case against a retired officer and six outsourced employees under various provisions of BNS, including cheating, forgery, and criminal breach of trust. The FIR was registered the previous week. The investigation officer said the probe is under way, and so far, no arrests were made. According to the FIR, a copy of which is with TOI, KSIC Silk Weaving Factory in-charge general manager Siddalinga Prasad said the incident came to light after Venkatesh assumed office as the new sales officer of KSIC's Kalidasa outlet. At the time of taking charge, the new officer found four undeposited bank cheques at the offices. About Rs 1.1 lakh wasn't deposited into KSIC's account. A further examination revealed that the money collected from Mysuru Silk Saris on loan wasn't deposited either. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like เทรดทองCFDs ด้วยค่าสเปรดที่ต่ำที่สุด IC Markets สมัคร Undo KSIC, being a govt agency, provides loan facilities for govt employees to purchase Mysuru Silk Saris, which are expensive. Such buyers must give post-dated cheques to the showroom from where they buy saris. As sales officers have power at their level to offer loans, the instalment received by the officer and the outlet wasn't deposited. Sources claim that about 60 people purchased saris on loan from the outlet and have been paying instalments every month. KSIC is now verifying any similar wrongdoings in other KSIC outlets. There are six outlets in Mysuru.
The Hindu
07-06-2025
- Business
- The Hindu
Production upped by 5,000 sarees per year, but demand for Mysore Silk still unmet
In the last two financial years (2023-24 and 2024-25), the Karnataka Silk Industries Corporation Limited (KSIC) has increased its production by 28,000 metres. This essentially translates to 5,000 sarees per year. Despite this, it is still finding it difficult to meet the extensive demand for the world-renowned Mysore Silk sarees. 'I visited the factory outlet of KSIC in Mysuru with the hope that I would be able to find multiple options. But I saw only eight sarees in total. I went around 2 p.m., and all the racks were empty, and the saleswomen were just sitting there. Most people who came to buy sarees were going back as they said new stocks would only come the next day,' said Tanisha Hegde, a resident of Bengaluru who had travelled to Mysuru to buy sarees. KSIC operates 14 showrooms across the State, including the ones in Bengaluru. Recently, many videos of women queuing up in front of KSIC showrooms on Saturdays, when new stocks arrive, hours before the showrooms open, have gone viral. While the first few of them manage to get sarees, the others go back empty-handed. On most other days, customers say that they cannot find any new sarees. The corporation said that if production is drastically increased, it will affect the quality. 'I have around five KSIC silk sarees and I am looking to buy something new for my daughter's wedding which is coming up in a few months. I know that I will not be able to handle the crowd on Saturdays. So, I have been to two showrooms in Bengaluru three times in the last two months but have had no luck in finding new designs of sarees,' said Kalpana Rajanna, a resident of Bommanahalli. KSIC officials acknowledged the supply crunch. 'There is a supply crunch, and especially in the last few months, the stocks are disappearing in minutes, as it is the wedding season. Recently, one customer picked up 15 – 20 pieces for a wedding. Similarly, many others have been buying five to six pieces at once,' Zehra Naseem, managing director, KSIC told The Hindu. 'Usually, sarees are available in factory outlets on all days. People exclusively want zari sarees as the quality of zari and the prices we offer are unmatched in the market. This is why people keep coming back to KSIC, and there is a constant demand,' she added. As an indicator of the growing demand and sales, the net profit of KSIC has gone up from ₹73.40 crore in 2023 – 24 to ₹96 crore in 2024 – 25. New colours, designs To keep up with the modern trends, KSIC has introduced new designs and new pastel colours to their sarees The officials said that colours like baby pink, light lemon yellow are in great demand among youngsters while the older customers still prefer colours like bottle green and mustard. Plain sarees with embroidery work in the range of ₹17,000 - ₹18,000 have also been introduced and are in great demand, they said. 'We are seeing a lot of demand for our sarees in muted colours. We have introduced 17 new ranges as designs,' Ms. Naseem said.
