Latest news with #RBI-mandated
Time of India
25-05-2025
- Business
- Time of India
Kerala Financial Corporation reports record profits for FY 2024-25
T'puram: Kerala Financial Corporation (KFC) reported a record performance for the 2024-25 financial year with a net profit of Rs.98.16 crore – an increase of 32.56% from the previous year. The corporation's loan portfolio crossed the Rs 8,000-crore milestone for the first time, reaching Rs 8,011.99 crore, while its net worth increased to Rs 1,328.83 crore, underlining robust financial growth. "The state govt infused a capital of Rs 920 crore into KFC, including Rs 500 crore during this govt's tenure. This support enabled KFC to offer loans to MSMEs at interest rates starting from just 5%. The growth of KFC mirrors the broader progress in Kerala's industrial sector," said finance minister KN Balagopal. The infusion of Rs 200 crore in share capital in FY 2024–25 helped KFC significantly strengthen its capital adequacy ratio (CRAR), now at 28.26%, well above the RBI-mandated minimum of 15% for NBFCs. In addition, KFC achieved notable progress in asset quality, bringing gross NPA down to 2.67% (from 2.88%) and net NPA to 0.61% (from 0.68%). During the year, KFC sanctioned Rs 4,002.57 crore loans to MSMEs, startups, and other sectors. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng với sàn môi giới tin cậy IC Markets Đăng ký Undo Total loan disbursement came to Rs 3,918.40 crore, and the total loan recovery was Rs 3,980.76 crore. Under CM's Entrepreneurship Development Programme (CMEDP), KFC supported 3,028 MSMEs with Rs 1,030.89 crore loans at 5% interest, generating an estimated 81,634 direct and indirect employment opportunities. Additionally, under the Startup Kerala Scheme, 72 startups were assisted with Rs 95.20 crore as collateral-free loans, promoting innovation and entrepreneurship across the state. KFC aims to achieve a loan portfolio of Rs 10,000 crore by the end of this year. To meet this ambitious target, the corporation plans to diversify its operations into new sectors, with a continued focus on supporting MSMEs, the tourism industry, and startups. To enhance operational efficiency and deliver superior services, KFC will undergo a comprehensive digital transformation this year. This includes modernising its offices and infrastructure, as well as providing quality training to its staff.
Time of India
25-05-2025
- Business
- Time of India
Bank holidays 2025: Are banks closed on Monday, May 26? Check here
Bank holidays Monday, May 26: In India, banks stay closed on specific days due to national, state-level, and RBI-mandated holidays. As per the RBI holiday calendar, Monday, May 26, 2025, will be a bank holiday in Tripura to mark the birthday of Kazi Nazrul Islam. Keep reading to know the complete list of bank holidays in May 2025, including details on bank holidays on Monday, the types of RBI-declared holidays, and how customers can still access services online. Why Are Banks Closed on May 26, 2025? Banks in Tripura will remain shut on Monday, May 26, 2025, to honour the birth anniversary of Kazi Nazrul Islam. Known as the 'Rebel Poet,' Kazi Nazrul Islam was a legendary Bengali writer, poet, journalist, and musician. His works championed equality, social justice, human values, and resistance against colonial rule. His fearless voice continues to inspire generations. If you're planning to visit a bank in Tripura around this date, make sure to check the RBI holiday list in advance to avoid any inconvenience. Bank Holidays in May 2025: Full List Here is the complete list of bank holidays in May 2025 declared by the Reserve Bank of India (RBI), including public holidays and region-specific closures: May 1 (Thursday) – Maharashtra Din / Labour Day May 9 (Friday) – Birthday of Rabindranath Tagore May 12 (Monday) – Buddha Purnima May 16 (Friday) – State Day May 26 (Monday) – Birthday of Kazi Nazrul Islam – Check here May 29 (Thursday) – Maharana Pratap Jayanti Besides these, banks will remain closed on all Sundays and the second and fourth Saturdays of the month, as per the RBI mandate. If a bank holiday falls on a Monday, like in the case of May 26, customers can expect a long weekend. RBI's Classification of Bank Holidays The Reserve Bank of India (RBI) divides bank holidays 2025 into three main categories: Holidays under the Negotiable Instruments Act Holidays under the Negotiable Instruments Act and Real-Time Gross Settlement (RTGS) holidays Bank account closing holidays Each category affects bank operations differently, especially regarding back-end processing and fund settlements. What Services Will Be Available During Bank Holidays? Even on days when physical bank branches remain closed, customers can still use several services online: Internet banking and mobile apps for fund transfers, balance checks, and payments NEFT/RTGS fund transfers (as per availability) ATM services and card payments Requests for chequebooks, DDs, or account updates through digital channels So, whether it's a bank holiday on Monday or any other day, your banking needs can still be met digitally. How to Check Bank Holidays in Your City? To check whether your bank is open on a particular day: Visit the official RBI website Look for regional bank holiday notifications Check notices posted in your local bank branch Staying updated helps you plan your visits better, especially during months with multiple closures like May. If you're living in or travelling to Tripura, take note that Monday, May 26, 2025, will be a bank holiday due to Kazi Nazrul Islam's birthday – check here for the official RBI holiday list. With several bank holidays in May 2025, including bank holidays on Monday, it's wise to complete important banking tasks in advance or rely on online options for uninterrupted service. For more informative articles on historical and upcoming events from around the world, please visit Indiatimes Events.
United News of India
24-05-2025
- Business
- United News of India
KFC records Rs 98.16 crore Net Profit, best-ever performance in history (RPT)
Thiruvananthapuram, May 24 (UNI) Kerala Financial Corporation (KFC), the State's premier development financial institution, has reported a record-breaking performance for the financial year ending March 31, 2025. KFC posted a net profit of Rs 98.16 crore, reflecting a 32.56% increase from the previous year, marking the highest-ever profit in its history. The Corporation's loan portfolio crossed the Rs 8,000 crore milestone for the first time, reaching Rs 8011.99 crore, while its net worth increased to Rs 1328.83 crore, underlining robust financial growth. 'The State Government has infused a capital of Rs.920 crore into KFC, including Rs.500 crore during this government's tenure. This support has enabled KFC to offer loans to MSMEs at interest rates starting from just 5%. The growth of KFC mirrors the broader progress in Kerala's industrial sector," Finance Minister KN Balagopal commented on Facebook. The infusion of Rs.200 crore in share capital in FY 2024–25 helped KFC significantly strengthen its Capital Adequacy Ratio (CRAR), now at 28.26%, well above the RBI-mandated minimum of 15% for NBFCs. In addition, KFC achieved notable progress in asset quality, bringing Gross NPA down to 2.67% (from 2.88%) and Net NPA to 0.61% (from 0.68%). During the year, KFC has sanctioned Rs.4002.57 crore loans to MSMEs, Startups and other sectors. Total loan disbursement comes to Rs 3918.40 crore and the total loan recovery is Rs 3980.76 crore. 'KFC's strong financial performance, particularly the industry-leading low net NPA of less than 1%, speaks to the Corporation's prudent lending practices. This record performance positions KFC as a key driver of Kerala's industrial and entrepreneurial advancement. We will remain committed to supporting Kerala's MSME and startup ecosystem, driving sustainable economic growth and job creation', said Dr. Sriram Venkitaraman, MD of KFC. Under the CM's Entrepreneurship Development Programme (CMEDP), KFC has so far supported 3028 MSMEs with Rs 1030.89 crore loans at 5% interest, generating an estimated 81,634 direct and indirect employment opportunities. Additionally, under the Startup Kerala Scheme, 72 startups were assisted with Rs 95.20 crore as collateral-free loans, promoting innovation and entrepreneurship across the State. KFC aims to achieve a loan portfolio of Rs 10,000 crore by the end of this year. To meet this ambitious target, the Corporation plans to diversify its operations into new sectors, with a continued focus on supporting MSMEs, the tourism industry, and startups. To enhance operational efficiency and deliver superior services, KFC will undergo a comprehensive digital transformation this year. This includes modernizing its offices and infrastructure, as well as providing quality training to its staff, Dr. Sriram said. UNI DS BD
The Hindu
24-05-2025
- Business
- The Hindu
Kerala Financial Corporation posts net profit of ₹98.16 crore in 2024-25
The Kerala Financial Corporation (KFC) has posted a net profit of ₹98.16 crore for the financial year ending March 31, 2025, reflecting a 32.56% increase from the previous year. This is the highest profit in the corporation's history. The corporation's loan portfolio also has crossed the ₹8,000 crore-mark for the first time, reaching ₹8,011.99 crore. The KFC also said on Saturday that its net worth has increased to ₹1,328.83 crore, underlining robust financial growth. The State government has infused a capital of ₹920 crore into KFC, including ₹500 crore during this current LDF government's tenure, Finance Minister K.N. Balagopal said. 'This support has enabled KFC to offer loans to MSMEs at interest rates starting from just 5%. The growth of KFC mirrors the broader progress in Kerala's industrial sector.' Mr. Balagopal said. The infusion of ₹200 crore in share capital in 2024–25 had helped KFC to significantly strengthen its Capital Adequacy Ratio (CRAR), now at 28.26%, well above the RBI-mandated minimum of 15% for NBFCs. In addition, KFC achieved notable progress in asset quality, bringing Gross NPA down to 2.67% from 2.88% and net NPA to 0.61% from 0.68%. During 2024-25, KFC sanctioned ₹4,002.57 crore loans to MSMEs, start-ups and other sectors. The total loan disbursement stood at ₹3,918.40 crore and the total loan recovery, at ₹3,980.76 crore.
Hans India
24-05-2025
- Business
- Hans India
Kerala Financial Corporation records ‘best ever' performance
Thiruvananthapuram: Kerala Financial Corporation (KFC), the state's premier development financial institution, has reported a 'record-breaking performance' for the financial year ending March 31, 2025. KFC posted a net profit of Rs 98.16 crore, reflecting a 32.56 per cent increase from the previous year, marking the highest-ever profit in its history. The corporation's loan portfolio crossed the Rs 8,000 crore milestone for the first time, reaching Rs 8011.99 crore, while its net worth increased to Rs 1328.83 crore, underlining robust financial growth. 'The state government has infused a capital of Rs 920 crore into KFC, including Rs 500 crore during this government's tenure. This support has enabled KFC to offer loans to MSMEs at interest rates starting from just 5 per cent. The growth of KFC mirrors the broader progress in Kerala's industrial sector,' said State Finance Minister K.N. Balagopal. The infusion of Rs 200 crore in share capital in FY 2024–25 helped KFC significantly strengthen its Capital Adequacy Ratio (CRAR), now at 28.26 per cent, well above the RBI-mandated minimum of 15 per cent for NBFCs. During the year, KFC has sanctioned Rs 4002.57 crore loans to MSMEs, Startups and other sectors. Total loan disbursement comes to Rs 3918.40 crore, and the total loan recovery is Rs 3980.76 crore. 'KFC's strong financial performance, particularly the industry-leading low net NPA of less than 1 per cent, speaks of the Corporation's prudent lending practices. This record performance positions KFC as a key driver of Kerala's industrial and entrepreneurial advancement. We will remain committed to supporting Kerala's MSME and startup ecosystem, driving sustainable economic growth and job creation,' said Sriram Venkitaraman, MD of KFC. Under the CM's Entrepreneurship Development Programme (CMEDP), KFC has so far supported 3028 MSMEs with Rs 1030.89 crore loans at 5 per cent interest, generating an estimated 81,634 direct and indirect employment opportunities. Additionally, under the Startup Kerala Scheme, 72 startups were assisted with Rs 95.20 crore as collateral-free loans, promoting innovation and entrepreneurship across the State. KFC aims to achieve a loan portfolio of Rs 10,000 crore by the end of this year. To meet this ambitious target, the corporation plans to diversify its operations into new sectors, with a continued focus on supporting MSMEs, the tourism industry, and startups. 'To enhance operational efficiency and deliver superior services, KFC will undergo a comprehensive digital transformation this year. This includes modernising its offices and infrastructure, as well as providing quality training to its staff,' added Sriram.
