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How popular are chit funds in India?<br />
Kerala State Financial Enterprises (KSFE), set up in<br />
1969 and wholly controlled by the state government.<br />
Out of its aggregate business turnover of Rs 18,000<br />
crore per year, around Rs 12,000 crore come<br />
from chittis (as they are known in Kerala) alone.With<br />
460 branches in Kerala and 16 lakh subscribers,<br />
KSFE is perhaps the only profit-making chit business in<br />
the public sector.
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