KSFE chit scheme likely for Smart Kitchen project


Thiruvananthapuram: The Kerala State Financial Enterprises (KSFE) may start a chit fund scheme for the state government’s ‘Smart Kitchen’ project, meant to ease the burden on housewives. 

The aim is to ensure home appliances in every household. Women could pay for the appliances in instalments over a period of few years. Various packages would be prepared for this purpose.

The ‘Smart Kitchen’ project was promised in the LDF election manifesto and in the previous State budget. The manifesto had stated that the LDF’s plan to make Kerala the first State to have washing machines, grinders and refrigerators in all households, in that order.  

The interest on loans would be divided into three, with the beneficiary housewife requiring to pay only one-third of the amount. The remaining amount would be paid by the local body and government. 

The project may consider mortgage-free loans to those who apply through Kudumbashree. KSFE Chairman Philipose Thomas expressed his firm’s willingness to grant the loans. 

Considering the better loan repayment capability, the non-banking finance company has suggested rolling out the project through Kudumbashree. 

Chief Minister Pinarayi Vijayan has assigned the Chief Secretary, and secretaries in the departments of local self-government, and women and child welfare to prepare a project report.

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