KMPS, is one that belongs to the Indian finance sector.

Their core business is borrowing and lending money between their members. They are also known as Permanent Fund, Benefit Funds, Mutual Benefit Funds and Mutual Benefit Company. They are regulated by Ministry of Corporate Affairs. Reserve Bank of India is empowered to issue directions to them in matters relating to their deposit acceptance activities. However, in recognition of the fact that these companies deal with their shareholder-members only. The basic concept of KMPS is "Principle of Mutuality"

KMPS are governed by their own Rules, They are incorporated in the nature of Public Limited company and hence, they have to comply with set of norms, one of Public limited company as per Company. No RBI approval is necessary to register the company, Every KMPS shall, within a period of one year from the commencement must ensure that it has not less than 200 members.