Kerala to Provide Rs 100 Crore in Loans for Returning NRIs to Start Enterprises

Thiruvananthapuram: The Kerala government will disburse a total of Rs 100 crore in loans to Non-Resident Indians (NRIs) returning to the state, enabling them to start or expand enterprises. The initiative will be implemented in collaboration with Kerala Bank as part of the NORKA Department Project for Returned Emigrants (NDPREM). The loans will be distributed during the current financial year through NORKA Roots, the state agency supporting expatriates.
The decision was taken during a review meeting held at the NORKA Centre in Thiruvananthapuram. NORKA Roots Resident Vice Chairman P. Sriramakrishnan and Kerala Bank Chairman Gopi Kottamurickal led the discussions. One of the key proposals discussed was the possibility of waiving collateral for loans up to Rs 10 lakh under the NDPREM scheme. Kerala Bank will introduce a new entrepreneurial loan scheme to facilitate this. It was also decided to conduct 30 loan fairs across Kerala starting after August to ensure wider outreach.
Kerala Bank representatives assured full support for the rehabilitation programmes being carried out by NORKA Roots. The meeting was attended by NORKA Roots CEO Ajith Kolasseri, Kerala Bank CEO Jorty M. Chacko, and NORKA Roots General Manager T. Rashmi.
Seventeen banking and financial institutions, including Kerala Bank with 823 branches across the state, are involved in implementing the scheme. NRIs who have worked abroad for at least two years and have returned to Kerala are eligible to apply. The scheme supports both the establishment of new ventures and the expansion of existing ones. Loans of up to Rs 30 lakh are available. Those who repay the loan on time will receive a 15 percent capital subsidy and a 3 percent interest subsidy.
More information about the scheme is available through the NORKA Global Contact Centre. Toll-free numbers are 1800 425 3939 for calls from India, and +91-8802 012 345 for missed call service from abroad. Details can also be accessed at www.norkaroots.kerala.gov.in.