NRI scheme: Kerala to launch ‘Pravasi Bhadratha Micro’ scheme

State Finance Minister K.N. Balagopal will launch the scheme on Tuesday (October 26, 2021) named as NORKA ‘Pravasi Bhadratha Micro’

PRAVASISAMWAD.COM

Indian state of Kerala has decided to start entrepreneurship scheme for small enterprises that will be implemented through the Kerala State Financial Enterprises (KSFE).

State Finance Minister K.N. Balagopal will launch the scheme on Tuesday (October 26, 2021) named as NORKA ‘Pravasi Bhadratha Micro’.

The scheme also has a capital subsidy of up to 25 per cent of the project cost. For prompt payment an interest subsidy of 3 per cent is on offer for the first four years.

The scheme is for those non-resident Keralites who rendered jobless during Covid-19 pandemic. Two other entrepreneurship assistance schemes envisaged by NORKA and announced by the State Government in August are designed for helping the NRIs in distress due to Covid, The Hindu reported.

There is a loan provision up to Rs 5 lakh for the NORKA ‘Pravasi Bhadratha Micro’ scheme.

The scheme also has a capital subsidy of up to 25 per cent of the project cost. For prompt payment an interest subsidy of 3 per cent is on offer for the first four years.

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