Scribd
Upload
423 views1 page

Norka PDF

The document outlines a special scheme by the Government of Kerala's Nodal Agency NORKA to provide financial assistance to returning emigrants wanting to start their own business. The scheme aims to enable returning emigrants to become entrepreneurs by providing guidance, standard capital subsidies up to Rs. 2 lakhs, and connecting them with agencies that can help them comply with procedures. Eligible applicants must have lived abroad for at least 2 years, register with NORKA ROOTS, and be selected by a screening committee. The scheme provides term loans and working capital up to Rs. 18 lakhs with 10% margin and 0% processing charges at an interest rate of base rate + 0.55% over 84 months.

Uploaded by

Greatway Services
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
423 views1 page

Norka PDF

The document outlines a special scheme by the Government of Kerala's Nodal Agency NORKA to provide financial assistance to returning emigrants wanting to start their own business. The scheme aims to enable returning emigrants to become entrepreneurs by providing guidance, standard capital subsidies up to Rs. 2 lakhs, and connecting them with agencies that can help them comply with procedures. Eligible applicants must have lived abroad for at least 2 years, register with NORKA ROOTS, and be selected by a screening committee. The scheme provides term loans and working capital up to Rs. 18 lakhs with 10% margin and 0% processing charges at an interest rate of base rate + 0.55% over 84 months.

Uploaded by

Greatway Services
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 1

SPECIAL SCHEME FOR RETURNING EMIGRANTS- NODAL AGENCY NORKA (NON-RESIDENT

KERALITES AFFAIRS)
AREA OF OPERATION KERALA STATE
Objective a. To enable the returning emigrants to become an entrepreneur on a modest
scale by giving suitable guidance and standard capital subsidy, under
Government of Keralas NORKA scheme.
b. To explore the possibility for the existing agencies to accept the returning
emigrants as special customers and handhold them to comply with
Government procedures to start any new business.
c. To develop a sustainable business model, for the livelihood of returning
emigrants.
d. To provide seed capital to the emigrants who has already started a venture /
intends to modernize / expand the existing unit.
Eligibility The applicants under scheme shall have the following eligibility traits:
a. The applicants are emigrants who have returned permanently to household
after living abroad for atleast 2 years.
b. The applicants under the scheme have to register themselves with NORKA
ROOTS for availing benefits of the scheme including Government subsidy.
c. The applicants should have been selected by the Screening Committee of
NORKA ROOTS which comprises officials from participating financial
institutions and experts from State Government departments.
d. The eligible applicant should have identity card issued by the competent
authority, as per local rules.

Nature of credit facility Term Loan and working Capital


Margin 10% of the cost of the project
Quantum of finance Maximum : Rs.18 lakhs
Government subsidy 10% of the project cost, subject to a maximum of Rs.2 lakhs and the same shall be
and subsidy available as BACK ENDED seed capital from Government of Kerala, through Nodal
administration Agency, NORKA ROOT
Processing Charges NIL
Rate of interest Base Rate+0.55%
Repayment Maximum 84 Months (Subject to Conditions)
Validity 31.03.2015

Conditions apply. The information provided above is only illustrative and not exhaustive.
Contact: For more details, please contact your nearest: Canara Bank Branch or E-mail to:[email protected]

You might also like