NORKA DEPARTMENT PROJECT FOR RETURNED EMIGRANTS (NDPREM)

NORKA Department Project for Returned Emigrants (NDPREM) is a scheme implemented by the Government to facilitate self-employment opportunities in the State for expatriates returning to Kerala. Under this scheme, banks participating in the programme provide loans in various sectors such as agriculture, fisheries, animal husbandry, commerce, small-scale industry, service sector, construction sector, and business. Entrepreneurs can avail 15% capital subsidy and a 3% interest subsidy for the first 4 years for projects up to 30 lakhs to establish new enterprises. Basic training, assistance in preparing project documents, and support in securing loans through CMD, a government agency, are provided to entrepreneurs. As part of the expansion of the expatriate rehabilitation scheme, loan availability has been extended through MoUs with 19 financial institutions. After selecting any of these financial institutions, the application submitted by the beneficiary is recommended and sent to the financial institution and the financial institutions approve the loan after checking its feasibility.

Details of financial institutions are mentioned below:-

1. State Bank of India
2. Canara Bank
3. Bank of Baroda
4. Federal Bank
5. South Indian Bank
6. Indian Overseas Bank
7. Union Bank of India
8. Bank of India
9. UCO Bank
10. Dhanalakshmi Bank
11. Indian Bank
12. Kerala Bank
13. Kerala State Cooperative Agricultural Rural Development Bank
14. Kerala Financial Corporation
15. Kerala State Backward Classes Development Corporation
16. Kerala State SC/ST Corporation
17. Kerala State Women Development Corporation
18. Kerala State Pravasi Welfare Development Co-operative Society Limited (Malappuram)
19. Travancore Pravasi Development Co-operative Society (Thiruvananthapuram)