Pravasi Loan schemes for Backward Expatriate. The government is launching a number of schemes. To ensure the economic and social security of the expatriate person. There are various types of expatriate financial assistance schemes available in conjunction with NorKa Roots. Here is a financial assistance scheme provided by the State Backward Development Corporation for expatriates belonging to religious minorities. Understand in detail what needs to be done to avail the benefits of the scheme. Pravasi Loan schemes for Backward Expatriate to start a business.
As it is a scheme for expatriates, the applicant must be registered with Norka-Roots. Financial assistance up to `30 lakh is available. The repayment period is 84 months.
It can be submitted by expatriates who have lost their jobs or returned home after quitting their jobs. This loan scheme should be used to find a job of your own. Self-employment should start in three areas: production, service, and agriculture.
However, only expatriates belonging to religious minorities can apply for this scheme. One such financial assistance has been set up under the State Backward Development Corporation Return Scheme. This includes those in the OBC category.
Before applying for the loan you need to register in Norka and obtain a certificate from there. Letters received from here will be forwarded to the District Sub-District Corporation Offices.
Documents proving that you have been sent into exile for a minimum of two years are required to register with NORKA. You can apply for the scheme only after settling in Kerala. The scheme is designed to provide a livelihood for those who have lost their jobs until they return home.
Loans up to 95% of the amount required to start a venture are available. The remaining five percent is to be found in the entrepreneurial can. The interest rate is between six and eight percent.
Age between the ages of 18 and 55 can apply for this scheme. If the amount is repaid on time, the interest will be deductible for the first four years. In addition, a subsidy of 15 percent of the amount is available.
5% reduction in interest on total repayment. If the repayment is made correctly, only a small amount of the loan amount will be repaid.
Those wishing to start can register at NORKA and submit their recommendation to the backward Development District Sub-District Offices. Most of the schemes related to work want to register on the official website. All kinds of people are helpful for these schemes. The Eligibility criteria are very important. So please read all the instructions before applying for the loan. And also upload all the necessary documents correctly. otherwise, the application will be rejected.
In the agricultural sector, the money can be used for vegetable cultivation, dairy farms, and aquaculture, as well as other sectors such as bakeries, hardware shops, sanitary ware shops, workshops, restaurants, beauty parlors and driving schools, ice cream shops, etc.
Everyone in the OBC, backward under the Backward Development Corporation can find self-employment through this financial assistance scheme affiliated with NORKA. Currently, there is a lot of scheme like Pravasi Bharathi.