Thiruvananthapuram, Dubai:NORKA Roots has renewed its agreement with the State Bank of India (SBI) for the continuation of the NDPREM (Norka Department Project for Returned Emigrants) scheme, aimed at supporting entrepreneurial ventures by returning NRIs (Non-Resident Indians).The agreement was signed at the NORKA Centre in Thycaud, Thiruvananthapuram. Ajith Kolasseri, CEO of NORKA Roots, and Mohammed Umar, Deputy General Manager of SBI, represented their respective organizations. The renewed agreement will be effective for the next three years.Under the scheme, NRIs who have worked abroad for at least two years and have returned to Kerala can avail of business loans through any of SBI’s 1,200 branches across the state. The NDPREM project, implemented by the Government of Kerala through NORKA Roots, facilitates reintegration and rehabilitation of returnees through self-employment support.SBI is among 17 banking and financial institutions participating in the implementation of the scheme.
Eligible returnees can utilize the scheme to start or expand businesses in various sectors, including taxi services, MSME-based manufacturing and service industries, agriculture, and retail. Loans of up to ₹30 lakh are available under the program.
Borrowers who make timely repayments are entitled to a 15% capital subsidy and a 3% interest subsidy. Applications can be submitted via the official NORKA Roots website: www.norkaroots.org. In addition, NORKA Roots provides free support for preparing project reports and necessary training for applicants.For more information, applicants can contact the NORKA Global Contact Centre via the toll-free numbers: 1800 425 3939 (within India) or +91-8802 012 345 (missed call service from abroad).
