What is Pravasi loan (NDPREM)?

Pravasi loan (NDPREM)  is to help the returned NRKs to find a reasonable steady income for their livelihood. NORKA ROOTS is the nodal agency who manages this scheme. Under this scheme NORKA ROOTS entered into MoUs with major banks namely State Bank of India, South Indian Bank and Union Bank. Kerala State Backward Classes Development Corporation and Kerala State Pravasi Welfare Development – Co-operative Society [PRAVASIS Ltd.] have signed MOU and are associating with the project. Banks will sanction loans for starting modest enterprises in areas of interest of the returned NRKs. NORKA ROOTS releases capital subsidy of 15% of the project cost, subject to a maximum of Rs. 20 lakhs and interest subsidy of 3% for the first 4 years, to those beneficiaries who are regular in payment. In case of default, the benefit can be availed only if the beneficiaries clear off his/her dues.

Eligibility for the NDPREM loan scheme 
  • Applicant should be an NRK (Non resident Keralites)
  • Applicant should register with NORKA ROOTS
  • The applicant should have not less than 2 years of work experience outside the country.
  • Loans open for MSMEs, agriculture, industries, merchant establishments, services, trading (shops),Services (repair shop, taxi, restaurant Flour Mills saloons)etc
  • Also, the Societies, trusts, companies formed by a group of returnees are suitable to apply
  • Moreover, the 15% subsidy on capital and a 3% rebate offers on the interest of loans.
Documents Required
  • The applicant must also upload soft copies of
  • Project details in PDF format – Finline can help in the financial proposal
  • Copies of Passports / Visas in PDF format
  • Image of the applicant in JPG format