Highlighting concerns from expatriates about delays and poor cooperation from banks — even those with high credit-deposit ratios — Sreeramakrishnan stressed the need for efficient loan disbursal.
Published Jul 10, 2025 | 8:23 AM ⚊ Updated Jul 10, 2025 | 8:23 AM
P Sreeramakrishnan speaking at the event.
NORKA ROOTS Resident Vice Chairman P Sreeramakrishnan urged banks in Kerala to extend wholehearted support to returning expatriates by providing timely loans to help them start self-employment ventures.
He was inaugurating a meeting of bank representatives associated with the Norka Department Project for Returning Emigrants (NDPREM) at the Residency Tower in Thiruvananthapuram.
Highlighting concerns from expatriates about delays and poor cooperation from banks — even those with high credit-deposit ratios — Sreeramakrishnan stressed the need for efficient loan disbursal.
NDPREM is the state’s lone rehabilitation scheme for expatriates, and thousands of Micro, Small, and Medium Enterprises (MSMEs) have already emerged under it.
NORKA Department Secretary S Harikishore proposed holding loan fairs in partnership with banks and appointing nodal officers to fast-track loan procedures. Canara Bank Deputy General Manager Ajay Kumar Singh said empowering returning expatriates is crucial for grassroots development.
NORKA ROOTS CEO Ajith Kolassery revealed that 9,000 enterprises have been established through NDPREM, generating 25,000 jobs with an investment of ₹681 crore. The target for 2025–26 is 2,000 new ventures.
Bank representatives sought an online platform for NDPREM and better financial literacy for applicants, while flagging rising NPAs as a challenge.
