Published Jul 03, 2025 | 7:59 PM ⚊ Updated Jul 03, 2025 | 7:59 PM
NORKA, SBI renew agreement for expatriate loan scheme
The NORKA Department Project for Returned Emigrants (NDPREM) Entrepreneurial Loan Scheme will continue for another three years, with NORKA Roots and State Bank of India (SBI) renewing their agreement.
The pact was signed by NORKA Roots CEO Ajit Kolassery and SBI Deputy General Manager Muhammad Umar at a function held at the NORKA Centre in Thycaud in Thiruvananthapuram on Thursday.
Implemented by the state government through NORKA Roots, NDPREM offers financial support to expatriates who have returned after at least two years of work abroad.
The scheme, available through 1,200 SBI branches in Kerala, provides loans up to ₹30 lakh for starting or expanding businesses in sectors like MSME, agriculture, retail, and taxi services.
Beneficiaries are eligible for a 15% capital subsidy and 3% interest subsidy for timely repayments.
Applications can be submitted via www.norkaroots.org, with free training and project report preparation assistance also provided.
