SPECIAL SCHEME FOR RETURNING EMIGRANTS- NODAL AGENCY NORKA (NON-RESIDENT

KERALITES AFFAIRS)
AREA OF OPERATION KERALA STATE
Objective a. To enable the returning emigrants to become an entrepreneur on a modest
scale by giving suitable guidance and standard capital subsidy, under
Government of Keralas NORKA scheme.
b. To explore the possibility for the existing agencies to accept the returning
emigrants as special customers and handhold them to comply with
Government procedures to start any new business.
c. To develop a sustainable business model, for the livelihood of returning
emigrants.
d. To provide seed capital to the emigrants who has already started a venture /
intends to modernize / expand the existing unit.
Eligibility The applicants under scheme shall have the following eligibility traits:
a. The applicants are emigrants who have returned permanently to household
after living abroad for atleast 2 years.
b. The applicants under the scheme have to register themselves with NORKA
ROOTS for availing benefits of the scheme including Government subsidy.
c. The applicants should have been selected by the Screening Committee of
NORKA ROOTS which comprises officials from participating financial
institutions and experts from State Government departments.
d. The eligible applicant should have identity card issued by the competent
authority, as per local rules.

Nature of credit facility Term Loan and working Capital

Margin 10% of the cost of the project
Quantum of finance Maximum : Rs.18 lakhs
Government subsidy 10% of the project cost, subject to a maximum of Rs.2 lakhs and the same shall be
and subsidy available as BACK ENDED seed capital from Government of Kerala, through Nodal
administration Agency, NORKA ROOT
Processing Charges NIL
Rate of interest Base Rate+0.55%
Repayment Maximum 84 Months (Subject to Conditions)
Validity 31.03.2015

Conditions apply. The information provided above is only illustrative and not exhaustive.
Contact: For more details, please contact your nearest: Canara Bank Branch or E-mail to:hosbu@canarabank.com