Chitty to raise funds for coastal, hill highway

Roping in Non-Resident Keralites (NRKs) by enrolling them for the Pravasi Chitty of Kerala State Financial Enterprises (KSFE) has been mooted for the construction of the 1,267-km Hill Highway and the 630-km Coastal Highway. The target is to get the chitty subscribed by at least one-lakh NRIs in the first year and to mobilise Rs.10,000…

Kerala to raise Rs 10,000 crore from NRKs to fund 2 highways

The Pinarayi Vijayan-led Left Front government in Kerala is tapping the cash-rich expats from the state to mop up Rs 10,000 crore to finance major infrastructure projects by launching an NRK bond called ‘Pravasi Chitti’ (chits for the expats). The chits will be launched by the Kerala State Financial Services Enterprises (KSFE), a wholly-owned non-banking…

Kerala to raise NRK funds for development

Kerala Government will raise Rs 10,000 crore from the non-resident Keralites spread across the globe to finance its two new highway development projects. The money will be raised by launching a Pravasi Chitti scheme by the Kerala State Financial Enterprises (KSFE), a wholly-owned non-banking company of the State Government. The target of the government is…