Scheme for Chit remittance from Exchange Houses and Banks
Introduction: The Kerala State Financial enterprises Ltd. (KSFE), a Kerala Government owned Miscellaneous Non-Banking Company, established in 1969 with an impressive growth rate and has a current turnover around 36,000 Crores INR, is planning to roll out Pravasi Chits for Non-Resident Keralites (NRKs), across the globe. To start with it shall be launched…
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…