Pravasi Chitty Scheme Kerala

Pravasi Chitty Scheme In Kerala 2018 NRI Chit Scheme (Pravasi Bandhu Sangamam )

The state government (Kochi) has made a very recent announcement of delaying the launch of the New Pravasi Chitty Scheme. The new scheme was aimed at mobilizing the overall sum of Rs 10,000 crore through the state owned non banking financial institutions and Kerala state Financial enterprise (KSTF). According to the latest updates the further delays have been made on account of delays from back end system that needs more changes and rectifications.

New Pravasi Chitty Scheme In kerala

New launch details

The officials have not yet clearly announced the exact dates of its launch but according to updates it is obvious that the government aims at launching the scheme fully functional by March 2018 – First week.

Key features

  • The officials have already confirmed that the software that was developed by the NIC (National Informatics Center) has already completed the testing stage successfully.
  • For better implementation of the scheme the government has also conducted over 160 different meetings (Pravasi Bandhu Sangamam). The meetings were conducted by involving relatives of all Keralites who are non residential.
  • The state government has also agreed that the feedbacks it has managed to collect via these meetings have proved to be very much encouraging. The officials have also stated that the state government aims at launching the new scheme after the completion of the budget cycle.
  • The state government officials have also made it very clear that immediately after the launch of the new scheme the government can expect to collect big amount of money that will be invested by NRKs (Non Resident Keralites).
  • Till date the state government has also managed to collect and convince over two lakh investors who are willing to make a big investment in the scheme in the first year of its launch.
  • With this in mind the government officials have already made it very clear that the present bench mark of collect over Rs 10,000 crore from the scheme will be easily achieved and much more amount will be collected within the first year of implementation from the scheme.

Governments expectations from the scheme

  • According to the officials presently there are over 50 lakh people who make remittances to the state on regular basis every year. The state government aims at making use of the overall remitted money in various government development schemes.
  • This would be made by the state government within the period of next five years such that the money remitted will be diverted in various projects through the NRI chitties.
  • The money will be used for improving the infrastructure of the state. A board will also be set up by the state government termed as KIIFB (Kerala Infrastructure Investment Fund Board) that will be responsible for using the funds.


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