Schemes launched for expatriates

THIRUVANANTHAPURAM:’The Kerala State Backward Classes Development Corporation has launched a ‘Re-turn’ scheme for the welfare of expatriates and a ‘Startup’ scheme for OBC professionals and religious minorities. Under the Re-turn scheme, beneficiaries can avail maximum loan of up to Rs 20 lakh with six to seven per cent interest to start a business venture.

Applicants should be in the 18 to 65 age group and have permanently returned from abroad. Norka Roots will provide a maximum of Rs 3 lakh as subsidy and charge only three per cent interest in the first four years of repayment.Under the Startup scheme, beneficiaries up to the age of 40 can apply for loan to start a business venture. Professionals from the OBC category can get up to 20 per cent (maximum of Rs 2 lakh) as subsidy by the Backward Classes Development Corporation.