Thiruvananthapuram: Pravasi Chitty gets 1000th member

DECCAN CHRONICLE.
Published Oct 31, 2018, 12:52 am IST
Updated Oct 31, 2018, 12:52 am IST
According to KSFE, usually it would take up to two months to get enough members for one normal chitty.
Kerala Infrastructure Investment Fund Board
 Kerala Infrastructure Investment Fund Board

Thiruvananthapuram: Membership of Pravasi Chitty scheme of Kerala State Financial Enterprises has crossed 1,000 mark with in five days of its launch. A total of Rs 1.2 crore was received as initial instalment.

Online registration and payment of Pravasi Chitty, a flagship initiative of the LDF government, was launched on October 25. By 3.40 p.m. on Tuesday the thousandth person joined the scheme. The first instalment received from members will be deposited as security for chitties by investing in Kerala Infrastructure Investment Fund Board (KIIFB), statement from KSFE said.

 

According to KSFE, usually it would take up to two months to get enough members for one normal chitty. However, sufficient members were received for 25 Pravasi Chitties within five days. The first round of auctions will be held by around November 25.

The members were offered to choose specific areas where their investments could be utilised for development purposes. Majority had opted for coastal road development, followed by roads and bridges, IT parks and modernisations of schools and hospitals.

In the initial phase the membership for Pravasi Chitty schemes was opened for NRKs in UAE. Now it has been extended to NRKs in other GCC countries as well, said the statement. 

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