THIRUVANANTHAPURAM: Pravasi Chitty, the Kerala State Financial Enterprise’s (KSFE) latest product, has received an overwhelming response from NRKs. About 36,000 persons have registered for the scheme and 66,000 have evinced interest in it since registration started on August 17.
The Pravasi Chitty, which aims to mobilise funds for the Kerala Infrastructure Investment Fund Board (KIIFB), will be launched in the UAE in the first phase.
The official launch will be held there in August, coinciding with the auspicious Chingam month in the Malayalam calendar.
KSFE chairman Peelipose Thomas said every effort will be taken to benefit from the UAE market, before expanding operations to other GCC countries. But a lack of data on the exact number of NRKs in the UAE is a hindrance for the organisation.
“For this, we have asked Kudumbashree to share the data of its proposed NRK survey. We are ready to pay for this,” Peelipose said.
Meanwhile, top KSFE officers are negotiating with 16 money exchange companies and different banks to become agents of the scheme.
The revenue sharing contract will be finalised on Monday. The round-the-clock contact centre for the scheme will start functioning at the KSRTC shopping complex this week. It will be manned by about 46 personnel who will interact with customers and do all the work related to the scheme.
After a successful security check by the Cyberdome of the Kerala Police and a national-level audit, the software prepared for the scheme has been submitted for international certification.
All procedures related to the chitty are digital. The auction is fully online and subscribers can log into the virtual auction room using their unique ID.
Making things clear
The KSFE will conduct a presentation on the scheme before the officials of the UAE Consulate in Thiruvananthapuram on July 4. This is to equip the officials to reply to the possible queries from official agencies and private parties in the UAE, says KSFE chairman Peelipose Thomas.