THIRUVANANTHAPURAM: The Kerala State Financial Enterprises (KSFE) will announce a mega one-time settlement scheme to help its subscribers affected by the floods. It plans to mobilise Rs 1,000 crore from the drive, after giving concessions worth Rs 600 crore --- the highest in the organisation’s history.KSFE chairman Peelipose Thomas told Express that thousands of chitty subscribers were affected by the floods. “As many as 70 branches were directly hit and subscribers in several other branches were affected by the floods. We had announced a relaxation until September 15 for all chitties,” he said. Defaulters will not be sent notices until September 30.
Subscribers can avail of the one-time settlement (OTS) scheme for clearing defaults of both prized and non-prized chitties and loan accounts. Penal interest will not be levied. Collection charge of 7.50 per cent for revenue recovery cases will be slashed to just one per cent.
Pravasi Chitty
New date of the Pravasi Chitty launch, delayed owing to the floods, will be announced soon. Finance Minister Thomas Isaac’s visit to the UAE to campaign for the scheme has also been postponed. Several NRK registrants had asked the KSFE to postpone the launch as they have to send additional amounts to their homes to mitigate the flood damage.
As per the current plan, chitty subscription will begin this month. The monthly instalment will be in the Rs 2,500-Rs 50,000 range. More than 69,000 NRKs have evinced interest in joining the scheme. Of these, 7,000 have provided KYC data.