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Digital enrolment and auction of KSFE 's Pravasi Chitty

Pravasi Chitty was a budget announcement of Finance Minister T M Thomas Isaac to mop up Rs 10,000 crore for the Kerala Infrastructure Investment Fund Board.

Published: 30th April 2018 02:30 AM  |   Last Updated: 30th April 2018 02:30 AM   |  A+A-

Express News Service

THIRUVANANTHAPURAM: The Pravasi Chitty, to be launched by Kerala State Financial Enterprises (KSFE), will be noted for its digital operations. KSFE will launch a mobile app through which NRKs can join the scheme. They can enrol by uploading copies of their passport, visa and other KYC requirements. A digital branch in in the KSRTC shopping complex at Thampanoor will coordinate activities ranging from enrolment to auction.

The chitty auction will be online and subscribers can participate in it through the mobile app. In case of more than one subscriber willing to take the minimum sum, the winner will be selected through an electronic draw of lots.

Pravasi Chitty was a budget announcement of Finance Minister T M Thomas Isaac to mop up Rs 10,000 crore for the Kerala Infrastructure Investment Fund Board. Chief Minister Pinarayi Vijayan will launch the chitty here on May 2. In the first phase, NRKs in the UAE can join the scheme. There will be different schemes and the maximum prize will be Rs 10 lakh.     

KSFE chairman Peelipose Thomas said their target was to get one lakh subscribers in one year. “The scheme will be expanded to GCC countries in the second phase and other countries in the third phase,” he said.Those who cannot make the digital enrolment can join the chitty at selected branches of money exchange agencies and banks. For this, the KSFE has entered into tie-ups with money exchange agencies and public sector banks, including SBI, and some private banks.

In view of the short tenure of labour contracts, chitties in the 24-30 months range will be offered. LIC will provide free insurance cover to subscribers. In case of the death of a subscriber, LIC will pay the remaining instalments. The cost for airlifting the body and an accompanying person will also be covered.  
The mobile app and auction software were developed by the National Informatics Centre. The 24-hour digital branch will be manned by about 50 staff, working in three shifts. A sub-registrar of the Registration Department has also been posted at the digital centre. He will sanction new chitties and oversee auction procedures.        

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