Applications are invited for the scheme to provide financial assistance to cooperatives of non-resident Malayalis through NORCA-ROOTS. One-time funding is provided to improve the activities of expatriate organizations working towards the rehabilitation and economic upliftment of those who have returned from exile.
Financial assistance up to three lakh rupees. An amount equivalent to five times the paid-up share capital of the co-operative societies or a maximum of Rs.1 lakh, whichever is less, the said amount shall be paid as share parity and working capital of Rs.2 lakh. The group must have at least 50 members at the time of application. 2 years should be completed following registration. Class A and Class B members should be expatriates/returnees. The bye-laws should have provision for receiving government funding. The audit report of the previous financial year of the group should also be submitted.
Two are to start enterprises providing employment and income to at least 10 persons through production, service, IT and employment enterprises of public interest (agriculture, animal husbandry, dairy development, small scale industry, fisheries, value added product manufacturing, service sector, construction sector) or to develop existing enterprises in such a way as to provide employment as above. Providing working capital of Rs. Funding is provided for initiatives undertaken directly by the group and initiatives undertaken individually/collectively by the members of the group.
Application form and details are available at Norka-Roots website www.norkaroots.org. Send the completed applications along with copies of essential documents, board decision, project document, copy of latest audit report and provisional debt list to Chief Executive Officer, Norca-Roots, Norca Centre, 3rd Floor, Thaikkad, Thiruvananthapuram – 695 014 by 15th December.
For more information visit www.norkaroots.org and toll free number 18004253939 (from India) and 00918802012345 (missed call service from abroad).
