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Ailing Kerala treasury expects fund from KSFE ‘Pravasi Chit’

Kerala is expecting Rs.10,000 crore from expatriates to support the ailing treasury of the state,said finance minister DR.T.M.Thomas Isaac. KSFE Pravasi Chit employees conference at Tagore Centennary Hall in Kozhikode,today.The fund raising is in association with the newly launched KIFBI,said the minister.

In three years time,10 lakh members are expected to join in the scheme,the minister added.

Pravasis need not contribute any money ; however,their participation to this venture is just by joining this chit investment.

This scheme would enhance the institution.

The fund would be used for the infrastructure development of the state.

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