Norka Roots

Norka Business Facilitation Center (NBFC)

Norka Business Facilitation Center (NBFC) is an initiative conceptualized by the Government of Kerala, offering comprehensive support services and advisories for robust investment growth. It seeks to facilitate investments of Non-Resident Keralites (NRKs) in commencing business ventures in Kerala. The Norka Business Facilitation Center (NBFC) helps assess business opportunities available and the various options so that focused attention could be exercised.
Norka-Roots identified the Kerala Institute for Entrepreneurship Development (KIED), an autonomous body under the Industries and Commerce Department, Government of Kerala, as the Managing Partner of the NBFC to transform the center into an excellent supporting contact point for investors and entrepreneurs.

Mission

To be the professional agency for NRKs and Returnees, inspiring, planning, starting, managing, and growing their businesses inside Kerala.

Services offered by NBFC

•   Assistance in formulating business related ideas.
•   Information on loan schemes and terms and conditions of financial institutions/ banks.
•   Information on capital subsidy and interest subsidy schemes of Norka-Roots/ Government of Kerala.
•   Information on subsidies of Central Government/ Central Government Agencies.
•   Assistance in preparing project profile/ business plan.
•   Providing handouts / materials on relevant areas of Business.
•   Assistance for Business Registration / Licensing Information through Single Window System (K-SWIFT).

Entrepreneurship Programmes

•   Entrepreneurship Development Programme for NRKs/ Return Pravasis at no cost.
•   Business Clinics for existing entrepreneurs.
•   Entrepreneurship Training in specific sectors.
•   Technology Management Development Programme.

Pravasi Investors Meet

An investment meet is organized to collect investments from non-resident Malayalis and initiate ventures in Kerala.

Handbooks Published

• Comprehensive booklets related to Business Investment / Entrepreneurship.

CONTACT US

Email: nbfc.norka@kerala.gov.in ; nbfc.coordinator@gmail.com

NBFC Office: 0471-2770534
NBFC Mob: 0091-8592958677

Manager (Projects)
Mob: 0091- 9446022519

Sr. Programme Coordinator
Mob: 0091-9446550872

APPLICATION FORM FOR REGISTRATION

1.   Name (initial/ last):
2.   Residential Address with District and PIN code:
3.   Contact Telephone Number:
4.   E-mail ID:
5.   Type of Business Field: Manufacturing/ Service/Trade
6.   Business Sector: Tourism/ Healthcare/ Information Technology / Infrastructure/ Manufacturing/ Agro based & Food Processing/ Textiles & Garments/ Chemical Industry/ Minerals/ Other
7.   Type of Business Entity: Company/ LLP/ Partnership/ Proprietary etc.
8.   Location of Business in Kerala:
9.   Total Investment Proposed:
10.   Own Capital:
11.   Borrowed Capital:
12.   How soon do you plan to start the project?
13.   Current banking partners in India and abroad:
14.   Support and services required from NORKA Business Facilitation Center:
15.   Attach a copy of Business plan:
16.   Attach a copy of visa papers or similar documents such as Aadhar etc:
17.   Attach a copy of passport (First /Last Page):

DECLARATION

I understand that the NBFC is established to facilitate the NRK investment in the state in all possible ways under the scheme which include proper guidance, awareness and facilitation regarding the existing statutory requirements, licenses, regulations, etc in the different areas of investment. It also supports the returned emigrants to set up self employment ventures in the State.
NBFC will provide me with relevant information about any entities like banks, financial institutions, market research agencies, business opportunities, etc. on request solely by me for my benefit and NBFC will not be held accountable for any situations that may arise between me and any third-party entities.
I understand that all deliverables and services of the consultants under NBFC will be free of cost. I agree and accept that the NBFC business name shall not use for the promotional purposes like advertisement, testimonials, etc of my entity.
I agree and accept that the NBFC has the authority to disclosing the information provided by me to the departments, agencies and government for official purpose, if required.

Apply Now

Schemes list

Santhwana

NORKA Department Project for Returned Emigrants (NDPREM)

Pravasi Bhadratha

Norka Roots Directors Scholarship Scheme

Pre-Departure Orientation Programme (PDOP)

NORKA Assisted & Mobilized Employment (NAME) Scheme

Subhayatra Scheme

Emergency Repatriation Fund/ NORKA Assisted Body Repatriation Scheme

Loka Kerala Kendram

Market Research, Skilling, Pre and Post Recruitment Services

Financial Assistance to Pravasi Sanghoms

Global Contact Centre/24-Hour Call Centre

NORKA Emergency Ambulance Service Scheme

Skill Upgradation and Re-integration Training for NRKs

Pravasi Legal Aid Cell

NORKA Job Portal

* Norka Business Facilitation Centre (NBFC): Doubts are common in the minds of those interested in starting a business, especially for NRK returnees. The following are the most common questions asked by the participants in the training organized for the returnees. Most of them are interested in starting a business. We have made every effort to provide answers regarding various fields in a very simple manner.
* Which is the most appropriate project for me to start?: Each individual should select projects that are suitable for their own taste, as well as marketability and profitability, and that are also viable to obtain a license/registration from the Pollution Control Board/Panchayat/Municipality.
* Can I get an interest-free/collateral-free loan?: The concept of interest-free loans does not exist in banks, but loans with interest subsidies are available. Unsecured loans are available subject to conditions, for example, MUDRA loans. Interest rates on bank loans will be subject to RBI norms, and the interest rates may vary slightly between banks. Cooperative banks have slightly higher interest rates than nationalized banks. Bank interest rates are generally 9%-11% now.
* What are the ways to get a low-interest loan?: Apart from banks, government financial institutions such as KSBCDC, KSWDC, KSMDFC, KSSCDC, and MATSYAFED are the institutions that provide loans with low-interest rates on certain conditions. In addition, KFC, KSIDC, KSFE, and Kerala Bank implement low-interest loan schemes subject to government directives.
* For what purposes in business will loans be availed from the banks? What are the terms of disbursement of loans? Will the loan amount be credited directly to my account?: Banks provide loans for the fixed capital investment of the business, i.e., land/ building, production plants, machinery, initial stock, and pre-operative expenses, as well as working capital (additional stock until revenue is generated, wages, and other expenses). The loan amount is disbursed in installments, third-party payments, or directly as per the project report approved by the bank.
* Which bank should I approach for a loan?: The bank should be selected based on the interest rate of the loan, repayment terms, repayment period, method of allowing installments, collateral terms, and the possibility of getting a subsidy.
* How many days will it take to complete the loan process?: Once all the procedures are completed, usually require only two weeks to complete the loan process.
* Is it possible to avail a loan for an ongoing project? What are the terms?: Loans are available for the expansion and diversification of existing projects. Along with that, working capital will also be availed. The bank will decide the interest rate, terms, and amount sanctioned for the term loan, working capital loan, overdraft, or cash credit method.
* Can I get a new loan if I currently have a loan with another institution?: The loan is subject to conditions, considering arrears, CIBIL score, loan balance, nature of the loan, etc.
* How to prepare a project report for a business purpose?: Calculate the total investment by detailing the cost of each of the fixed investment components required for the project. Also, determine the working capital (the amount required to be held for a given period - wages, raw materials, rent, other expenses, etc.). Project cost is the sum of fixed investment and working capital. Additionally, calculate the income and expenses to determine the profit. Explain the business concept, marketing methods, etc. Once the bank is convinced of the project, prepare and submit a detailed project report with the help of experts.
* What are the collateral arrangements of banks? What are the general terms of a collateral loan on property?: Each bank has different collateral requirements. Common forms of surety include personal surety, property surety, and fixed deposit surety. Banks set forth conditions regarding the minimum quantity and market value of the property for mortgage.
* What subsidy can I get? Is a bank loan mandatory to avail of the subsidy? Do self-employed entrepreneurs receive any subsidy?: Various subsidies are available to entrepreneurs from the Central/State Government. Bank linkage is mandatory for subsidy benefits, implying that the entrepreneur must secure a bank loan. However, a bank loan is not mandatory to receive subsidies under the ESS scheme provided by the Industries Department. Bank linkage/loan is also required for availing NORKA ROOTS subsidies for non-residents. The NORCA ROOTS Subsidy Scheme is implemented through banks, government-controlled financial institutions, and non-resident cooperative societies. Subsidies are provided in the form of Capital Subsidy/Interest Subsidy, and the terms of the subsidy will be prescribed by the respective institutions. Additionally, the state government is implementing interest-subsidized loan schemes through KFC/KSIDC institutions.
* When will the subsidy amount be credited to my account?: Typically, the capital subsidy is transferred to the banks at the initiation of the loan. However, the amount is credited to the account only after 3 to 4 years, ensuring the viability of the project. During this period, banks will pay interest to the entrepreneur on the capital subsidy amount. For loan accounts with satisfactory repayment, interest subsidy is credited quarterly, monthly, or annually to the account as soon as the banks receive the amount.
* What is meant by moratorium?: A loan moratorium refers to the allowance of time for loan repayment and the suspension of repayments. It is a period during which you are eligible to take a break from making your loan repayments. You can cease paying monthly installments during the moratorium. However, since interest continues to accrue on the loan amount even during the moratorium period, it is advisable to continue repaying the loan amount as usual.
* What is a MUDRA loan?: Micro Unit Development and Refinance Agency Bank (or Mudra Bank) is a public sector financial institution in India. A MUDRA Loan is a loan provided by banks under the guarantee of MUDRA Bank, with a maximum amount of 10 lakhs. It is an unsecured loan; however, the beneficiary is required to pay a commission of 1% of the balance in their loan account every year as a guarantee commission. This represents an additional financial liability for the beneficiary. Applications can be submitted directly at banks or online through the www.udyamimitra.in portal.
* What is CIBIL score?: Credit Information Bureau (India) Limited (CIBIL) is the most popular of the four credit information companies licensed by the Reserve Bank of India. The CIBIL score is a three-digit numerical summary of your credit history, derived using the credit history found in the CIBIL report. The Credit Information Report (CIR) reflects the credit payment history of an individual over time, and banks generally favor individuals with good scores when granting loans. It's worth noting that the CIBIL score is not mandatory for some financial institutions. The central government has clarified that the CIBIL score is not a requirement for MUDRA loans.
* What is GST Registration? Can GST be charged to customers if they opt for the GST composition scheme?: All businesses supplying goods with a turnover of more than Rs 40 lakh in a financial year are required to register under the GOODS AND SERVICES TAX ACT. The turnover limit for service providers is Rs 20 lakhs. Additionally, there are certain businesses for which GST registration is mandatory regardless of turnover. Conversely, registration is not mandatory for some businesses. A taxpayer with a turnover of less than Rs 1.5 crore can opt for the composition scheme. However, a composition dealer cannot issue a tax invoice, as they are unable to collect tax from their customers. Instead, they must pay the tax from their own pocket (1%).
* Is the GST bill mandatory for the purchase of machinery?: Bills with GST payment for machinery are necessary for banks to approve loans and receive government capital subsidies. However, the GST bill is not obligatory for some agencies to provide subsidies.
* What is meant by MSME?: According to the Micro, Small, and Medium Enterprises Development (MSMED) Act, 2006, enterprises are divided into two categories: 1. Manufacturing Enterprises: Engaged in the manufacture of goods in any industry. 2. Service Enterprises: Engaged in providing services. Enterprises are classified as Micro, Small, and Medium Enterprises (MSME) based on annual turnover and investment.
* What is Udyam Registration? Do I need it?: Udyam is an online system for registering Micro, Small, and Medium Enterprises, launched by the Ministry of MSME, Government of India, on July 1, 2020. The government also revised the definition of MSMEs thereafter. Any individual can obtain free registration for their enterprise through a fully digital and paperless process based on self-declaration. Enterprise registration is mandatory to avail the benefits of schemes or programs for micro, small, and medium enterprises, such as the credit guarantee scheme, public procurement policy, additional advantages in government tenders, and protection against delayed payments.
* What licenses are required for a business?: A trade license is generally mandatory for enterprises. Some very small enterprises (Nano Units) do not require a trade license to start as domestic enterprises. Depending on the nature of the enterprise, licenses issued by other departments and agencies must be obtained. For example, those in the food sector must obtain FSSAI registration or a license.
* What is K-SWIFT?: K-SWIFT is a single-window portal introduced by the Kerala Government as part of the Ease of Doing Business initiative. It serves as a system where applications can be submitted online to obtain licenses from various offices not covered by Central Government Acts. If the application from the concerned departments is in order, licenses will be issued within a month. In addition, entrepreneurs can initiate business activities through K-SWIFT by submitting a self-certificate and obtaining an Acknowledgment Certificate in place of the required licenses. After a period of 3 years, all necessary licenses must be obtained within 6 months. Units with investments up to 50 CR (excluding red category industries) can also commence business with a "Certificate of Acknowledgment" obtained through the Government of Kerala's K-SWIFT portal (self-certification). For specific terms and details, please visit the K-SWIFT portal.
* How much amount will be available under the PMEGP scheme for various purposes?: The maximum cost per project/unit permitted under PMEGP in the manufacturing sector is Rs. 50 lakhs, and in the business/service sector, it is Rs. 20 lakhs. The bank will sanction 90% of the project cost (95% in the case of special categories). Rate of Subsidy (of Scheme Cost): (1) General Category: 15% Urban, 25% Rural (2) Special Category (SC/ST/OBC/Minority, etc.): Urban 25%, Rural 35% Business activity projects without capital expenditure are not eligible for financing. Fill and submit the applications through the PMEGP portal. The bank will assess the viability of the project and make a decision. For loans up to Rs 10 lakh, banks do not require collateral security.
* What is the procedure for export and import?: An IEC (Importer-Exporter Code) is a key business identification number required for exporting from India or importing into India. To obtain an IEC Registration Certificate, visit (www.dgft.gov.in). Procedure: • Fill out the application form. • Upload the required documents. • Make an online payment. • Receive the Certificate via email. Documents required to apply for IEC: • Proprietorship: PAN card, Aadhar Card, Rent Deed/Electricity Bill, and Bank Details. • Partnership: PAN card of the firm, Partnership Deed, Aadhar Card/PAN card of partners, Bank Details of the firm. • LLP/Private Limited Company: PAN card of the firm, Incorporation Certificate, Aadhar Card/PAN card of directors/partners, Bank Details of the firm.
* What is the procedure for the registration of a Trademark?: A trademark can be any word, phrase, symbol, design, or combination of these that identifies your goods or services. It's how customers recognize you in the market and what differentiates you from your competitors. The registration of a trademark shall, after the commencement of this Act, be for a period of 10 years. Renewal of the registration of a trademark is for 10 years from the date of the expiry of the original registration. For assistance, contact: The Nodal Officer Intellectual Property Rights Information Center – Kerala (IPRICK) KSCSTE, Sasthra Bhavan Pattom, Thiruvananthapuram – 695 004. Tel: 0471 – 2548252, 2548315 E-mail: iprickerala@gmail.com Website: www.patentcentre.kerala.gov.in
* Where can the technology for value-added products in Agriculture/Foods/Meat/Fish Products be obtained?: Technology for value-added products in Agriculture/Food/Meat/Fish products can be obtained from ICAR institutions, Agriculture Universities, and National Research Centres.
* Which rule is applicable to Cattle/Poultry/Pig/Rabbit/Goat rearing projects?: Kerala Panchayat Raj (Licensing of Livestock Farms) Rules, 2012
* What are the benefits of the NDPREM Entrepreneurship Assistance Scheme implemented by Norka Roots?: • Project Cost: Maximum 30 Lakhs (Bank Loan Mandatory) • Capital Subsidy: 15% (of project cost) - Maximum 3 lakhs • Interest Subsidy: A 3% subsidy benefit is provided to the beneficiary through the bank loan account only.
* What are the other entrepreneurship support schemes implemented by Norka Roots?: Norka Roots provides 25% of the project cost (up to a maximum of Rs. 1 lakh) as capital subsidy and 3% interest subsidy for projects with an expected investment of up to 5 lakhs through Kerala Bank and KSFE.
* Does Norka-Roots provide business loans directly to expatriates?: Norka Roots cannot provide loans directly to NRKs. Norka Roots is not a financial institution authorized to implement loan schemes. Various subsidy schemes are being implemented to encourage entrepreneurship among expatriates.
* Who can participate in programs run by NBFC?: Expatriates and returned expatriates can participate. Not only those who worked outside the country, but also those who worked outside our state, are considered expatriates.

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