Kerala to set up investment firm for NRIs

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  1. Kerala has announced its plan to set up a diaspora investment company known as NRK Investment and Holding Company.
  2. The company will have a 74% stake of non-resident Keralites and a 26% government stake.
  3. This objective of the company will be fund infrastructure projects and NRI townships in the state.The projects planned under ‘Rebuild Kerala’ initiative will also be a priority for the new company.
  4. Rebuild Kerala is a Kerala State Government initiative for crowd funding of projects envisaged for rebuilding Kerala.The virtual platform provides an opportunity for all willing individuals and institutions to contribute to the rebuilding measures.
  5. This initiative has been launched after the unprecedented flood havoc in 2019 that had left Kerala in immeasurable misery and devastation.