Govt to float Pravasi Development Bonds: Minister

 Wednesday, June 20, 2012: Minister for Rural Development and NORKA K C Joseph told the assembly today that government plans to float Pravasi Development Bonds with a view to attract investments from non-resident Indians for the state’s growth.
Kerala government was examining a proposal to set up a Bank for receivinig deposits and advancing loans to non-resident Keralities, he said, adding, RBI sanction was necessary for it.
He was replying to a motion moved by treasury bench legislator P.Ubaidullah who sought the immediate attention of the state government to channelise the NRK deposits in Kerala banks for productive purposes.